Rick’s Cabaret International, Inc. to Launch “Jaguar’s Gentleman’s Club/Austin” in Joint Venture Agreement
September 15 2010 - 9:00AM
Business Wire
Rick’s Cabaret International, Inc. (NASDAQ: RICK), the
nation’s leading group of upscale gentlemen’s clubs, has formed a
joint venture with JGC Austin, LLC to open a new
Jaguar’s Gold Club.
The nightclub is located at 8110 Springdale Road.
The new Jaguar’s Gold Club will launch with a grand opening
party on Thursday, September 16th, starting at 7 p.m. til closing
at 2 a.m.
“We think the new Jaguar’s Gold Club/Austin will be one of the
premier gentlemen’s clubs in Texas and the Southwest,” said Niko
Foster, CEO of Jaguar’s Gold Club, which operates 12
Jaguar’s clubs around the country. “We have completed a $300,000
renovation of the entire 22,000 square foot club, and it is
spectacular. We are bringing in girls from all over the southern
region for the grand opening and it should be quite a party.”
“We believe that the new Jaguar’s Gold Club format will be
successful in this marketplace and that the club will operate
effectively under the management of Niko Foster, who has built the
Jaguar’s brand into a strong and viable family of clubs,” said
Eric Langan, President and CEO of Rick’s Cabaret
International.
Rick’s Cabaret International has owned the club, formerly known
as Playmates Gentleman’s Club, since 2006. The club is located in
the northeastern part of Austin just east of the busy I-35
corridor.
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.
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 ricksinvestor.com.
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