Rick’s Cabaret International, Inc. August Nightclub Sales up 6.9 Percent to $6.5 Million
September 09 2010 - 9:00AM
Business Wire
Rick’s Cabaret International, Inc., (NASDAQ:RICK), the
nation’s leading chain of upscale gentlemen’s clubs, said August
revenues at its adult nightclubs were $6.5 million, a 6.9 percent
increase over August 2009.
The company said the gains were the result of contributions from
newly acquired clubs in Fort Worth and Austin, Texas, along with
increased sales at most of its existing clubs.
Sales at clubs open more than 12 months were off 6.5 percent for
the month, due largely to lower revenues at Rick’s Cabaret Las
Vegas, where the company has sharply reduced marketing
expenses.
The Rick’s Cabaret International group now includes 21 clubs in
seven states, with a new club near the DFW International Airport
that will open soon.
Eric Langan, President and CEO of Rick’s Cabaret
International, also announced today that the company will report
monthly sales for the month of September 2010 and thereafter will
report sales on a quarterly basis. “The relevancy of monthly
reports has diminished and we believe we can keep our shareholders
and others well-informed with quarterly reports,” he said.
About Rick’s Cabaret: Rick’s Cabaret International, Inc.
(NASDAQ: RICK) is home to 21 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.
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.
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