Shari's Restaurants Shuts Down All Oregon Locations and Ends Lottery Partnership

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ICARO Media Group
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21/10/2024 23h21

**Shari's Restaurants Closes All Oregon Locations, Ends Longstanding Lottery Relationship**

The well-known 24-hour pie and video lottery chain, Shari's Restaurants, has ceased operations across Oregon. The Oregon Lottery confirmed today that all remaining locations of the chain, recognized for its unique hexagon-shaped buildings, have now closed their doors.

Founded in Beaverton in 1978, Shari's began the year with 42 locations in Oregon. However, a string of closures had reduced that number to 17 by this week. The Oregon Lottery closely monitored these developments because Shari's video lottery terminals were significant revenue generators, collectively bringing in over $34 million last year. For their role in lottery sales, Shari's earned more than $7 million in commissions.

The financial troubles for Shari's became apparent earlier this year when the chain’s lottery account ran out of funds. As a result, the Oregon Lottery suspended access to the video lottery terminals at all Shari's locations until the company settled its dues and provided a performance bond. When individual stores shut down, Oregon Lottery staff swiftly collected the terminals and sent them to Salem for refurbishment and redistribution to other retailers.

Despite Shari's closure, the Oregon Lottery does not foresee a substantial drop in revenue, as gambling enthusiasts are likely to transfer their activity to nearby establishments. This expectation is backed by previous instances where temporary shutdowns saw players moving to other retailers.

As speculation about Shari's closure grew on social media, the Oregon Lottery sought confirmation from the chain's back office. By midday, Director Mike Wells had informed all staff via email that Shari's was permanently closing. In his message, Wells reflected on Shari's legacy and acknowledged the financial risks of continuing their partnership.

"Ohari’s was an Oregon institution and a longtime Lottery retailer," Wells stated. "While many of you have memories of late-night comfort food, Sunday breakfast, or tasty pies, Shari's has struggled for years, and the financial risks in continuing to partner are simply too great. This decision, while difficult, is the right one for the Lottery and for the State of Oregon."

Currently, Oregon Lottery staff are in the process of deactivating all Shari's terminals and terminating their retail contract. Samuel Borgese, the founder of Shari's parent company, Gather Holdings, confirmed in an email that all Oregon Shari's locations have indeed closed. A spokesperson for Shari's was not immediately available for comment.

The views expressed in this article do not reflect the opinion of ICARO, or any of its affiliates.

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