El Corazon

About the offering

El Corazón is an upscale Mexican restaurant and events venue being developed at Treasure Island hotel on the Las Vegas Strip. The project is led by Jonathan Fine, a native Las Vegan previously named 'Entrepreneur of the Year' by the Small Business Administration, whose Fine Entertainment portfolio includes PBR Bar at Planet Hollywood (over $22M in its last full year), The George at Durango (nearly $15M annually), and Smelly Cat (nearly $5M/year), collectively serving over 1 million meals per year and maintaining a loyalty base of 170,000+ customers. El Corazón will occupy approximately 23,000 square feet — roughly four times the size of an average fine dining restaurant — in the same space previously occupied by Señor Frogs, which did $16–18M in revenue in its final year there. The venue is designed around six distinct revenue engines: (1) a dinner destination with premium entrees and seafood, (2) a bar and agave program featuring high-margin cocktails and tequila flights, (3) a destination lounge, (4) private dining and events including corporate and casino group buyouts, (5) conventions and weddings, and (6) a late-night and VIP lounge with memberships and bottle lockers. Treasure Island has committed $5M in tenant improvement dollars, and a 10-year lease described as below-market has been signed. Construction is underway, with a target opening date of January 2027. The location sits on one of the busiest corners of the Strip, with approximately 85,000 people walking past daily. Nearby landmarks include The Palazzo at The Venetian (directly across the street), the new Hard Rock Hotel (next door), the Wynn, Sands Convention Center, and The Sphere. For context, TAO Las Vegas, located directly across the street, was twice named America's highest-grossing independent restaurant at $42.5M per year. The current Regulation CF raise is targeting $4,999,999.68, with funds allocated primarily to facilities build-out (76.6%), marketing ad buys (12%), DealMaker success fees (8.5%), DealMaker and affiliates' service fees (2.4%), and legal and professional services (0.5%). The broader capital target for the full project is $12M. The pre-money valuation is $21,840,000, with shares priced at $1.56 and a minimum investment of $546. Financial projections show Year 1 revenue of $21M (conservative) to $28.8M (high case), growing to over $33M by Year 3. The company projects cash-flow positivity from the start, with Year 3 net income ranging from $1.4M (low case) to $4.0M (high case). Investor perks are tiered by investment amount, ranging from a Speakeasy Membership at $5,000+ to F1 Terrace Access and a private bottle locker at $100,000+. A limited-time bonus share promotion offers up to an additional 4% in bonus stock through September 24. Shares are common stock subject to a one-year lockup period under Regulation CF rules. The offering is administered through DealMaker Securities LLC.

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