Rick's Cabaret Nears Completion of New York City Club, with Grand Opening Set for Mid-September
NEW YORK CITY--(June 21, 2005)--Rick's Cabaret International,
which operates gentlemen's clubs in major cities, said today it
is nearing completion of extensive remodeling of the building that
will house its plush new venue in New York City. The new Rick's
Cabaret-NYC (at 50 West 33rd Street) is expected to open for
business in August, with a grand opening scheduled for mid-September.
new Rick's Cabaret will be without doubt the ultimate cabaret in
midtown Manhattan," said Eric Langan, CEO of the company.
"We stripped the building to its bare walls and have constructed
an amazing three-story complex that includes a luxurious open bar
and stage setting on the first floor, a first class restaurant that
will be open 'til 4 a.m. on the second floor, and a unique VIP suite
on the third. We'll be finished in about eight weeks and Ed Anakar,
our general manager, is already conducting interviews. Prospective
dancers, managers and other candidates can contact him at 646-326-6049
or [email protected].
The opening is subject to receiving final permits from the City
of New York, Mr. Langan said, noting that the permitting process
has gone smoothly up to now.
Rick's Cabaret purchased the former Paradise Club near Madison Square
Garden, Penn Station and the Empire State Building in January. When
renovation is completed, Rick's Cabaret-NYC will become the company's
flagship location. Presently Rick's Cabaret operates clubs in Houston,
Minneapolis, Charlotte, New Orleans and other cities.
Rick's Cabaret International, Inc. (NASDAQ:
owns and 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, New Orleans, Houston, Minneapolis and
other cities under the names "Rick's Cabaret," "XTC," "Club Onyx"
and "Hummers." No sexual contact is permitted at any of these locations.
Rick's Cabaret also owns an adult Internet membership Web site,
and a network of nine online auction sites for adult products under
the flagship URL www.naughtybids.com.
Rick's Cabaret common stock is traded on the NASDAQ SmallCap market
under the symbol RICK. For further information contact [email protected].
This press release may contain forward-looking information within
the meaning of Section 21E of the Securities Exchange Act of 1934
that involves significant risks and uncertainties, and is subject
to the safe harbors created by this section. Important factors that
could cause actual results for Rick's Cabaret to differ materially
from those indicated in this press release include the risks and
uncertainties as to the future operational and financial results
of our Web sites, conditions relevant to real estate transactions,
the future operational performance of our partners, the laws governing
the operation of adult entertainment businesses, competitive and
economic factors, dependence on key personnel and the ability to
manage operations. Rick's Cabaret has no obligation to update or
revise the forward-looking statements to reflect the occurrence
of future events or circumstances. Please refer to the documents
Rick's Cabaret files from time to time with the Securities and Exchange
Commission, in particular the most recent quarterly reports on Form
10-QSB and annual report on Form 10-KSB, which are available at
the company's website, www.ricks.com.
Contact for further information: Allan Priaulx, 212-338-0050, [email protected]