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The Italian Cafe, LLC

The State of Illinois has made it legal for an establishment that serves liquor to operate up to 5 slot machines in municipalities or counties that have approved the use of the machines. According to the March 2016 Illinois Gaming Board’s Video Gaming Report, there were 5,351 licensed establishments housing a total of 22,815 video gaming machines in which $1,246,220,355.10 was played or $54,622.85 average per licensed machine. $1,147,343,968.57 was paid out to players on those machines. The Net Wagering Activity (Profit) was $98,876,386.53, or $18,478.11 average per licensed establishment. Many establishments saw profits of $50,000, $60,000, $70,000 or $80,000 in March. The licensed establishment receives 35% of the net wagering activity. With 5 slot machines, many establishments have more than doubled their net income from their restaurant operation. As a result of the profitability of the slot machines, many successful restaurant operators would like to expand the number of restaurants they own. Their expansion desires are limited by capital. The Italian Cafe, LLC solves that problem, and now you can get a share of the profits from The Italian Cafe, LLC.

The Italian Cafe, LLC is an Illinois series limited liability company. The LLC and each of its designated Series are separate operations. Each Series operates as an autonomous entity. Each Series, with the restaurant operator, will locate a property suitable for a restaurant and bar operation in a municipality that has approved the video gaming machines. The series will negotiate a reasonable lease on the property with the property owner. The lease will be for a term of at least ten years including options, and a right to sublease the property to the restaurant operator.

How it works

The Italian Cafe LLC Series will negotiate a sub-lease with the restaurant operator. The sub-lease will require the tenant to pay a fixed base rent sufficient to cover the Series rent and the repayment of the Series buildout or remodeling funds advanced by The Italian Café, LLC to the Series over ten years with interest, and make a profit. The sub-lease will also include a percentage rent provision providing for percentage rent on gross food and beverage sales of a percentage which is contemplated to provide the series with 50% of the anticipated food and beverage net income of the restaurant and bar operation. The sub-lease percentage rent provision will also require percentage rent of 50% of all other income, such as the income generated by the establishment from the 5 video gaming machines.

With this structure, the restaurant operator is able to sub-lease and run a restaurant operation without having to expend a large amount of money to build out the restaurant. The restaurant operator will only need the cost of its specialized equipment, food, security deposit and initial marketing and operating costs to open the restaurant. The restaurant operator is responsible for obtaining and maintaining the business license, liquor licenses and gaming licenses. The Italian Café, LLC Series is a landlord and, in that capacity, is not responsible for the restaurant operation. In the event the operator does not pay the fixed base rent or the correct percentage rent, The Italian Café, LLC Series may terminate the sub-lease and sub-lease the establishment to a new restaurant operator.

For additional information about the Company, it’s Title III Crowdfunding Debenture Offering or how to purchase The Italian Café’s Debentures on the Crowdsourcefunded.com investment portal please call us at (847) 719-3499 or email Morris@goitaliancafe.com or Chris@goitaliancafe.com.

Thanks again,

Morris and Chris

Join the Italian Café, LLC in earning a return from food, slots and spirits.