Ark Restaurants Corp. Q3 FY2025 earnings call

• Balance sheet: Cash at quarter end is $12 million, debt is $3.9 million. Credit agreement extended through 6/1/2028 with $20 million capacity, balloon notes extended. Sequoia's leasehold improvements in right-of-use assets had an additional impairment of $4.7 million. - Restaurants: Las Vegas strong, New York's Robert and Fort Lauderdale's Rustic above expectations; other restaurants perform as expected but demand down in some areas. - Sequoia in DC suffering from low foot traffic and event business decline. - Bryant Park in litigation, beginning discovery, expected 2-3 year process. - Meadowlands casino license possibilities linked to NY state's casino license announcements.

No specific product segment financial performance with absolute terms and revenue contribution % provided. However, individual restaurants: Las Vegas is strong in cash flow; Robert in New York and Rustic in Fort Lauderdale are above expectations; other restaurants perform as expected despite demand diminution in some areas.

• Meadowlands casino license possibilities hinge on NY state announcing 3 casino licenses; NJ likely to move on a casino in the north if NY does, and Ark thinks they're in best position for the license.

• Impairment of Sequoia's leasehold improvements due to cash flow analysis. - Bryant Park in a 2-3 year litigation process. - General demand diminution affecting restaurants' headcounts and visitorships.

Q: Are there any questions?

A: No questions at this time