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Waitr Incorporated Reports Recent Business Highlights

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Strong 2Q18 Revenue Growth, Increased Outlook for Full Year 2018

Waitr Incorporated ("Waitr") today reported recent business highlights
for the second quarter ended June 30, 2018.

As previously announced, Waitr has entered into an agreement for a
business combination with Landcadia Holdings, Inc. (NASDAQ:LCA)
("Landcadia"), a special purpose acquisition company, which is expected
to be completed later this year.

Highlights

  • Gross food sales1 for the second quarter of 2018 increased
    136% over the comparable quarter of 2017, which drove a year-over-year
    increase in revenue of 229% for the same period. Due to the strong
    second quarter results, Waitr is increasing its revenue outlook for
    full year 2018 to between $62 million and $67 million, up from its
    previous outlook of between $60 million and $65 million.
  • Waitr is now in 34 markets, up from 15 markets in the second quarter
    of 2017 and 29 markets in the first quarter of 2018.
  • Waitr now has 5,933 contracted restaurants, up 179% from the second
    quarter of 2017.
  • Waitr now has 678,818 active diners, 2 up 179% from the
    second quarter of 2017.

"We are very pleased with the results in the second quarter," said Chris
Meaux, founder and Chief Executive Officer of Waitr. "These results
exceeded our expectations, allowing us to increase our outlook for the
year. Our partnership with Landry's has also helped to accelerate our
growth during the quarter. We currently have 57 of Landry's restaurants
on our platform and expect to add additional restaurants by the end of
the year. We believe that our strong position in our current markets,
proven expansion strategy, strong value proposition to customers and
restaurants, differentiated proprietary technology platform and high
growth business model built in a capital efficient manner has positioned
us well for the long term.

"We are excited about the pending merger with Landcadia which we expect
will provide us with the capital to accelerate our growth in our current
markets, expand into new markets and take advantage of potential
opportunistic acquisitions," continued Meaux. "We are on track to
complete the proposed transaction later this year."

       

Full Year 2018 Outlook

 

      Updated Outlook     Previous Outlook
Gross food sales     Between $260 million and $280 million     Between $255 million and $275 million
Revenue     Between $62 million and $67 million     Between $60 million and $65 million
Markets     45+     45+
 

Landcadia has posted an updated presentation including the business
highlights presented herein at www.landcadiaholdings.com.

Preliminary Results

The financial results presented in this press release are preliminary
and unaudited. They are subject to the completion and finalization of
Waitr's financial and accounting procedures, and reflect management's
estimate based solely upon information available to management as of the
date of this press release. Further information learned during that
completion and finalization may alter the final results. In addition,
the preliminary estimates should not be viewed as a substitute for full
quarter financial statements prepared in accordance with generally
accepted accounting principles in the United States of America.

About Landcadia Holdings, Inc.

Landcadia Holdings, Inc. is a blank check company formed for the purpose
of effecting a merger, capital stock exchange, asset acquisition, stock
purchase, reorganization or similar business combination with one or
more businesses.

About Waitr Incorporated

Founded in 2013 and based in Lake Charles, Louisiana, Waitr is a leader
in on-demand food ordering and delivery. Its platform connects local
restaurants to hungry diners in underserved markets in America's
heartland. Waitr is the most convenient way to discover, order and
receive great food from the best local restaurants and national chains.
Today, Waitr has 5,933 restaurant partners in over 230 cities in the
Southeast U.S.

Important Information About the Proposed Business Combination and
Where to Find It

In connection with the proposed business combination, Landcadia intends
to file a preliminary proxy statement and a definitive proxy statement
with the Securities and Exchange Commission ("SEC"). Landcadia's
stockholders and other interested persons are advised to read, when
available, the preliminary proxy statement and the amendments thereto
and the definitive proxy statements and documents incorporated by
reference therein filed in connection with the proposed business
combination, as these materials will contain important information about
Waitr, Landcadia and the proposed business combination. When available,
the definitive proxy statement and other relevant materials for the
proposed business combination will be mailed to stockholders of
Landcadia as of a record date to be established for voting on the
proposed business combination. Stockholders will also be able to obtain
copies of the preliminary proxy statement, the definitive proxy
statement and other documents filed with the SEC that will be
incorporated by reference therein, without charge, once available, at
the SEC's web site at www.sec.gov,
or by directing a request to: Landcadia Holdings, Inc., 1510 West Loop
South, Houston, Texas 77027, Attention: General Counsel, (713) 850-1010.

Participants in the Solicitation

Landcadia and its directors and executive officers may be deemed
participants in the solicitation of proxies from Landcadia's
stockholders with respect to the proposed business combination. A list
of the names of those directors and executive officers and a description
of their interests in Landcadia is contained in Landcadia's annual
report on Form 10-K for the fiscal year ended December 31, 2017, which
was filed with the SEC and is available free of charge at the SEC's web
site at www.sec.gov,
or by directing a request Landcadia Holdings, Inc., 1510 West Loop
South, Houston, Texas 77027, Attention: General Counsel, (713) 850-1010.
Additional information regarding the interests of such participants will
be contained in the proxy statement for the proposed business
combination when available.

Waitr and its directors and executive officers may also be deemed to be
participants in the solicitation of proxies from the stockholders of
Landcadia in connection with the proposed business combination. A list
of the names of such directors and executive officers and information
regarding their interests in the proposed business combination will be
included in the proxy statement for the proposed business combination
when available.

Forward-Looking Statements

This press release includes "forward-looking statements" within the
meaning of the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995. Landcadia's and Waitr's actual results
may differ from their expectations, estimates and projections and
consequently, you should not rely on these forward looking statements as
predictions of future events. Words such as "expect," "estimate,"
"project," "budget," "forecast," "anticipate," "intend," "plan," "may,"
"will," "could," "should," "believes," "predicts," "potential,"
"continue," and similar expressions are intended to identify such
forward-looking statements. These forward-looking statements include,
without limitation, Waitr's full year 2018 outlook and Landcadia's and
Waitr's expectations regarding the timing of the completion of the
proposed business combination. These forward-looking statements involve
significant risks and uncertainties that could cause the actual results
to differ materially from the expected results. Most of these factors
are outside Landcadia's and Waitr's control and are difficult to
predict. Factors that may cause such differences include, but are not
limited to: (1) the occurrence of any event, change or other
circumstances that could give rise to the termination of the merger
agreement for the proposed business combination (the "Merger
Agreement"), (2) the outcome of any legal proceedings that may be
instituted against Landcadia and Waitr following the announcement of the
Merger Agreement and the transactions contemplated therein; (3) the
inability to complete the proposed business combination, including due
to failure to obtain approval of the stockholders of Landcadia or other
conditions to closing in the Merger Agreement; (4) the occurrence of any
event, change or other circumstance that could give rise to the
termination of the Merger Agreement or could otherwise cause the
transaction to fail to close; (5) the receipt of an unsolicited offer
from another party for an alternative business transaction that could
interfere with the proposed business combination; (6) the inability to
obtain or maintain the listing of the post-acquisition company's
ordinary shares on Nasdaq following the proposed business combination;
(7) the risk that the proposed business combination disrupts current
plans and operations as a result of the announcement and consummation of
the proposed business combination; (8) the ability to recognize the
anticipated benefits of the proposed business combination, which may be
affected by, among other things, competition, the ability of the
combined company to grow and manage growth profitably and retain its key
employees; (9) costs related to the proposed business combination; (10)
changes in applicable laws or regulations; (11) the possibility that
Waitr or the combined company may be adversely affected by other
economic, business, and/or competitive factors; and (12) other risks and
uncertainties indicated from time to time in the proxy statement
relating to the proposed business combination, including those under
"Risk Factors" therein, and in Landcadia's other filings with the SEC.
Landcadia cautions that the foregoing list of factors is not exclusive.
Landcadia cautions readers not to place undue reliance upon any
forward-looking statements, which speak only as of the date made.
Landcadia does not undertake or accept any obligation or undertaking to
release publicly any updates or revisions to any forward-looking
statements to reflect any change in its expectations or any change in
events, conditions or circumstances on which any such statement is based.

1 Gross food sales represents food and beverage receipts,
plus taxes, prepaid gratuities and delivery fees.
2
Active diners represents diners who have placed an order over the past
12 months.

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