HOUSTON, May 27, 2020 /PRNewswire/ -- RCI Hospitality
Holdings, Inc. (NASDAQ: RICK) today announced 32 locations have
reopened with the easing of COVID-19 pandemic related
restrictions.
As of Friday, May 22, all 10
Bombshells restaurants, which are based in Texas, moved to 50% interior occupancy with no
outdoor patio restrictions from 25% with no patio restrictions.
Also, as of Friday, 22 of 38 club locations had reopened. In
Texas, 21 reopened to limited
capacity and schedules. In Arizona, the Phoenix location reopened to 50%
occupancy.
Eric Langan, President & CEO,
commented, "We're pleased to announce our subsidiaries' expanded
openings and the rehiring of more employees, while continuing to
follow all required practices for the health and well-being of
staff and guests.
"Bombshells continue to do very well. We're optimistic about the
performance of other locations based on early results. News reports
indicate more states may relax restrictions in June. If so, our
subsidiaries should be able to reopen more locations. As they do,
and as reopened locations are allowed to expand their business, we
look forward to returning to profitability."
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, but not limited to, the risks and
uncertainties associated with (i) operating and managing an adult
business, (ii) the business climates in cities where it operates,
(iii) the success or lack thereof in launching and building the
company's businesses, (iv) cyber security, (v) conditions relevant
to real estate transactions, (vi) our ability to maintain
compliance with the filing requirements of the SEC and the Nasdaq
Stock Market, (vii) the impact and uncertainty of the coronavirus
pandemic, and (viii) numerous other factors such as laws governing
the operation of adult entertainment businesses, competition and
dependence on key personnel. For more detailed discussion of such
factors and certain risks and uncertainties, see RCI's annual
report on Form 10-K for the year ended September 30, 2019 and its latest Form 10-Q as
well as its other filings with the U.S. Securities and Exchange
Commission. The company has no obligation to update or revise the
forward-looking statements to reflect the occurrence of future
events or circumstances.
Media & Investor Contacts
Gary Fishman and Steven Anreder at 212-532-3232 or
gary.fishman@anreder.com and steven.anreder@anreder.com
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SOURCE RCI Hospitality Holdings, Inc.