Rick's Cabaret Reports 33.7 Percent Increase In January Nightclub Revenues Over Prior Year
New York City Club up 70 Percent over Last Year
HOUSTON -(February 8, 2007)- Rick's Cabaret International,
the publicly traded national chain of gentlemen's clubs, said
today its nightclubs generated revenues of $2,361,118 in January,
a 33.7 percent increase over the prior year figure of $1,765,484,
despite winter storms that closed some clubs and affected
sales in others for several days.
"We had a strong year-over-year performance at our Rick's Cabaret-NYC
location, which was up 70 percent," said Eric Langan,
President and CEO
of the company. "We are also very
pleased with the results of the two new Club Onyx locations in South
Houston and Charlotte. Our newest Rick's Cabaret clubs in Austin
and San Antonio did very well in their opening weeks, even though
they were impacted by lingering severe weather. The storms also
affected the Minneapolis club and all of our clubs in Houston. After
the winter storms passed, things quickly got back to normal."
Same store sales in January 2007 were $2,075,912, compared with
$1,765,484 in 2006, an increase of 17.6 percent.
About Rick's Cabaret
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 and operates or licenses adult
nightclubs in New York City, New Orleans, Charlotte, Houston, Minneapolis
and other cities under the names "Rick's Cabaret," "XTC"
and "Club Onyx." 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 online adult auction sites under the flagship URL
Cabaret common stock is traded on NASDAQ under the symbol RICK.
For further information contact [email protected]
or visit www.ricks.com.
This press release may contain 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 New York City and elsewhere, the success or lack thereof in launching
and building the company's businesses in New York City and elsewhere,
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 go to www.ricks.com.