VCG Reports October 2005 Nightclub Revenues Up 28.81% Over October 2004
November 03 2005 - 8:59AM
Business Wire
VCG Holding Corp. (VCG) (AMEX:PTT), a leading owner, operator and
consolidator of adult nightclubs, today reported that its
consolidated nightclub revenues increased by 28.81% in October 2005
to $1,233,916, as compared to $963,565 in October 2004. Also, the
Company's consolidated same store sales increased 14.19% in October
as compared to the same period in 2004. Sales in October were
driven by increases in the number of customers for same store sales
and by addition of one store in October 2005 as compared to October
2004. Moreover, for the week ended October 30, 2005, the nightclubs
located in the Denver market realized record weekly revenues, up
11% over the average weekly revenue for this market. In particular,
the Diamond Cabaret nightclub and adjoining Tabu upscale dance
lounge realized an over 40% increase in weekly revenue. Troy
Lowrie, VCG's Chief Executive Officer, commented: "We are very
pleased with the October results and we are particularly excited
about the significant increase in our weekly numbers. Not only is
our nightclubs' October 2005 revenue up almost 29% over the same
period last year, but it is also up 5% over the September 2005
results. We fully expect that the trend of incremental increases in
weekly and monthly revenue in our nightclubs will continue. We have
implemented an integrated marketing strategy that involves not only
corporate and regional marketing, but is also driven by the
managers of the individual nightclubs. We believe the increasing
weekly and monthly revenue is a reflection of this integrated
marketing strategy." 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
amended Annual Report on Form 10-KSB/A for 2004, Quarterly Reports
on Form 10-QSB and Current Reports on Form 8-K, registration
statements, with any amendments thereto, 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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