Press Release: 2006-09-12: SEGA Entertainment USA Inc. Expands North American, Location Based Entertainment Portfolio

This is an unaltered copy of a press release, for use as a primary source on Sega Retro. Please do not edit the contents below. Language: English Original source: PRWeb

GLENDALE, CA (PRWEB) SEPTEMBER 12, 2006

Sega Entertainment USA, Inc (SEUI), the North American amusement facilities operation arm of Tokyo, Japan-based SEGA Corporation, and a worldwide leader of amusement facilities, software and arcade machines today announced a further strengthening of its US operations by completing the acquisition of the GameWorks venue at Newport On The Levee in Newport, Kentucky. In all, SEUI currently owns and/or operates all 14 domestic GameWorks flagship locations, and all 3 GameWorks Studio locations.

The Newport, KY deal gives SEUI 100% ownership of the 28,000 square foot property. The venue was formerly a joint venture between SEUI and The Price Group LLC, which owns the Newport On The Levee complex – the complex where GameWorks currently resides.

Commenting on the acquisition, SEUI President and Chief Operation Officer, Ben Kitay said, ‘We're thrilled to have the opportunity to serve the people of the Greater Cincinnati area – the people have been very receptive to the GameWorks product and we look forward to continuing to deliver the best dining and entertainment experience possible for many years to come! Our goal is to make our guests day by providing great games, food, and service. This acquisition was an important move toward solidifying our growth plan, not only in this area, but across North America.’

SEUI signed a new 10 year lease on the property, extending their anticipated stay in the area by another three years. SEUI sees the site as a growth vehicle, given the vitality of the Cincinnati area, the success of the current GameWorks and its Sports Bar & Grill – along with growing synergies created with the huge presence of sports fans, the success of the Cincinnati sports franchises and GameWorks’ relationship with its loyal customer base.

Since taking ownership of GameWorks in May of 2005, SEUI has not only expanded GameWorks’ successful “Sports Bar and Grill” food and beverage concept in to the Schaumburg, Ill; Columbus, Ohio; Ft. Lauderdale and Miami Fla; and Tempe, Ariz. Locations, but has also upgraded the gaming product with the highest-impact, state-of-the-art game product throughout its 18 locations.

In addition to taking sole ownership of the Newport, KY GameWorks location, SEUI plans to announce its new Sports Bar and Grill concept and first market expansion in the coming weeks. Through 2008, SEUI plans to open two, 35,000 to 40,000 square foot flagship locations, and five, 15,000 to 20,000 square foot mid-market locations with the unveiling of their new Sports Bar & Grill concept.

In partnership with David Friedman, Vice President of RKF Strategic Retailer Services and exclusive national retail leasing representative for Sega Entertainment U.S.A. Inc., the SEUI growth and expansion plans are solidly in place.

ABOUT SEGA ENTERTAINMENT USA, INC

Sega Entertainment U.S.A., Inc. is the North American Amusement Facilities Operation arm of Tokyo, Japan-based SEGA Corporation, a worldwide leader of amusement facilities, software and arcade machines for consumers both inside and outside the home. SEUI specializes in delivering premium entertainment experiences via its location-based entertainment destinations, which provide consumers with both signature food and beverage offerings and the world’s most popular arcade game products. Through its stable of GameWorks properties, SEUI operates amusement facilities throughout North America. The web site is located at http://www.gameworks.com.

ABOUT GAMEWORKS

Owned and operated by the newly-formed Sega Entertainment U.S.A, Inc. (SEUI), GameWorks (http://www.gameworks.com) fuses state-of-the-art video games and attractions with one-of-a-kind, quality dining and bar experiences. As the first brand under SEUI, GameWorks taps SEGA's industry expertise and leading market share across the gaming and amusement facilities businesses to both transform its brand and provide unparalleled entertainment destinations. Developed under the creative direction of entertainment powerhouses Steven Spielberg, Universal Studios and SEGA, GameWorks is the leader in location-based entertainment. The company operates venues in 17 domestic locations and maintains numerous international partnerships. Serving millions of guests annually, GameWorks features signature bar and dining experiences through its GameWorks Grill, Jax Grill, Hopscotch Lounge and the newly launched Arena Sports Bar & Grill. In addition to providing innovative entertainment to the general public, GameWorks also hosts hundreds of specialty events throughout the year, and through its internal party-planning department can accommodate corporate affairs, teambuilding outings, birthday parties and various other private events.

About Robert K. Futterman & Associates:

The country’s leading independent real estate firm specializing in retail leasing and investment sales, Robert K. Futterman & Associates LLC (RKF) serves a broad spectrum of domestic and global clients in services ranging from national tenant and owner representation to advisory, consulting and disposition. With over $2 billion in aggregate real estate transactions to its credit, RKF has been responsible for identifying scores of real estate opportunities throughout the United States for leading American and international chains, retailers, developers and institutional clients. RKF is headquartered in New York with offices in Las Vegas, Los Angeles, and San Francisco, with Miami opening soon.