In 1965, the first Ponderosa restaurant opened in Kokomo, Indiana. It quick became famous for its steaks. Over the years the company also added a buffet. In less than a year, the company established twenty-five more restaurants and moved its headquarters from Kokomo to Dayton, Ohio. In 1994, the firm moved its headquarters from Dayton, to Dallas, Texas, as the Metromedia Restaurant Group, located in Dallas, now owned the chain along with Bonanza, Bennigan's, and Steak and Ale restaurants. Today, Ponderosa is one of the largest chain steakhouses in the world, with more than five hundred restaurants in the United States, principally in the Midwest, and almost fifty restaurants in other countries.