SOURCE: SoupMan, Inc.

Soupman, Inc.

April 24, 2013 09:00 ET

Soupman Signs Master Development Deal to Open Restaurants in Casinos Throughout North America

NEW YORK, NY--(Marketwired - Apr 24, 2013) - Soupman, Inc. (OTCQB: SOUP), the parent company of the best-tasting soup brand in the world, Original SoupMan®, the inspiration for the famous Seinfeld soup episode, announced today that it has inked a deal with Robert Azinian and CCA Foods, Inc., to lead the expansion of its Al's Famous New York Delicatessen & Restaurant model in Casinos throughout the US and Canada. The next two locations are opening in the Mohegan Resorts Casino in Atlantic City and the Mohegan Sun at Pocono Downs in PA in 2013.

The United States, according to the American Gaming Association (AGA), has more casinos than any other country in North America, with 1,511 casinos and 747,700 slot machines generating over $29 billion annually. The largest casino in North America is Mohegan Sun which is located in CT, with 302 game tables and 13,600 slot/video poker machines and an Original Soupman® restaurant since 2010. This SoupMan restaurant is only 700 sq ft. in a food court and has annual revenue of approximately $1.4 million. Besides popular destinations like Las Vegas, Reno and Atlantic City, according to the AGA, 11 states have commercial casinos and 28 states have Indian casinos.

The Company's new Al's Famous New York Delicatessen & Restaurant model features the world renowned Original SoupMan® soups, a full authentic NY delicatessen menu including fresh sliced pastrami, corned beef and oven roasted turkey and a traditional full breakfast menu including eggs Benedict and bagels & lox of NY tradition. These features are designed to provide an "all day" menu which meets casino guest expectations of quality food at value prices. The deal with Mr. Azinian has a bonus clause for restaurants that exceed $2 million annually and expects 25 franchised units to open in the next 5 years. He said "I believe these new models can double the revenue of the existing unit." He continued, "I look forward to locations with up to 200 seats and waitress service." These units will range from 1,000 sq. ft. to 2,500 sq. ft.

Mr. Azinian stated, '"We believe the casino entertainment venue is perfect for the well-known and award winning soups of New York legend. It puts a new twist on old favorites in a restaurant model which we expect will appeal to seasoned restaurant operators and of course, casino guests." Mr. Azinian operates over 50 restaurants, including 20 Johnny Rockets Hamburgers across the country in casinos and at City Walk at Universal Studios in California. He has been a franchisee in the Johnny Rockets system since 1990.

Robert Bertrand, President of Soupman, Inc. said, "We are excited about having a seasoned, successful restaurateur leading the expansion of our brand in this highly regarded entertainment venue."

In addition to opening franchised restaurants, SoupMan's new shelf-stable carton soups are now being sold in the main soup aisle of supermarkets across the country alongside Campbell's® and Progresso® soups, where over $6 billion a year of soup is sold in the US annually.

About Soupman, Inc.:

In 1984, The Original SoupMan opened its doors at 55th Street & 8th Avenue in Manhattan. The tiny storefront quickly became a worldwide destination. Rated #1 by Zagat and praised by the New York Times as "Art, not Soup," it set the standard for innovation and excellence long before the famous Seinfeld episode made it a cultural icon. The Company sells soup to grocery stores across America, has franchised restaurants and sell soups to foodservice. Shaquille O'Neal serves as an advisor to, and equity partner in the Company, as does Mr. October, Reggie Jackson and Emmy® and Golden Globe® nominated and Tony Award® winning actor Jason Alexander. Tim Gannon, the co-founder of Outback Steakhouse, is the SoupMan Culinary and Business Director and Board Member. www.soupmaninc.com, parent company of The Original Soupman, Inc. is a fully reporting public company trading under the symbol SOUP. For additional information on our company please visit: www.originalsoupman.com. Follow us on Twitter @ OriginalSoupman and "Like" us on Facebook.

Safe Harbor Statement:
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The forward-looking statements are based on current expectations, estimates and projections made by management. The Company intends for the forward-looking statements to be covered by the safe harbor provisions for forward-looking statements. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," or variations of such words are intended to identify such forward-looking statements. The forward-looking statements contained in this press release include, statements regarding the launch of and marketing plans for its Al's Famous New York Delicatessen &Restaurant in casinos across the U.S. and Canada, the anticipated opening of restaurant at the Mohegan Resorts Casino in Atlantic City and the Mohegan Sun at Pocono Downs in PA in 2013, and statements regarding the Company's new shelf-stable product for grocery retail sale and its expected availability. All forward-looking statements in this press release are made as of the date of this press release, and the Company assumes no obligation to update these forward-looking statements other than as required by law. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied by any forward-looking statements such as our ability to secure additional casino locations and attract other seasoned restaurant operators or to implement our marketing plan and the risk factors discussed in the Business and Management's Discussion and Analysis sections in our Quarterly Reports on Form 10-Q, Annual Reports on Form 10-K and Current Reports on Form 8-K. Copies of these filings are available at www.sec.gov

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Contact Information

  • For requests for interviews with Shaquille O'Neal, Jason Alexander, Reggie Jackson, Tim Gannon, management or information, please contact:

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