HOUSTON, Jan. 26, 2015 /PRNewswire/ -- RCI Hospitality Holdings, Inc. (NasdaqGM: RICK) today announced preliminary plans to celebrate major milestones in 2015 – its 20th anniversary as a publicly traded company, the 10th anniversary of Rick's Cabaret New York gentlemen's club, and the 1st anniversary of Vivid Cabaret New York.
Activities include:
- Special events at both Rick's and Vivid related to the pro football championship on February 1st.
- The Jaguars Phoenix adult club will also promote events related to the big game, which is being held this year in nearby Glendale.
- Vivid's 1st anniversary celebration is scheduled for February 10th-14th to coincide with the pro basketball break in New York City.
- Rick's Cabaret New York's 10th anniversary is scheduled for October 13th-17th.
- RCI subsidiaries will also feature special branding, as appropriate, marking the 20th anniversary of the parent company's Initial Public Offering on websites and printed materials.
- Announcements with more details will be forthcoming over the course of the year.
Robert Watters founded the company in 1983 in Houston with the Rick's Cabaret gentlemen's club concept. In 1998, the company merged with the XTC Cabaret chain owned by Eric Langan. When he was 21, Langan sold his baseball card collection to open his first club in Texas.
The early days as a publicly traded company (originally named Rick's Cabaret International, Inc.) were challenging. During the first 10 years, the stock fell more than half. Since then, however, the shares have risen more than three fold.
"We've got a lot to celebrate – 20 years of innovation in the adult club segment of the hospitality industry," said Langan, now 46, who eventually became President and CEO. "We have created a truly upscale, friendly chain of gentlemen's clubs for both customers and entertainers, and built it into a more than $120 million in revenue company through acquisition and internal growth.
"We brought the concept to Manhattan in 2005 with Rick's Cabaret New York. Critics said it would never work. We did it again last year with Vivid Cabaret New York aimed at younger professionals. Rick's has become the No. 1 club in the city and Vivid the hottest new club.
"Now, we are taking this spirit of innovation to three closely related areas. We have created the Bombshells sports bar/restaurant chain in Texas, which is attracting a lot of interest from individuals interested in franchises.
"We are expanding the market reach of Robust energy drinks as a higher-margin, better tasting alternative for bars and restaurants. And we look forward to the launch of a REIT that will acquire adult club real estate from RCI, reducing our debt and enhancing our liquidity, as well as from other owners of other clubs around the country."
About RCI Hospitality Holdings, Inc. (NasdaqGM: RICK)
With 45 units, RCI Hospitality Holdings, Inc., through its subsidiaries, is the country's leading company in adult gentlemen clubs and sports bars/restaurants. Adult clubs in New York City, Miami, Philadelphia, Charlotte, Dallas/Ft. Worth, Houston, Minneapolis, Indianapolis and other cities operate under brand names, such as "Rick's Cabaret," "XTC," "Club Onyx," "Vivid Cabaret," "Jaguars" and "Tootsie's Cabaret." Sports bars/restaurants operate under the brand name "Bombshells." Please visit http://www.rcihospitality.com/
Forward-Looking Statements
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 press release, 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. The company has no obligation to update or revise the forward-looking statements to reflect the occurrence of future events or circumstances.
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SOURCE RCI Hospitality Holdings, Inc.
