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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 12, 1998
AMERICAN VANTAGE COMPANIES
(Exact name of registrant as specified in its charter)
Nevada 0-10061 04-2709807
(State or Other Jurisdiction (Commission File Number) (IRS Employer Ident.
of Incorporation) No.)
6787 West Tropicana, Suite 200, Las Vegas, Nevada 89103
(Address of Principal Executive Offices) (Zip Code)
(702) 227-9800
Registrant's telephone number, including area code
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Item 5. Other Events.
On November 12, 1998, Sitka Restaurant Group, Inc. ("Sitka"), a
wholly-owned subsidiary of American Vantage Companies (the "Company"), entered
into a license agreement (the "License Agreement") with World Championship
Wrestling, Inc. ("WCW") to create and develop one or more themed restaurants to
be named the WCW Nitro Grill. The Company agreed to guarantee all payments due
from Sitka to WCW.
The License Agreement will commence on the earlier of May 1, 1999 or
the opening of the first WCW Nitro Grill and will remain in effect so long as
Sitka continues to open a minimum number of restaurants or, in the alternative,
meeting certain minimum royalties. The License Agreement provides for Sitka to
make certain minimum guaranteed payments upon opening of each restaurant and
annually thereafter to WCW against royalties payable to WCW based on the gross
sales of food and beverages, merchandise and fee-based attractions and/or
promotions
On November 19, 1998, Sitka entered into a ten year lease for
restaurant space with New Castle Corp. for the location of the first WCW Nitro
Grill. The first WCW Nitro Grill will be located in the Excalibur Hotel and
Casino in Las Vegas, Nevada. The Company expects to expend approximately
$2,500,000 to develop the restaurant.
Item 7. Exhibits.
99.1 Press Release of American Vantage Companies, dated November 23,
1998.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
AMERICAN VANTAGE COMPANIES
(Registrant)
Date: December 2, 1998 By: /s/Ronald J. Tassinari
Ronald J. Tassinari
President
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EXHIBIT INDEX
Exhibit No. Description
99.1 Press Release of American Vantage Companies,
dated November 23, 1998.
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EXHIBIT 99.1
FOR IMMEDIATE RELEASE
MONDAY, NOVEMBER 23, 1998
AMERICAN VANTAGE COMPANIES ENTERS THE RING IN A PARTNERSHIP WITH WORLD
CHAMPIONSHIP WRESTLING
LAS VEGAS, NEVADA, NOVEMBER 23, 1998 ---- American Vantage Companies (NASDAQ:
ACES) announced today 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 Company (NYSE:TWX) to develop themed restaurants
known as "WCW/nWo Nitro Grill". The first of such restaurants will be located in
the Excalibur Hotel and Casino ("Excalibur") on the Las Vegas Strip in Las
Vegas, NV. The Excalibur, a 4008 room, medieval themed, family hotel/casino is a
property of Circus Circus Enterprises (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 between WCW, nWo Hollywood and nWo Wolfpac (the two renegade branches of
the WCW) has caused an increase in television viewership. Currently, over 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
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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 Companies (NASDAQ:ACES) 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 U.S. and in over 25 countries throughout the world. For
information on the WCW visit their websites at www.WCW.com and
www.NWOwrestling.com.
Circus Circus Enterprises, Inc. owns and operates gaming and hotel properties in
Nevada, Mississippi and Illinois.
This press release may contain forward-looking statements, which 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 website at
www.nitrogrill.com and on the Securities and Exchange Commission's website at
www.sec.gov.
CONTACT: American Vantage Companies
Audrey Tassinari, Executive Vice President
702-227-9800
WCW
Casey Collins
404-603-2554
Excalibur Hotel & Casino
Paul Speirs
702-597-7118
Leisure Concepts, Inc.
Janna Silverglade
212-758-7666
