HOUSTON, Nov. 9, 2021 /PRNewswire/ -- RCI Hospitality
Holdings, Inc. (Nasdaq: RICK) announced closing yesterday on the
acquisition of The Mansion Gentlemen's Club and Steakhouse
(https://www.mansiongentlemensclub.com/) of Newburgh, NY, and its real estate. RCI
previously announced a definitive agreement for the acquisition on
August 18. Financial terms remained
the same.
Eric Langan, President and CEO of
RCI Hospitality Holdings, Inc., said, "We're excited about this
acquisition. The Mansion expands our already successful presence in
New York State. The club was
completely renovated in 2018, has been in business for nine years,
and is well situated as the only gentlemen's club with a liquor
license in Orange County,
considered to be one of the fastest growing areas in New York."
About RCI Hospitality Holdings, Inc. (Nasdaq: RICK)
With more than 50 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, Denver, St.
Louis, Charlotte,
Pittsburgh, Raleigh, Louisville, 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 of the COVID-19
pandemic, (vii) the acquisition of the club and real estate that
are the subject of this press release, 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, 2020, 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.