Tuesday, December 3, 2013

Chanticleer Holdings invests $500,000 in Vegas nightclub

Dancing Oompa Loompas. The "World’s Tallest Female Stripper."

Charlotte-based Chanticleer Holdings has just become an investor in a nightclub company known for such acts.

This week, Chanticleer said it has made a $500,000 investment in Beacher’s Madhouse's Las Vegas location, set to open on New Year’s Eve in the MGM Grand Hotel & Casino. The deal gives Chanticleer the rights to purchase up to a 25 percent stake in any additional Beacher’s Madhouse locations that might open.

The only other permanent Beacher’s location is in Los Angeles. That venue's other oddities include the "World’s Oldest Male Stripper," "Mini Lady Gaga" and "Shaving Cream Guy," who makes sculptures with shaving cream on his body.

While Chanticleer continues to grow Hooters restaurants internationally, that has no longer been its sole focus since its purchase this year of Charlotte-based American Roadside Burgers and a majority stake in the companies that own the Charlotte-based Just Fresh restaurant chain.

“We believe the addition of the Beacher’s Madhouse investment into our current restaurant and entertainment portfolio makes perfect sense,” Mike Pruitt, Chanticleer CEO, said in a statement.

The deal also gives Chanticleer the exclusive rights to purchase up to 25 ownership interest in Beacher’s clubs that might open in South Africa, Australia and the U.K. Chanticleer already owns and operates Hooters in those countries.


Jim said...

Seems like an odd investment that is highly dependent on one person's talent. Very risky.