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TGI Fridays has permanently closed its locations inside four Las Vegas casinos, raising further concerns over the restaurant chain’s future following its bankruptcy filing in November 2024.
The restaurants, situated at The Orleans, Sam’s Town, Aliante, and Gold Coast casinos, were operated by Boyd Gaming and ceased operations abruptly last Friday. These were the only TGI Fridays locations in Nevada, leaving the state without any remaining outlets.
Boyd Gaming confirmed the closures and suggested that new developments were already in motion. “We are already working on exciting new concepts for these spaces,” a company spokesperson declared. However, the company did not provide further details on what will replace the restaurants.
Once a dominant force in the casual dining industry, TGI Fridays has seen a significant decline in recent years. TGI Fridays, established in 1965 by Alan Stillman in New York City, revolutionised the American dining scene by introducing the concept of the ‘fern bar’—a casual, plant-adorned setting that catered to young professionals seeking a social atmosphere.
This innovative approach quickly gained popularity, leading to rapid expansion across the United States and internationally. At its peak, TGI Fridays was running approximately 600 locations worldwide, becoming synonymous with casual dining and vibrant social gatherings.
However, in recent years, the chain has faced significant challenges. Shifting consumer preferences towards other diverse dining options have impacted traditional casual dining establishments.
In addition, economic factors, including rising operational costs and increased competition, have further strained the business. The COVID-19 pandemic exacerbated these issues, leading to reduced foot traffic and financial instability.
According to a Reuters report, the company is facing approximately $37 million (€36.1 million) in debt, further complicating its efforts to stabilise its business.
In November 2024, TGI Fridays filed for Chapter 11 bankruptcy protection in the United States, citing a failed turnaround due to rising interest rates, increased competition, and heavy debt. This move allowed the company to restructure its debts and operations in an attempt to regain stability.
Despite these efforts, the chain has continued to downsize, with numerous locations closing across the country.
As of January 2025, reports indicate that only around 100 locations remain operational in the U.S., reflecting the brand’s ongoing struggle to adapt to the evolving market landscape. Currently, only four company-owned restaurants remain in California, with several franchise-run locations still in operation.