LAS VEGAS (Nov. 23) BUSINESS WIRE -Nov. 23, 1998--American Vantage Cos.
(Nasdaq:ACES) Monday announced that it has entered into a licensing
agreement through its wholly owned subsidiary, Sitka Restaurant Group
Inc., with World Championship Wrestling (WCW), a Time Warner (NYSE:TWX)
company, to develop themed restaurants known as WCW/nWo Nitro Grills.
The first of such restaurants will be located in the Excalibur Hotel
and Casino, on the Las Vegas Strip in Las Vegas. The Excalibur, a 4,
008-room, medieval-themed family hotel/casino, is a property of Circus
Circus Enterprises Inc. (NYSE:CIR). The agreement was arranged through
Leisure Concepts Inc. (LCI), the licensing division of 4Kids
Entertainment Inc. (Nasdaq:KIDE).
The WCW/nWo Nitro Grill, a full-service restaurant, will provide
quality food and offer a menu ranging from sandwiches to steaks as well
as specialty beverage items. It will feature WCW/nWo decor,
paraphernalia and memorabilia, and offer exciting WCW ambiance,
including live and recorded WCW wrestling events being shown on big
screens throughout the restaurant.
A full line of WCW merchandise will be available for sale to the public
in the restaurant's gift shop. Many WCW stars will visit on a regular
basis to meet and greet patrons and fans.
This first WCW/nWo Nitro Grill is scheduled to open in the spring of
1999.
"We're very excited about our new relationship with the WCW," said Karl
Rogers, Sitka president. "This is an excellent opportunity to diversify
into a new area of entertainment and to associate with highly
recognized and successful companies in the industry."
WCW has built an extensive operation through its top-rated television
programs featuring athletes who are superstars in professional
wrestling. The heated rivalry among WCW, nWo Hollywood and nWo Wolfpac
(the two renegade branches of the WCW) has caused an increase in
television viewership.
Currently, more than 32 million people watch the drama being played out
each week on such WCW programs as "Monday Nitro," "WCW Saturday Night,"
"WCW Pro," "WCW Worldwide" and "Thunder." WCW also has 12 pay-per-view
specials every year that consistently rank among the highest-rated
television events on cable television.
"We're proud to have joined forces with ACES to produce this first
WCW-themed restaurant and entertainment experience at the Excalibur in
Las Vegas and to license them to distribute quality WCW merchandise,"
said Casey Collins, licensing manager for WCW. "We hope its anticipated
success leads to the development of several more WCW/nWo Nitro Grills
in other popular WCW locations."
American Vantage Cos. is a consultant in the gaming industry.
WCW is a subsidiary of Turner Broadcasting System Inc., a Time Warner
company. WCW produces and markets television programs and live events
featuring wrestling superstars. WCW produces eight hours of original
programming seen each week throughout the United States and in more
than 25 countries throughout the world. For information on the WCW,
visit its Web sites at www.WCW.com and www.NWOwrestling.com.
Circus Circus Enterprises owns and operates gaming and hotel properties
in Nevada, Mississippi and Illinois.
This news release may contain forward-looking statements that are
subject to risks and uncertainties. The company's actual results may
differ materially from those described in any forward-looking
statements. Additional information concerning potential risk factors
that could affect the company's business and financial results are
included in the company's filings with the Securities and Exchange
Commission. They can also be found on the company's Web site at
www.nitrogrill.com and on the Securities and Exchange Commission's Web
site at www.sec.gov.
-0- DB/la* WAM/la
CONTACT: American Vantage Cos.
Audrey Tassinari, 702/227-9800
or
World Championship Wrestling
Casey Collins, 404/603-2554
or
Excalibur Hotel & Casino
Paul Speirs, 702/597-7118 |
