Rick's Cabaret International, Inc. Plans Reopening Of Two Texas Adult Nightclubs
HOUSTON - (January 14, 2010) - Rick's Cabaret International,
plans a gala reopening party January 21st for its XTC Cabaret South Housto
n club (at 802 Houston Boulevard, Highway 3), which had been closed for renovation for the past several months.
In addition the company will reopen its Rick's Cabaret Austin
(8110 Springdale Road), which was closed pending its sale. The buyer's financing for the transaction fell through late last year and the company has decided to keep the club and relaunch it with a new concept in March 2010. The company has also worked out new parking arrangements and a system to provide guest transportation services from nearby venues.
"Relaunching these two locations will have the effect of making two additional acquisitions at little cost to the company apart from modest capital expenditures," said Eric Langan
, President and CEO of Rick's Cabaret. "We believe the new concept in Austin will perform much better than its previous format and we are pleased to have solved a parking problem in a way that our customers will appreciate."
XTC Cabaret South Houston has been completely renovated and modernized inside and out, with new furnishings and a friendlier, more open interior layout. Acquired in 2006, the club features all-nude dancing and a BYOB format. For further information call (713) 946-9718.
This document contains forward-looking statements that involve a number of risks and uncertainties that could cause the company’s actual results to differ materially from those indicated in this document, including the risks and uncertainties associated with operating and managing an adult business, the business climates in cities where it operates, the success or lack thereof in launching and building the company’s businesses, risks and uncertainties related to the operational and financial results of our Web sites, conditions relevant to real estate transactions, and numerous other factors such as laws governing the operation of adult entertainment businesses, competition and dependence on key personnel. Rick's has no obligation to update or revise the forward-looking statements to reflect the occurrence of future events or circumstances. For further information visit www.ricks.com.
Rick's Cabaret International, Inc. (NASDAQ: RICK) operates upscale adult nightclubs serving primarily businessmen and professionals that offer live adult entertainment, restaurant and bar operations. The company owns, operates or licenses adult nightclubs in New York City, Miami, Philadelphia, Las Vegas, New Orleans, Charlotte, Dallas, Houston, Minneapolis and other cities under the names "Rick's Cabaret," "XTC," "Club Onyx" and "Tootsie's Cabaret". Sexual contact is not permitted at these locations. Rick's Cabaret also operates a media division, ED Publication, and owns the adult Internet membership Web site, couplestouch.com as well as a network of online adult auction sites under the flagship URL naughtybids.com. Rick's Cabaret common stock is traded on the NASDAQ Global Market under the symbol RICK. For further information contact [email protected].
Media Contact: Allan Priaulx, 212-338-0050, [email protected]