Rick's Cabaret International, Inc. To Launch "Jaguar's Gentlemen's Club/Austin" In Joint Venture Agreement
AUSTIN, TEXAS - (September 15, 2010) – Rick's Cabaret International, Inc. [NASDAQ-GM:RICK], the nation's leading group of upscale gentlemen's clubs, has formed a joint venture with JGC Austin, LLC to open a new Jaguar's Gold Club.
The nightclub is located at 8110 Springdale Road.
The new Jaguar's Gold Club will launch with a grand opening party on Thursday, September 16th, starting at 7 p.m. til closing at 2 a.m.
"We think the new Jaguar's Gold Club/Austin will be one of the premier gentlemen's clubs in Texas and the Southwest," said Niko Foster, CEO of Jaguar's Gold Club, which operates 12 Jaguar's clubs around the country. "We have completed a $300,000 renovation of the entire 22,000 square foot club, and it is spectacular. We are bringing in girls from all over the southern region for the grand opening and it should be quite a party."
"We believe that the new Jaguar's Gold Club format will be successful in this marketplace and that the club will operate effectively under the management of Niko Foster, who has built the Jaguar's brand into a strong and viable family of clubs," said Eric Langan, President and CEO of Rick's Cabaret International.
Rick's Cabaret International has owned the club, formerly known as Playmates Gentleman's Club, since 2006. The club is located in the northeasternpart of Austin just east of the busy I-35 corridor.
About Rick's Cabaret:
Rick's Cabaret International, Inc. (NASDAQ: RICK) is home to upscale adult nightclubs serving primarily businessmen and professionals that offer live entertainment, dining and bar operations. Nightclubs in New York City, Miami, Philadelphia, New Orleans, Charlotte, Dallas, Houston, Minneapolis and other cities operate 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 Publications, and owns the adult internet membership website www.couplestouch.com as well as a network of online adult auction sites under the flagship URL www.naughtybids.com. Rick's Cabaret common stock is traded on NASDAQ under the symbol RICK. For further information contact [email protected].
Forward Looking Statements
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.
Contact: Allan Priaulx, 212-338-0050, [email protected]