Exhibit 99.1

Red Robin Gourmet Burgers Files Annual Report on Form 10-K,

Restates Results to Reflect Lease Accounting Adjustments

Company Also Files Request to Continue Nasdaq Listing

Greenwood Village, CO — (BUSINESS WIRE) – April 6, 2005 – Red Robin Gourmet Burgers, Inc. (Nasdaq: RRGBE), a casual dining restaurant chain that serves an imaginative selection of high quality gourmet burgers to America’s families, particularly women, teens and tweens, today announced that it has filed with the Securities and Exchange Commission the Company’s Annual Report on Form 10-K for the fiscal year ended December 26, 2004. The Company said that it is now current with respect to its required SEC filings, and as such, it has also filed a request with The Nasdaq Stock Market, Inc. to continue the listing of the Company’s common stock. The Company had previously announced that it had received notice from Nasdaq of potential delisting due to the Company’s failure to file its 2004 Form 10-K on a timely basis. The Company’s request stays the delisting action pending the issuance of a final determination by Nasdaq.

Like many other companies in the retail and restaurant industries, Red Robin has been reviewing its accounting treatment for leases, rent holidays and tenant improvement allowances in light of the views expressed by the Office of the Chief Accountant of the SEC in a February 7, 2005 letter to the American Institute of Certified Public Accountants. Changes to the Company’s lease accounting as a result of the review include adjusting lease terms, as defined in Statement of Financial Accounting Standards No. 13, “Accounting for Leases,” to recognize the effect of renewal options that are reasonably assured of being exercised, the straight-line effect over the lease term of escalating rents during the option periods and the effect of expensing pre-opening rent holidays over the related lease terms. As a result of its review, the Company also adjusted the manner in which it accounts for tenant improvement allowances. As a result of these changes, the Company, in consultation with its independent registered public accounting firm, determined to restate its financial statements for the fiscal years ended December 28, 2003 and December 29, 2002. The audited financial statements included in the Form 10-K for each of these fiscal years and for the fiscal year ended December 26, 2004 reflect the corrections and adjustments resulting from the changes in lease accounting, as well as certain immaterial adjustments, reclassifications and corrections as described in further detail in the financial statements.

The cumulative effect of the restatement resulted in an increase in the accumulated deficit of $590,000 as of December 31, 2001, and decreases in net income of $288,000 ($0.02 per share) and $377,000 ($0.03 per share) from the amounts previously reported for the fiscal years ended December 28, 2003 and December 29, 2002, respectively. The financial statements included in the Form 10-K contain a reconciliation of the restated results for these periods to those that had previously been reported. For the fiscal year ended December 26, 2004, the Company reported net income of $23.4 million, or $1.43 per share, after giving effect to the lease accounting and other adjustments described in the financial statements included in the Form 10-K. The figures for 2004 reflect a reduction in net income of approximately $685,000, or $0.04 per share, from the preliminary, unaudited figures that were previously reported by the Company in its February 14, 2005 press release. The restatement adjustments had no impact on revenues, comparable restaurant sales or cash balances for the relevant periods, nor did they affect the Company’s compliance with covenants under its current credit facility.

The Form 10-K also discloses that as a consequence of the restatement of the Company’s historical financial statements, the Company’s management concluded that a material weakness existed in the Company’s internal control over financial reporting, and to such extent, the Company’s internal control over financial reporting as of December 26, 2004, was not effective.

The Company intends to file amended quarterly reports for the quarters ended April 18, 2004, July 11, 2004 and October 3, 2004 as soon as practicable. Each of these amended filings will include disclosure of the effects of the lease accounting adjustments on the financial statements, including net income, of each of the periods included in the unaudited financial statements.

The Company’s management also intends to provide updated guidance for the first quarter and full-year fiscal 2005 after the stock markets close on Monday, April 11, 2005.

About Red Robin Gourmet Burgers

Red Robin Gourmet Burgers (www.redrobin.com) is a casual dining restaurant chain that serves an imaginative selection of high quality gourmet burgers to America’s families, particularly women, teens and tweens. Red Robin serves gourmet burgers in a variety of recipes with bottomless fries, as well as many other items including salads, soups, appetizers, entrees, desserts, and its signature Mad Mixology® specialty beverages. There are more than 260 Red Robin locations across the United States and Canada, including both company-owned locations and those operated under franchise or license agreements.

Forward-Looking Statements

Certain information contained in this press release includes forward-looking statements. Forward-looking statements include statements regarding our expectations, beliefs, intentions, plans, objectives, goals, strategies, future events or performance and underlying assumptions and other statements which are other than statements of historical facts. These statements may be identified, without limitation, by the use of forward-looking terminology such as “may,” “will,” “anticipates,” “expects,” “believes,” “intends,” “should” or comparable terms or the negative thereof. All forward-looking statements included in this press release are based on information available to us on the date hereof. Such statements speak only as of the date hereof and we assume no obligation to update such forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. These statements involve risks and uncertainties that could cause actual results to differ materially from those described in the statements. These risks and uncertainties include, but are not limited to, the following: our ability to achieve and manage our planned expansion; our ability to raise capital in the future; the ability of our franchisees to open and manage new restaurants; our franchisees’ adherence to our practices, policies and procedures; changes in the availability and cost of food; potential fluctuation in our quarterly operating results due to seasonality and other factors; the continued service of key management personnel; the concentration of our restaurants in the Western United States; our ability to protect our name and logo and other proprietary information; changes in consumer preferences, general economic conditions or consumer discretionary spending; health concerns about our food products and food preparation; our ability to attract, motivate and retain qualified team members; the impact of federal, state or local government regulations relating to our team members or the sale of food or alcoholic beverages; the impact of litigation; the effect

of competition in the restaurant industry; cost and availability of capital; our ability to comply with Section 404 of the Sarbanes-Oxley Act and the effectiveness of our internal controls over financial reporting; additional costs associated with compliance and corporate governance, including the Sarbanes-Oxley Act and related regulations and requirements; the continued listing of our common stock on the The Nasdaq Stock Market, Inc.; and other risk factors described from time to time in SEC reports filed by Red Robin.

For further information contact:

Don Duffy

Integrated Corporate Relations

203-682-8200

RED ROBIN GOURMET BURGERS, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(In thousands, except share amounts)

RED ROBIN GOURMET BURGERS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME

(In thousands, except per share data)

RED ROBIN GOURMET BURGERS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

Schedule 1

Reconciliation of Restaurant-Level Operating Profit to Income

from Operations and Net Income

The Company defines restaurant-level operating profit to be restaurant revenues minus restaurant-level operating costs, excluding restaurant closures and impairment costs. It does not include general and administrative costs, depreciation and amortization, franchise development costs and pre-opening costs. The Company believes that restaurant-level operating profit is an important measure of financial performance because it is widely regarded in the restaurant industry as a useful metric by which to evaluate a company’s restaurant-level operating efficiency and performance. The Company excludes restaurant closure costs as they do not represent a component of the efficiency of continuing operations. Restaurant impairment costs are excluded, because, similar to depreciation and amortization, they represent a non-cash charge for the Company’s investment in its restaurants and not a component of the efficiency of restaurant operations. Restaurant-level operating profit is not a measurement determined in accordance with generally accepted accounting principles (“GAAP”) and should not be considered in isolation or as an alternative to income from operations or net income as indicators of financial performance. Restaurant-level operating profit as presented may not be comparable to other similarly titled measures of other companies. The table that follows sets forth the Company’s calculation of restaurant-level operating profit and a reconciliation to income from operations and net income, the most directly comparable GAAP measures.