10959 Cutten Road
Houston, TX 77066
United States - Map
Web Site: http://www.rickscabaret.com
Index Membership: N/A
Full Time Employees: 1,100
Rick's Cabaret International, Inc. operates upscale gentlemen's clubs, nightclubs, bars and restaurants in the U.S. and has a licensing program in Latin America.
Founded in 1983, Rick's Cabaret pioneered in the creation of elegant gentlemen's clubs featuring beautiful topless dancers and high quality restaurant service. Rick's Cabaret went public in 1995 and is listed on The NASDAQ Global Market under the symbol RICK. The Company has built powerful brand name awareness for its upscale environment and enjoyable adult entertainment. Many performers from Rick's have become Penthouse Pets and Playboy Playmates. Anna Nicole Smith, met her oil billionaire husband while dancing at Rick's Cabaret in Houston.
CEO Eric Langan joined Rick's Cabaret in 1998 and has led the Company since 1999. He has steadily expanded operations, growing revenues and profit. Mr. Langan has positioned the Company at the top of the gentlemen's club sector by creating a pleasurable ambiance and a relaxed, conscientious approach to customer service patterned after the "concierge model" made famous by top Las Vegas casinos. The Company has been featured in profiles in The Wall Street Journal, MarketWatch, Corporate Board Member, Smart Money, Forbes, USA Today, The New York Daily News and other publications. Time Out New York magazine included the Rick's Cabaret-NYC Steakhouse in its TONY 100 list of fine Manhattan dining establishments and it is also included in the Zagat's New York Nightlife publication.
Mr. Langan believes the gentleman's club business is in a consolidation phase much like that of the casino industry in the 1990s. His vision is that Rick's Cabaret will become the most important player in the adult club industry with top venues in all major markets, and he is directing a strategy of buying profitable, high-end clubs in major markets that are accretive to earnings. Examples of this program are the $25 million purchase of Tootsie's Cabaret in Miami, for which the Company projects FY 2008 revenues of $23 million and EBITDA of $11.5 million; and a definitive agreement to buy Scores-Las Vegas in a transaction that it believes will add 29 cents per share to annual earnings.
The principal business lines of Rick’Äôs Cabaret are:
The principal brands are Rick's Cabaret (high-end clubs in New York City, Philadelphia,
Minneapolis, Houston, San Antonio, Ft. Worth, Austin);
Club Onyx (upscale nightclubs in Houston and Charlotte catering to African-American gentlemen.
XTC Cabaret (non-alcohol clubs in several Texas cities.
Tootsie's Cabaret (popular Miami adult nightclub.
Licensed clubs are scheduled open in Buenos Aries in 2008.
The Company also owns an upscale club in Dallas that will open in May 2008 and has signed letters of intent for to buy other clubs.
It licenses Rick's Cabaret in New Orleans.
CORRECTING and REPLACING Rick’s Cabaret International, Inc. Reports July Nightclub Sales of $6.73 Million
The release dated August 12, 2010 has been replaced to correct figures in the original version.
The corrected release reads:
RICK’S CABARET INTERNATIONAL, INC. REPORTS JULY NIGHTCLUB SALES OF $6.73 MILLION
Rick’s Cabaret International, Inc. (NASDAQ: RICK), the nation’s leading chain of upscale gentlemen’s clubs, had revenues of $6.73 million at its nightclubs in July, a 3.78 percent increase over July in 2009. The company is issuing a corrected version of its July sales report today after it was discovered that some same store sales numbers were inadvertently transposed in the original press release. The corrected figures show a decline in same club revenues of 7.95 percent, rather than the flat figure as originally reported.
Same club-same month revenues were $5.92 million compared with $6.43 million in 2009.
Eric Langan, President and CEO of Rick’s Cabaret, noted: “Sales were soft in the first three weeks of July but recovered in most clubs in the final 10 days of the month. We continue to see weakness in the Las Vegas market but are encouraged by reports of an uptick in reservations for major conventions scheduled for late August and September. Our new clubs in Fort Worth and Austin are beginning to contribute as anticipated.”
About Rick’s Cabaret: Rick’s Cabaret International, Inc. (NASDAQ: RICK) is home to upscale adult nightclubs serving primarily businessmen and professionals that offer live entertainment, dining and bar operations. Nightclubs in New York City, Miami, Philadelphia, New Orleans, Charlotte, Dallas, Houston, Minneapolis and other cities operate under the names "Rick's Cabaret," "XTC," “Club Onyx” and “Tootsie’s Cabaret”. Sexual contact is not permitted at these locations. Rick’s Cabaret also operates a media division, ED Publications, and owns the adult Internet membership Website couplestouch.com as well as a network of online adult auction sites under the flagship URL naughtybids.com. Rick’s Cabaret common stock is traded on NASDAQ under the symbol RICK. For further information contact [email protected].
Forward-looking Statements: This document contains 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 in this document, including the risks and uncertainties associated with operating and managing an adult business, the business climates in cities where it operates, the success or lack thereof in launching and building the company’s businesses, risks and uncertainties related to the operational and financial results of our Web sites, conditions relevant to real estate transactions, and numerous other factors such as laws governing the operation of adult entertainment businesses, competition and dependence on key personnel. Rick's has no obligation to update or revise the forward-looking statements to reflect the occurrence of future events or circumstances. For further information visit ricks.com.
Estimated Market Cap $74,946,483 as of Jul 19, 2010
Outstanding Shares 9,095,447 as of Aug 7, 2008
Number of Shareholders of Record 3,512 as of Dec 20, 2007
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