Profile: Landry’s Restaurants, Inc. (LNY)

Landry’s Restaurants, Inc. is a diversified restaurant, hospitality and entertainment company principally engaged in the ownership and operation of full-service, specialty location restaurants, with 175 locations in 27 states and Canada, as of December 31, 2008. The Company is a full-service restaurant operator in the United States, operating primarily under the names of Rainforest Cafe, Saltgrass Steak House, Landry’s Seafood House, Charley’s Crab and The Chart House. Its concepts range from upscale steak and seafood restaurants to theme-based restaurants, and consist of an array of formats, menus and price points that appeal to a range of markets and consumer tastes. Landry’s Restaurants, Inc. is also engaged in the ownership and operation of a hospitality and entertainment businesses, which include hotels, casino resorts, aquarium complexes and the Kemah Boardwalk, a 40-acre amusement, and an entertainment and retail complex in Kemah, Texas. It also owns and operates the Golden Nugget Hotels and Casinos in downtown Las Vegas and Laughlin, Nevada.

Landry’s Division

The Landry’s Division comprises 68 Landry’s Seafood House and C.A. Muer restaurants (which include restaurants that operate under several names, primarily Charley’s Crab), as well as its Signature Group restaurants, which together generated 26.4% of the Company’s restaurant and hospitality revenues during the year ended December 31, 2008. Landry’s Seafood House is a full-service traditional Gulf Coast seafood restaurant. It offers a menu featuring fish, shrimp, crab, lobster, scallops, other seafood, beef and chicken specialties in a relaxed atmosphere. The restaurants feature a prototype look that is identified by a large theater-style marquee over the entrance, and by a brick and wood facade, creating the feeling of a traditional old seafood house restaurant. Charley’s Crab restaurants, which are generally situated throughout Michigan and Florida, include numerous waterfront locations and have architectural details, with two restaurants located in renovated historical train stations. Landry’s Signature Group, includes dining and concepts, such as Vic & Anthony’s, a steakhouse with locations in downtown Houston, Texas and in the Golden Nugget, Las Vegas, and the Pesce seafood restaurant.

Rainforest CafeDivision

The Rainforest Cafe Division comprises 32 Rainforest Cafe, T-Rex Cafe and Yak & Yeti theme-based restaurants, which generated 30.7% of the restaurant and hospitality revenues in 2008. Alcoholic beverage sales and retail sales accounted for approximately 20.8% of these revenues.

Each Rainforest Cafe consists of a restaurant and a retail village. The Rainforest Cafe restaurants provide full-service dining in a rainforest-themed environment. The restaurant offers food and beverage items served in a simulated rainforest complete with thunderstorms, waterfalls and active wildlife. In the retail village, the Company sells complementary apparel, toys and gifts with the Rainforest Cafe logo, as well as other items reflecting the rainforest theme. Each T-Rex Cafe offers a menu of food and beverage items and merchandise. Yak & Yeti, in a setting reminiscent of a rural Himalayan village, which is the Asian-Fusion concept, offers both table dining and quick service food, as well as a retail component offering traditional Asian dinnerware ranging from sushi plates to chopsticks to fine teapots.

Saltgrass Steak House Division

The Saltgrass Steak House restaurants offer full-service casual dining in a Texas-Western theme. Prototype buildings welcome guests into a stone and wood beam ranch house complete with a fireplace and a saloon-style bar. Menu options extend from filet mignon to chicken fried steak to fish to grilled chicken breast.

Chart House Division

The Chart House Division comprises 27 Chart House restaurants, which generated 13.4% of restaurant and hospitality revenues in 2008. Alcoholic beverage sales accounted for approximately 21.2% of these revenues. Chart House restaurants are located on scenic properties on the East and West coasts, including many waterfront venues. The Chart House restaurant menus offer a variety of seasonal fresh fish, shrimp, beef and other daily seafood specialties and several restaurants also offer lunch seating and a Sunday brunch.

Specialty Growth Division

The Company’s Specialty Growth Division consists of hospitality and amusement properties that provide ancillary revenue streams and opportunities complementary to its core restaurant business. The Specialty Growth Division includes the properties, such as Kemah Boardwalk, Aquariums, Hotels and Tower of the Americas. Kemah Boardwalk is an amusement, entertainment and retail complex located on approximately 40 acres in Galveston, Texas. Landry’s Restaurants, Inc. operates two aquarium complexes featuring Aquarium Underwater Dining Adventure restaurants in Denver, Colorado and Houston, Texas.

Gaming Division

Golden Nugget, Las Vegas occupies approximately eight acres in downtown Las Vegas, Nevada, with approximately 53,400 square feet of gaming area. As of December 31, 2008, the property featured three towers containing 1,915 rooms, approximately 1,358 slot machines and 66 table games.