Rick’s Cabaret International, Inc. Completes Turnkey Purchase of New Gentlemen’s Club near Dallas-Ft. Worth Airport
January 04 2011 - 9:00AM
Business Wire
Rick’s Cabaret International, Inc. (NASDAQ: RICK), the
nation’s premier chain of upscale gentlemen’s clubs, has completed
the turnkey acquisition of a new gentlemen’s club adjacent to the
south end of busy Dallas-Ft. Worth International Airport
that is scheduled to open in mid January.
Eric Langan, President and CEO of the company, said Rick’s
Cabaret paid $4.5.million for the newly constructed building and
land on the Airport Freeway (Highway 183). A certificate of
occupancy has been issued for the building and the property has
been zoned by the city of Ft. Worth for use by a sexually oriented
business. A mixed beverage application is pending at the Texas
Alcoholic Beverage Commission.
“It is a beautiful club and we’ll be open in time for Super
Bowl week in Dallas in early February,” Mr. Langan said. Rick’s
Cabaret now has seven locations in the DFW market and 22 clubs
nationwide.
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
or visit ricksinvestor.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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