HOUSTON, Dec. 7, 2022
/PRNewswire/ -- RCI Hospitality Holdings, Inc. (Nasdaq: RICK) today
announced closing on the acquisition of a four-story, 30,000
square-foot building in the heart of the downtown gaming district
in historic Central City, CO, one
of only three cities in the state where casino gambling is
legal.
The 130 Main Street location was acquired from the city for
$2.4 million in cash. RCI
subsidiaries plan to open a Rick's Cabaret Steakhouse & Casino,
offering fine dining, casino/sports betting, and entertainment.
RCI subsidiaries have applied for a gaming license to operate
175 slot machines, six blackjack tables, one craps table, and one
roulette table in Central City.
This would add to RCI's gaming revenue from clubs in Louisiana and Illinois.
For the 12 months ended June 2022,
more than $1 billion was wagered on
slot machines in Central City,
generating more than $80 million in
adjusted gross proceeds. In 1991, gambling was legalized in the
historic mining towns of Central
City, Cripple Creek, and
Black Hawk. In 2020, sports
betting was legalized, and in 2021, the state removed all betting
limits.
About RCI Hospitality Holdings, Inc. (Nasdaq: RICK) (Twitter:
@RCIHHinc)
With more than 60 locations, RCI Hospitality Holdings, Inc.,
through its subsidiaries, is the country's leading company in adult
nightclubs and sports bars/restaurants. See all our brands at
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,
including, but not limited to, the risks and uncertainties
associated with (i) operating and managing an adult entertainment
or restaurant 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 or restaurant
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.