908652--3/16/2009--LANDRYS_RESTAURANTS

related topics

{condition, economic, financial}

{financial, litigation, operation}

{provision, law, control}

{operation, international, foreign}

{cost, regulation, environmental}

{acquisition, growth, future}

{customer, product, revenue}

{gas, price, oil}

{cost, operation, labor}

{stock, price, operating}

{personnel, key, retain}

{property, intellectual, protect}

{cost, contract, operation}

{operation, natural, condition}

{capital, credit, financial}

{control, financial, internal}

{system, service, information}

Risks Related to Our Business The restaurant, hospitality and gaming industries are particularly affected by trends and fluctuations in demand and are highly competitive. If we are unable to successfully surmount these challenges, our business and results of operations could be materially adversely affected. General economic factors may adversely affect our results of operations. Current difficult conditions in the global financial markets and the economy generally may materially adversely affect our business and results of operations. Because many of our restaurants are concentrated in single geographic areas, our results of operations could be materially adversely affected by regional events. Our gaming activities rely heavily on the Nevada gaming market, and changes adversely impacting that market could have a material adverse effect on our gaming business. If we are unable to anticipate and react to changes in food and other costs, or obtain a seafood supply in sufficient quality and quantity, our results of operations could be materially adversely affected. Labor shortages or increases in labor costs could slow our growth or harm our business. We use significant amounts of electricity, natural gas and other forms of energy, and energy price increases may adversely affect our results of operations. The cost of compliance with the significant governmental regulation to which we are subject or our failure to comply with such regulation could materially adversely affect our results of operations. Our officers, directors and key employees are required to be licensed or found suitable by gaming authorities and the loss of, or inability to obtain, any licenses or findings of suitability may have a material adverse effect on us. Our business is subject to seasonal fluctuations, and, as a result, our results of operations for any given quarter may not be indicative of the results that may be achieved for the full fiscal year. Our international operations subject us to certain external business risks that do not apply to our domestic operations. If we are unable to protect our intellectual property rights, it could reduce our ability to capitalize on our brand names, which could have an adverse affect on our business and results of operations. We face the risk of adverse publicity and litigation, the cost or adverse results of which could have a material adverse effect on our business and results of operations. Health concerns relating to the consumption of seafood, beef and other food products could affect consumer preferences and could negatively impact our results of operations. Restaurant companies have been the target of class actions and other lawsuits alleging, among other things, violation of federal and state law. Rising interest rates would increase our borrowing costs, which could have a material adverse effect on our business and results of operations. We may not be able to access capital markets when necessary. The capital costs of our specialty and gaming divisions are extremely high. As a result, if any of these projects do not perform as expected, it could have a material adverse effect on our operations. The loss of Tilman J. Fertitta, our Chairman, President and Chief Executive Officer, could have a material adverse effect on our business and development. There are inherent limitations in all control systems that may result in undetected errors. Tilman J. Fertitta is a Control Shareholder. Tilman J. Fertitta s ownership of over 50% of our common stock could adversely affect our share price and make future equity offerings more difficult.

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908652--3/16/2009--LANDRYS_RESTAURANTS_INC