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RCI Hospitality Holdings, Inc. (RICK) Leveraging Popular Chain of Gentlemen’s Clubs to Promote Strong Financial Growth
RCI Hospitality Holdings, through its subsidiaries, owns and operates over forty upscale gentlemen’s clubs and restaurants in large markets around the country – including New York City, Miami, Philadelphia, Dallas and Minneapolis. With an unrelenting focus on innovation, the company has created a truly upscale, friendly chain of clubs featuring some of the adult entertainment industry’s most popular and recognizable establishments. This market presence was reaffirmed earlier this month when Tootsie’s Cabaret Miami, the country’s largest adult entertainment complex and a subsidiary of RICK, was named “Overall Gentlemen’s Club of the Year” at the 23rd annual Gentlemen’s Club EXPO in New Orleans.
During its fiscal quarter ending June 30, the company successfully leveraged its established market position in order to achieve strong financial growth. RICK’s total revenues for the period were $35.8 million, which represented a 7.3 percent improvement over the previous year. Among this performance, the company achieved a 200 percent year-over-year increase in sales from its Bombshells restaurant/bar segment, underscoring the effectiveness of its recent acquisition-based growth strategy.
RICK’s management team is led by president and chief executive officer Eric Langan, who has headed the company for more than 15 years. By employing self-motivated managers, adhering to strict cost control, increasing cash flow and promoting maximized shareholder value, Langan has helped transform RICK into a leading consolidator in the expansive gentlemen’s club industry while maintaining a consistent spot on Forbes’s list of America’s 200 Best Small Companies. Moving forward, the company will benefit from his immense leadership experience as it continues to expand into the thriving restaurant industry.
With a full roster of past performers who have eventually joined the illusive ranks of Penthouse Pets and Playboy Playmates, it’s easy to see why RICK has continued to thrive in the adult entertainment market for more than three decades. Look for the company to rely on industry innovation and its experienced management team in order to ensure that its collection of major brands – including Rick’s Cabaret, Vivid Cabaret, Tootsie’s Cabaret, Club Onyx, Jaguars Club, XTC Cabaret and Bombshells – remain fixtures in their respective markets for the foreseeable future.
For more information, visit www.rcihospitality.com
