The restaurant attracted a cult following among Coloradans since its opening, and is considered by many to be an iconic establishment of Lakewood and the greater Denver metropolitan area.

In 2019, The Denver Post published a feature on the restaurant and described the decor, saying, "Its pink exterior conceals a vast network of nooks and crannies inside.

By the mid-1970s, the chain had expanded to locations in adjacent states and was known for its "all you can eat" beef or chicken plates and offering sopapillas—small squares of fried bread served with honey—with every meal.

In 1982, Casa Bonita's parent company, which also owned Taco Bueno fast food restaurants, was sold to Unigate (later Uniq plc).

It was reopened by Star Buffet under the original name in late July 2008 but closed again in 2011, leaving the Lakewood location as the last Casa Bonita.

In March, several employees reported that their most recent paychecks had bounced due to insufficient funds in the Casa Bonita payroll account.

[18] On September 23, 2021, South Park creators Trey Parker and Matt Stone reached an agreement to purchase the restaurant for $3.1 million.

A group named "Save Casa Bonita" filed an objection to Parker and Stone's purchase, pointing out that they had in fact made an offer first.

The website Roadside America mentions that the restaurant has "Wild West shootouts, brawling pirates, [and] a dancing gorilla" that "can be viewed while you eat".

Since 2023, as a nod to its new owners, the restaurant has references to South Park, such as a prop of Eric Cartman having food in his iconic table and a ManBearPig meet-and-greet.

The Tulsa location also included a puppet and magic show theater, a video arcade, a working carousel, and a gift shop.

In late July 2008, the restaurant, having been sold back to its previous owner group, reopened under the original Casa Bonita name.

[41] Just days before its much-anticipated reopening, Casa Bonita rescinded its original employment contracts and asked staff to sign new agreements that may amount to smaller wages.

Casa Bonita initially advertised salaries ranging from $14.27 to $15.27 for servers and bartenders, in addition to tips, and employees signed contracts earlier in the spring agreeing to the wages.

[45] Other episodes that mention it briefly are: "Quest for Ratings" (where a clock is labeled as showing the time at Casa Bonita), "You Have 0 Friends", "201" (where the restaurant is reportedly destroyed), "Let Go, Let Gov", and "South ParQ Vaccination Special".

[47] In one of downloadable content packs to the video game South Park: The Fractured But Whole, the restaurant plays a central role in the story.