Rick's Cabaret Says Hurricane Katrina Will Not Affect Its Operations; Independent New Orleans Location Operates Under One-Time License Fee
HOUSTON--(August 29, 2005)--Rick's Cabaret International,
Inc.[RICK:NASDAQ],operator
of adult nightclubs, said today that Hurricane Katrina will have
no effect on its revenue or earnings because the independent Rick’s
Cabaret nightclub in New Orleans operates under a one-time license
fee.
“Revenue
and earnings from the New Orleans club have not been part of Rick’s
Cabaret International since the payment of a one-time license fee
in1999, and therefore the closure of this facility during the threat
from Hurricane Katrina will have no impact on our operations,”
said Eric Langan, CEO of Rick’s Cabaret. “We are concerned
for everyone in the affected area and particularly our colleagues
at the Rick’s Cabaret on Bourbon Street. We hope that everyone
will remain safe.”
About
Rick's Cabaret
Rick's Cabaret International, Inc. (www.ricks.com)
operates upscale adult nightclubs serving primarily businessmen
and professionals that offer live adult entertainment and high quality
restaurant and bar operations. The company owns, operates or licenses
eleven adult nightclubs in New York City, New Orleans, Houston,
Minneapolis, Charlotte 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, www.couplestouch.com,
and a network of nine online auction sites for adult products under
the flagship URL www.naughtybids.com 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].
Forward-Looking Statements:
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]