HOUSTON, Sept. 4, 2020 /PRNewswire/ -- RCI Hospitality
Holdings, Inc. (Nasdaq: RICK) today announced that business
continued to improve in August.
- August revenues for clubs and restaurants totaled $9.4 million, up 23% compared to $7.6 million in July.
- Revenues are running at an average of $2.2 million per week, up 22% from $1.8 million at the end of July.
- 34 locations open today, up from 31 on August 10th as government Covid-19
restrictions have relaxed in some markets.
- Most locations continue to reopen to strong sales and a
steadier flow of business versus prior to the pandemic.
- All 10 Bombshells are open as of September 1st – two were closed parts
of July and August.
- Two mid-sized clubs – Phoenix
and Pittsburgh – reopened last
week.
- Two larger clubs preparing to reopen.
RCI plans to discuss the above in its presentation at the LD
Micro 500 Virtual Investor Conference today at 2:00 PM ET / 11:00 AM
PT. To access the live webcast, slides, ask questions, and
replay, visit: https://www.webcaster4.com/Webcast/Page/2019/37194.
Visit the webcast link in advance to pre-register or download any
necessary software.
About RCI Hospitality Holdings, Inc. (Nasdaq: RICK)
With more than 40 units, RCI Hospitality Holdings, Inc., through
its subsidiaries, is the country's leading company in gentlemen's
clubs and sports bars/restaurants. Clubs in New York City, Chicago, Dallas/Ft.
Worth, Houston,
Miami, Minneapolis, St.
Louis, Charlotte, Pittsburgh, and other markets operate under
brand names such as Rick's Cabaret, XTC, Club Onyx, Vivid Cabaret,
Jaguars Club, Tootsie's Cabaret, and Scarlett's Cabaret. Sports
bars/restaurants operate under the brand name Bombshells Restaurant
& Bar. Please visit http://www.rcihospitality.com/.
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) the impact and uncertainty of the
coronavirus pandemic, and (vii) 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.