HOUSTON, Oct. 27,
2022 /PRNewswire/ -- RCI Hospitality Holdings, Inc.
(Nasdaq: RICK) today announced closing on the acquisition of the
Heartbreakers Gentlemen's Club, and its associated real estate.
Eric Langan, RCI President
& CEO, said: "Established in 1986, Heartbreakers is the
number one adult entertainment venue in the Galveston, Texas, area. It is our first club
acquisition of Fiscal 2023 and the 53rd club in our portfolio."
Dean Reardon, RCI Management
Vice President of Operations, said: "Heartbreakers enjoys a
loyal following among its guests and entertainers. It has a
high-energy, exciting atmosphere; serves liquor and food; and fits
well with our other brands in Texas."
RCI subsidiaries acquired the 5-stage, 23,000 square-foot
Heartbreakers club and property at 3200 Gulf Freeway, Dickinson, TX, for $4.0
million in cash and $5.0
million in a 15-year, 6% real estate seller financing
note.
About RCI Hospitality Holdings, Inc. (Nasdaq: RICK)
www.rcihospitality.com
With more than 60 units, RCI Hospitality Holdings, Inc., through
its subsidiaries, is the country's leading company in adult
nightclubs and sports bars/restaurants. Clubs in New York City, Chicago, Dallas-Fort
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, Scarlett's Cabaret, Diamond
Cabaret, PT's Showclub, and Cheetah Gentlemen's Club. Sports
bars/restaurants operate under the brand name Bombshells Restaurant
& Bar.
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,
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, 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,
2021, 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.