Atlanta 12/5/2013 4:00:00 AM
News / Stocks

Chanticleer Holdings, Inc. (HOTR) Invests in Beacher’s Madhouse – New Location Set for Las Vegas

MissionIR would like to highlight Chanticleer Holdings (NASDAQ: HOTR), a joint owner of privately held Hooters of America (HOA) and independent developer of international Hooters restaurants.  The company currently owns, in whole or in part, Hooters restaurants in Australia, South Africa, and Hungary, and also has franchisee rights covering parts of Brazil. Last year Chanticleer doubled its number of restaurants.

In the company’s news,

Chanticleer Holdings today reports that it has made a $500,000 investment in the new Beacher’s Madhouse to be located in Las Vegas, Nevada.

Beacher’s Madhouse is a variety show and nightclub known for its world renowned, eclectic performances. The theater is currently located in Los Angeles, Calif., and on New Year’s Eve is slated to open an additional location in Las Vegas.

The new location will be an 8,500-square-foot performance theater located in the MGM Grand Hotel & Casino on the strip in Las Vegas. The theater’s décor will include red velvet, tufted leather, a life-size stuffed elephant and a human cannonball. Beacher’s will offer three different weekly show options: an early show that starts at 8 p.m. and two late shows – the second one lasting until 8 a.m.

“There’s no place to party like Las Vegas, and there’s no party crazier or more fun than a Madhouse party,” Mike Pruitt, CEO and president of Chanticleer stated in the news release. “Attending a Beacher’s Madhouse show is like no other experience. Founder of Beacher’s Mad House, Jeff Beacher, spent over a decade scouring the world to find talent and attractions unlike any other venue out there. Beacher’s Madhouse is an experience you will never forget.”

Per its investment into Beacher’s, Chanticleer received the right to participate in the financing of up to 25 percent offered to third-party investors in any new Beacher’s location, as well as the exclusive rights to the United Kingdom, South Africa and Australia. The arrangement is complementary to Chanticleer’s current expansion strategies for its other portfolio brands.

“We believe the addition of the Beacher’s Madhouse investment into our current restaurant and entertainment portfolio makes perfect sense,” Pruitt stated.

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