VCG Holding Corp. Awarded Nightclub Chain of the Year by Leading Industry Publication
August 26 2005 - 4:48PM
Business Wire
VCG Holding Corp. (VCG) (AMEX:PTT), a leading owner, operator and
consolidator of adult nightclubs, announced today that its PT's
Showclub brand nightclub chain was awarded Nightclub Chain of the
Year by Exotic Dancer magazine, an industry publication focused on
the management of adult entertainment facilities, at the 13th
Annual Gentlemen's Club Owners Expo. This most prestigious award,
now in its 13th year, honors management teams that have built
sound, successful businesses out of a combination of hard work,
innovation, savvy marketing and other unique characteristics that
separate them from their competition. VCG was selected over a
number of other well-respected nightclub chains including Christies
Cabaret, DejaVu, Scores and Spearamint Rhino among others. VCG owns
or manages seven PT's nightclubs throughout the U.S. Troy Lowrie,
VCG's Chief Executive Officer, commented: "This is the highest
honor that our Company could receive from our industry. I believe
that this award is a reflection of the ability of IEC, our
subsidiary that manages our nightclubs, to provide customers with a
superior entertainment experience. It is also an affirmation that
our strategy to target the maximum number of clientele by
segmenting a geographic market with our three brands, PT's
Showclub, Penthouse and Diamond Cabaret, is highly successful."
About VCG Holding Corp. VCG Holding Corp. is an owner, operator and
consolidator of adult nightclubs throughout the United States. The
Company currently owns six adult nightclubs, one upscale dance
lounge and operates seven other adult nightclubs under management
agreements. The owned and managed clubs are located in
Indianapolis, St. Louis, Denver, Phoenix, and Louisville.
Forward-Looking Statements Statements contained in this press
release concerning future results, performance or expectations are
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. These statements
include statements regarding the intent, belief or current
expectations of the Company and members of its management team, as
well as assumptions on which such statements are based. All
forward-looking statements in this press release are based upon
information available to the Company on the date of this press
release. Forward-looking statements involve a number of risks and
uncertainties, and other factors, that could cause actual results,
performance or developments to differ materially from those
expressed or implied by those forward-looking statements including
the following: failure of facts to conform to necessary management
estimates and assumptions; the Company's ability to identify and
secure suitable locations for new nightclubs on acceptable terms,
open the anticipated number of new nightclubs on time and within
budget, achieve anticipated rates of same-store sales, hire and
train additional nightclub personnel and integrate new nightclubs
into its operations; the continued implementation of the Company's
business discipline over a large nightclub base; unexpected
increases in cost of sales or employee, pre-opening or other
expenses; the economic conditions in the new markets into which the
Company expands and possible uncertainties in the customer base in
these areas; fluctuations in quarterly operating results;
seasonality; changes in customer spending patterns; the impact of
any negative publicity or public attitudes; competitive pressures
from other national and regional nightclub chains; business
conditions, such as inflation or a recession, or other negative
effect on nightclub patterns, or some other negative effect on the
economy, in general, including (without limitation) growth in the
nightclub industry and the general economy; changes in monetary and
fiscal policies, laws and regulations; war, insurrection and/or
terrorist attacks on United States soil; and other risks identified
from time to time in the Company's SEC reports, including the
Annual Report on Form 10-KSB for 2004, Quarterly Reports on Form
10-QSB and Current Reports on Form 8-K, registration statements,
press releases and other communications. The Company undertakes no
obligation to update or revise forward-looking statements to
reflect changed assumptions, the occurrence of unanticipated events
or changes to future operating results over time.
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