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November 16, 2009

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Venetian restaurant posts strong sales

Friday, Aug. 13, 1999 | 11:06 a.m.

The Cheesecake Factory Inc. said its Grand Lux Cafe restaurant at the new Venetian resort on the Las Vegas Strip "is a solid success so far," attracting a mix of hotel guests and Las Vegas residents.

Cheesecake Factory Chairman David Overton said weekly sales have climbed steadily since the restaurant opened in May at the $1.5 billion Strip resort.

"Based on our most recent sales volumes, annualized sales per square foot are currently tracking in excess of $1,000, which is higher than the industry leading average of about $900" for each of the company's 30 restaurants, he said.

"Financially, Grand Lux Cafe is performing ahead of our initial expectations and we are very pleased with that," Overton said.

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