TGI Fridays returns to Las Vegas with five-restaurant franchise deal

Overview

Updated 1 hour ago

TGI Fridays will return to Las Vegas under a development agreement with LVP Food Service Concepts, an entity of LV Petroleum. The franchisee plans to open five Fridays restaurants in the market over the next three years, with sole rights to the Las Vegas territory.

The deal is TGI Fridays' second domestic development agreement in three months, following a New York pact with Bliss Bites. It is part of the chain's '1-2-3 Strategic Vision,' which targets more than 1,000 units and $2 billion in annual revenue by 2030.

Why it matters

If the five-restaurant plan holds, it would give TGI Fridays a template for using local franchisees to re-enter markets where the brand once operated.

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Key Indicators

New Las Vegas restaurants planned

LVP Food Service Concepts will open five TGI Fridays over three years.

Years to open the five restaurants

The development agreement sets a three-year window.

1,000

Global unit target by 2030

TGI Fridays' 1-2-3 Strategic Vision aims for more than 1,000 units.

$2B

Annual revenue target by 2030

The chain's growth plan targets $2 billion in annual revenue.

~400

Current global restaurants

TGI Fridays operates nearly 400 restaurants in almost 40 countries.

Domestic development deals in three months

The Las Vegas deal follows a New York agreement with Bliss Bites.

Voices

Curated perspectives — historical figures and your fellow readers.

People Involved

Ashley Kirkley

Chief operating officer, TGI Fridays

Leading TGI Fridays' domestic expansion push

Jeanette Davis

Senior vice president, LV Petroleum

Quoted on LV Petroleum's TGI Fridays development plan

Organizations Involved

TGI Fridays

Restaurant chain

Franchisor expanding domestic footprint

Global casual dining chain founded in 1965, operating nearly 400 restaurants in almost 40 countries.

LVP Food Service Concepts, LLC

Franchisee

Sole TGI Fridays franchisee for Las Vegas market

Las Vegas franchisee entity of LV Petroleum with sole rights to develop TGI Fridays in the market.

LV Petroleum

Travel center and restaurant operator

Parent of LVP Food Service Concepts

Las Vegas-based operator of travel centers, convenience stores and franchise restaurants.

Timeline

August 2026 November 2026

2 events Latest: 2 days ago

November 2026
TGI Fridays announces Las Vegas return with LVP Food Service Concepts
Latest Expansion

The franchisee plans five restaurants over three years and gets sole rights to the Las Vegas market.
2 days ago
August 2026
TGI Fridays signs New York development deal with Bliss Bites
Expansion

The agreement is the chain's first domestic development announcement in three months.
August 2026

Scenarios

TGI Fridays opens all five Las Vegas locations by 2029

Likely Resolves by Nov 9, 2029

Discussed by: TGI Fridays and LVP Food Service Concepts announcements

LVP Food Service Concepts uses its sole-market rights to open five Fridays in traditional and non-traditional hotel and casino sites. The three-year window runs through November 2029.

Las Vegas TGI Fridays expansion stalls as franchisee delays openings

Possible Resolves by Nov 9, 2028

Discussed by: Industry analysts watching casual dining franchisee rollouts

LVP Food Service Concepts opens fewer than three locations within the first two years, citing construction or casino partnership delays. The chain's domestic growth narrative weakens.

TGI Fridays reaches 1,000 global units ahead of 2030 target

Unlikely Resolves by End of 2030

Discussed by: TGI Fridays' 1-2-3 Strategic Vision

The chain's franchise-led expansion, including the Las Vegas and New York deals, accelerates enough to hit its 1,000-unit goal before 2030. The milestone would mark a full turnaround from its recent U.S. contraction.

Historical Context

2 moments from history that rhyme with this story — and how they unfolded.

1965

TGI Fridays founded (1965)

TGI Fridays opened as the world's first casual bar and grill, combining American food, cocktails and a celebratory atmosphere. The concept grew into a global chain.

Then

The brand became a cultural staple of suburban casual dining.

Now

It expanded to nearly 400 restaurants in almost 40 countries.

Why this matters now

The Las Vegas franchise pitch leans on that heritage, with the COO calling TGI Fridays 'iconic' and synonymous with celebration.

2014-2026

LV Petroleum builds a franchise portfolio (2014-2026)

Guy Madmon and Val Amiel founded LV Petroleum in Las Vegas in 2014. The company grew into an operator of more than 84 travel centers, 180 quick-service restaurants and 30 convenience stores, holding rights to more than 30 franchise brands.

Then

LV Petroleum became a large regional operator with experience running national brands.

Now

Its entity LVP Food Service Concepts gained the sole right to develop TGI Fridays in Las Vegas.

Why this matters now

The deal shows TGI Fridays betting on a local operator with a proven track record in the market, rather than building corporate stores.