TGI Fridays has signed a development agreement with LVP Food Service Concepts, an entity of Las Vegas-based LV Petroleum, to open five restaurants in the Las Vegas market over the next three years. The deal is Fridays’ second US domestic development agreement in three months and advances the brand’s publicly stated goal of reaching more than 1,000 units and $2 billion in annual revenue by 2030.
TGI Fridays filed for Chapter 11 bankruptcy in late 2024 and emerged from that process. The brand has since moved into a growth phase anchored by what it calls the “1-2-3 Strategic Vision,” a plan that sets targets of more than 1,000 units and $2 billion in annual revenue by 2030.
The first domestic development deal announced under that plan was with Bliss Bites LLC, covering five restaurants in New York. The Las Vegas agreement with LVP Food Service Concepts, announced November 9, is the second. Under the terms, LVP Food Service Concepts holds sole rights to the Las Vegas market, with locations planned across both traditional and non-traditional venues, including hotels and casinos.
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Who Is Operating the Las Vegas Franchise
LV Petroleum was founded in 2014 by Guy Madmon and Val Amiel and is headquartered in Las Vegas. The company operates over 84 travel center locations, 180 quick-service restaurants, and 30 convenience stores across the United States. Its portfolio spans more than 30 brands, including Arby’s, Dunkin’ and Bojangles franchises, licensed Starbucks stores, and TravelCenters of America locations.
LVP Food Service Concepts, the specific entity signing the TGI Fridays agreement, focuses on the company’s casual and QSR restaurant operations. The regional scope and multi-brand expertise of LV Petroleum were cited by TGI Fridays as key factors in selecting the partner for the Las Vegas market.
The Angle No Other Outlet Covered: One Operator, Two Concepts, Same Market
LV Petroleum’s franchise portfolio already includes Bojangles, and the company is an active Bojangles franchisee in the Las Vegas market. That detail, confirmed in the company’s own description of its operations, was not noted by any other US outlet reporting on the TGI Fridays announcement.
It places LV Petroleum in an unusual position: a single operator simultaneously expanding two distinct restaurant concepts, one QSR (Bojangles) and one casual dining (TGI Fridays), in the same geographic market. That kind of multi-concept concentration by a single franchisee is a pattern franchise development teams watch closely, since the operator’s focus and capital are distributed across both brands simultaneously.
To know
L’Express previously reported on TGI Fridays’ first domestic development deal, signed with Bliss Bites LLC for the New York market in October 2026. The Las Vegas agreement is a separate transaction with a different franchisee. Together, the two deals represent 10 committed new US units under the 1-2-3 Strategic Vision, out of a stated target of 1,000-plus total units by 2030.
Las Vegas as a Franchise Development Market
The Las Vegas market carries specific characteristics for restaurant franchise operators. The city’s hospitality infrastructure, centered on casino properties and high hotel density, creates both opportunity and complexity. Non-traditional locations in hotels and casinos operate under different lease and revenue-sharing structures than street-level units, and foot traffic patterns are driven by tourism and event calendars rather than residential density.
LV Petroleum’s existing presence in the Las Vegas travel center and QSR sector gives LVP Food Service Concepts a base of local operational knowledge. The five-unit commitment over three years covers both traditional and non-traditional site types, per the announcement, though no specific locations have been named.
What This Deal Signals for Fridays’ Domestic Recovery
Two domestic development agreements in three months marks a pace of franchise activity that is notable for a brand that filed for bankruptcy roughly two years ago. The brand’s 1-2-3 Strategic Vision sets explicit numeric targets, which is an unusual degree of public specificity for a post-bankruptcy recovery plan.
For prospective franchisees evaluating TGI Fridays, the signal from the Las Vegas announcement is that the brand is actively recruiting operators and that multi-brand franchise groups are among those committing. The next measure of progress against the 1,000-unit target will come from the brand’s next reported unit count update.
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