Monday September 28, 10:02 am Eastern Time
Company Press Release
Chicago Pizza & Brewery Inc. Receives Video Poker Approval
Company Also Receives Award for No. 1 Microbrewery in Orange County, Calif.
MISSION VIEJO, Calif.--(BUSINESS WIRE)--Sept. 28, 1998--Chicago Pizza & Brewery Inc. (Nasdaq:CHGO - news; Nasdaq:CHGOW - news) Monday announced that the company has received approval from the Oregon State Lottery Commission to install video poker equipment in its Stark Street restaurant in Portland, Ore.
Installation of five video poker machines in this 5,500-square- foot restaurant is expected to be completed in October 1998. Being a part of the Oregon Lottery system, the state's share of revenue from video poker machines is used to provide funds for education.
According to Paul Motenko, chief executive officer: ''Video poker has been a part of our business strategy in the Northwest, and we are very pleased to have received approval for this first installation. Being situated near the Washington/Oregon border in a densely populated area, we feel the Stark Street restaurant is an ideal first video poker location for us.''
The company has applications pending for several additional video poker sites.
The company also received good news in Orange County, Calif., where five of its restaurants are located. The Orange County Register, in its fifth annual readers' poll, announced that BJ's Pizza, Grill and Brewery in Brea was voted the best microbrewery in the county. Also, for the fifth consecutive year BJ's was voted as having one of the county's top pizzas.
''We are obviously thrilled that the residents of Orange County think so highly of BJ's,'' remarked Jerry Hennessy, president. ''We are particularly pleased to have been voted the best microbrewery in an area which, over the past few years, has seen quite a few microbrewery restaurants enter the marketplace. It certainly validates our concept when our two signature items both receive such accolades.''
Chicago Pizza & Brewery currently owns restaurants in Southern California; Boulder, Colo.; and Lahaina, Hawaii, that operate under either the names ''BJ's Pizza & Grill'' or ''BJ's Pizza, Grill & Brewery.''
The company has planned three new Southern California restaurants, which will be located: at 400 E. Huntington Drive, in Arcadia; at the Valencia Town Center Mall, in Valencia; and at 6424 Canoga Ave., in Woodland Hills.
The company also owns Pietro's Pizza locations in Oregon and Washington, several of which have been converted to the popular, upgraded BJ's Pizza restaurant format, while the others await renovation and/or conversion within the next year.
BJ's restaurants offer customers moderate prices and tremendous value on an incredible menu that includes deep-dish, Chicago-style pizza as well as sandwiches, salads, fabulous desserts, critically acclaimed handcrafted beers and more. Visit Chicago Pizza & Brewery on the Web at bjsbrewhouse.com.
The information presented herein contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, which are intended to be covered by the safe harbors created thereby. The company's results may differ significantly from the results indicated by such forward-looking statements. Factors that might cause such differences include but are not limited to: (1) the company's ability to finance or fund its business plan, (2) the company's ability to manage growth and conversions, (3) construction delays, (4) restaurant- and brewery-industry competition and other such industry considerations, (5) marketing and other limitations based on the company's historic concentration in Southern California and current concentration in the Northwest, (6) consumer trends, (7) increased food costs and wages, including without limitation the recent increase in the minimum wage, and (8) other general economic and regulatory conditions.
Contact:
Chicago Pizza & Brewery Inc. Brenda Eames, 310/796-0229 Paul Motenko, 949/367-8616, ext. 107
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