Grand Opening of Rick's Cabaret Luxurious New York City Club Scheduled September 21-24; CEO Owes It All To His Baseball Card Collection
NEW YORK CITY--(September 19, 2005)-- Rick's
Cabaret International, Inc. the publicly traded [RICK:NASDAQ]
gentlemen’s club operator,
stages a four-day Grand Opening party for its first nightclub in
New York September 21st through September 24th (8 pm to 4 am, each
night). If it weren’t for baseball cards the hot new club
at 50 West 33rd Street just down from Madison Square Garden and
Penn Station, and across from the Empire State Building, probably
Cabaret’s debut in Manhattan marks the 10th in the chain of
upscale clubs owned by the publicly traded company headed by CEO
Eric Langan, now 37 years old. The boyish Langan says he owes his
career to his collection of baseball cards, which he sold at the
age of 21 to get $40,000 for the down payment to buy a topless club
It was the start of a classic American success story that culminates
in the New York City location, a luxurious three-story gentlemen’s
club with a first class restaurant (chef Daniel Cohn is a graduate
of the Culinary Institute of America) and state of the art amenities.
Rick’s Cabaret-NYC is also Langan’s biggest investment
so far, but he is confident it is also the safest bet he’s
ever made. “The value of the club has already increased substantially
since we bought it in January for of $7.6 million plus $3 million
in improvements,” Langan says. “
The company has projected that the New York City location will significantly
increase gross, which in 2004 was $16 million, and contribute commensurate
new net income.
More than 500 young women have already applied to work at the midtown
cabaret, and Langan and his crew have chosen the most beautiful
and most friendly of them to staff the club. They have also hired
as chef Daniel Cohn, a graduate of the Culinary Institute of America
and former executive chef at New York City’s Playwright Tavern
and the famous Junior’s Restaurant and Bakery in Brooklyn.
Cohn will serve steak and lobster dinners ‘til 4 a.m. daily.
“During a ‘sneak peek’ soft launch over the past
two weeks we’ve received nothing but compliments about our
entertainment, bar service and restaurant,” says Langan. “What’s
particularly gratifying is that lots of our customers are Wall Street
guys who appreciate having a first class establishment in midtown.
Once they see us in action they feel more comfortable with our stock,
which is a nice bonus.”
Rick’s Cabaret International, Inc. (NASDAQ: RICK, www.ricks.com)
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 the 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.
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,
to Editors: For press invitations to Rick’s Cabaret-NYC
Grand Opening contact Dana at [email protected]
or call 212-338-0050.