VCG Holding Corp. Reports Growth of Its January 2006 Nightclub Revenues by 3.1% over January 2005
February 03 2006 - 2:19PM
Business Wire
VCG Holding Corp. (AMEX:PTT) ("VCG"), a leading owner, operator and
consolidator of adult nightclubs, today reported that its
consolidated nightclub revenues increased by 3.1% in January 2006
to $1,179,271, as compared to $1,143,530 in January 2005. The VCG's
consolidated same store sales comparisons were mixed for the
period, as compared to the same period in 2005. Sales in January
2006 for the club in St. Louis were neutral, the club in
Indianapolis and the Penthouse Denver were down 3.8% and 4.5%,
respectively, Penthouse Phoenix was down 41.3% and two clubs in
Denver, Diamond Cabaret and Centerfolds, were up 39.2% and 12.1%,
respectively, as compared to the same period in 2005. We believe
that a number of factors influence these sales numbers. The clubs
in St Louis, Penthouse Denver and Indianapolis are mature clubs
that have small changes in sales numbers. The Penthouse Phoenix
sales are down due to competing with grand opening numbers in late
2004 and early 2005. The increases in the Denver clubs are due to a
number of factors. The Diamond Cabaret has Tabu club that was not
open in 2005, the Denver Convention Center that reopened in 2005,
and the opening of a convention center hotel one block from the
club in late December 2005. Centerfolds continues to grow as it is
only two years old and the club continues to mature. 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/A for 2004, Quarterly Reports on Form
10-QSB and Current Reports on Form 8-K, registration statements,
press releases and other communications, and amendments thereto.
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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