Rick’s Cabaret International, Inc. Plans Reopening of Two Texas Adult Nightclubs
January 14 2010 - 9:00AM
Business Wire
Rick’s Cabaret International, Inc. (NASDAQ:RICK) plans a
gala reopening party January 21st for its XTC Cabaret South
Houston club (at 802 Houston Boulevard, Highway 3), which had
been closed for renovation for the past several months.
In addition the company will reopen its Rick’s Cabaret
Austin (8110 Springdale Road), which was closed pending its
sale. The buyer’s financing for the transaction fell through late
last year and the company has decided to keep the club and relaunch
it with a new concept in March 2010. The company has also worked
out new parking arrangements and a system to provide guest
transportation services from nearby venues.
“Relaunching these two locations will have the effect of making
two additional acquisitions at little cost to the company apart
from modest capital expenditures,” said Eric Langan,
President and CEO of Rick’s Cabaret. “We believe the new concept in
Austin will perform much better than its previous format and we are
pleased to have solved a parking problem in a way that our
customers will appreciate.”
XTC Cabaret South Houston has been completely renovated and
modernized inside and out, with new furnishings and a friendlier,
more open interior layout. Acquired in 2006, the club features
all-nude dancing and a BYOB format. For further information call
(713) 946-9718.
Forward-looking Statements: This document contains
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 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. 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 visit ricks.com.
About Rick’s Cabaret: Rick’s Cabaret International, Inc.
(NASDAQ: RICK) is home to upscale adult nightclubs serving
primarily businessmen and professionals that offer live
entertainment, dining and bar operations. Nightclubs in New York
City, Miami, Philadelphia, New Orleans, Charlotte, Dallas, Houston,
Minneapolis and other cities operate under the names "Rick's
Cabaret," "XTC," “Club Onyx” and “Tootsie’s Cabaret”. Sexual
contact is not permitted at these locations. Rick’s Cabaret also
operates a media division, ED Publications, and owns the adult
Internet membership Website couplestouch.com as well as a network
of online adult auction sites under the flagship URL
naughtybids.com. Rick’s Cabaret common stock is traded on NASDAQ
under the symbol RICK. For further information contact ir@ricks.com.
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