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I think $10.00 will happen before end of April. JMHO of course, but I think this is a $10 plus stock.
will it hit $10 ?
I'm still holding.
Hey Chris, Indeed it did. Nice flip today for a few dollars.
Rick's Cabaret International, Inc. Q2 Nightclub Sales Rise 17.9% to $25 Million; Same Store Sales Up 7.8%
Ricks Cabaret International, Inc. (MM) (NASDAQ:RICK)
Today : Tuesday 10 April 2012
Rick's Cabaret International, Inc. Q2 Nightclub Sales Rise 17.9% to $25 Million; Same Store Sales Up 7.8%
PR Newswire
HOUSTON, April 10, 2012
HOUSTON, April 10, 2012 /PRNewswire/ -- Rick's Cabaret International, Inc. (NASDAQ:RICK), the nation's leading chain of adult gentlemen's clubs, said its nightclub sales rose to $25 million in the quarter ended March 31, 2012, a 17.9 percent increase over the $21.2 million registered in the same period in 2011. Sales at clubs open more than one year rose 7.8 percent during the quarter, to $22.6 million.
(Logo: http://photos.prnewswire.com/prnh/20110418/MM85342LOGO)
"We are pleased with these sales figures, which showed all of our club brands improving during this quarter and our newly acquired clubs in Minneapolis, Indianapolis, Fort Worth and Dallas contributing significantly," said Eric Langan, President and CEO. "The quarterly sales increase is also notable because sales during Super Bowl week were $600,000 less this year than in 2011, when we benefited from having multiple clubs in the Dallas-Ft. Worth market, where the game was held last year, compared with just one club in Indianapolis, where the game was played this year."
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, Charlotte, Dallas, Houston, Minneapolis, Indianapolis 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 ir@ricks.com or visit www.ricksinvestor.com.
Forward-looking Statements: This document may contain 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 www.ricksinvestor.com.
SOURCE Rick's Cabaret International, Inc.
Looks like $RICK had good earnings news !
Chris
Hey Chris, I see it is back. I am selling here for a nice profit. Not gonna hold it too long. Will buy back on the dip.
wow $RICK is doing well today !
Chris
RICK holding steady. A little more liquidity and this would be a great day trader.
I'm really not happy with the direction $RICK is going.
I really thought it would head higher as the economy improved. Like $SBUX.
Chris
I have to say, the weekly chart (imo) is starting to look toppy.. Might retrace here a little but the long term outlook is good imo. They might have to start a same sex format if people keep drinking the big media kool-aid as well. jmo, hope not though. Might just rip and tear from here. Lots of broken charts upwards lately in the scene.
I think $RICK is now lower than when the reported earnings.
Chris
They will do alright regardless, The one addiction that is built into the DNA code get's ya everytime. GL with the stash there.
tx and cheers!
lol no I just bought some at 9.80. Hopefully as the economy recovers, $RICK will do well.
Chris
Whoa.. well, I hope you hung in there for a little and got out with profit. This stock has a history of bouncing up and down. I think that applies to some entertainment as well.
I bought some the other day for $9.80. It then proceeded to trade at $9.60, lol.
Chris
~ Thurs-Fri $RICK ~ Earnings posted, pending or coming soon! In Charts and Links Below!
~ $RICK ~ Earnings expected on Thursday *
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One or more of many earnings sites has alerted this security has or will be posting earnings on or around the day of this message.
http://stockcharts.com/h-sc/ui?s=RICK&p=D&b=3&g=0&id=p88783918276&a=237480049
http://stockcharts.com/h-sc/ui?s=RICK&p=W&b=3&g=0&id=p54550695994
~ Google Finance: http://www.google.com/finance?q=RICK
~ Google Fin Options: hhttp://www.google.com/finance/option_chain?q=RICK#
~ Yahoo! Finance ~ Stats: http://finance.yahoo.com/q/ks?s=RICK+Key+Statistics
~ Yahoo! Finance ~ Profile: http://finance.yahoo.com/q/pr?s=RICK
Finviz: http://finviz.com/quote.ashx?t=RICK
~ BusyStock: http://busystock.com/i.php?s=RICK&v=2
<<<<<< http://www.earningswhispers.com/stocks.asp?symbol=RICK >>>>>>
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*If the earnings date is in error please ignore error. I do my best.
Grrrrr I guess I should have been watching this in case it was a buying opp.
wow was not expecting a 12% earnings increase to be bad news.
Chris
Jeeez it almost hit $10 !
wow nice move today.
sadly I'm not currently in it.
Chris
More News! Rick's Cabaret International, Inc. Subsidiaries Complete Acquisition of Silver City Cabaret in Dallas
Ricks Cabaret International, Inc. (MM) (NASDAQ:RICK)
Today : Wednesday 18 January 2012
Wholly owned subsidiaries of Rick's Cabaret International, Inc. (NASDAQ: RICK), the nation's leading group of upscale gentlemen's clubs, have completed the purchase of the Silver City Cabaret, an adult nightclub on Stemmons Freeway near Love Field, and related real estate. The acquisition brings to nine the number of clubs operated by subsidiaries of Rick's Cabaret in the Dallas/Ft. Worth Metroplex.
(Logo: http://photos.prnewswire.com/prnh/20110418/MM85342LOGO)
The subsidiaries paid an aggregate total of $9.0 million for the club and real estate, with $1.0 million in cash and $8.0 million in the form of promissory notes payable over 11 years at an interest rate of 5.5 percent with a one-time adjustment provision.
"We have purchased both a fine gentlemen's club in a terrific location as well as the potential to create a great new entertainment complex at the site," said Eric Langan, President and CEO of Rick's Cabaret. He noted that the club occupies just 14,000 square feet of a 54,000 square foot building that the company plans to develop into a sports bar and after-hours nightclub.
Mr. Langan said he will announce a rebranding program for the Silver City Cabaret shortly, along with plans for a grand opening. "Meanwhile, as of today we are open with the famous Rick's Cabaret-style of unmatched hospitality and service that characterize our clubs around the nation," he added.
A related transaction involving property at 1449 Inwood Road in Dallas is expected to close next month.
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 ir@ricks.com.
Forward-looking Statements: Certain statements contained in this release regarding Rick's Cabaret future operating results or performance or business plans or prospects and any other statements not constituting historical fact are "forward-looking statements" subject to the safe harbor created by the Private Securities Litigation Reform Act of 1995. Where possible, the words "believe," "expect," "anticipate," "intent," "would," "will," "planned," "estimated," "potential," "goal," "outlook," and similar expressions, as they relate to the company or its management have been used to identify such forward-looking statements. All forward-looking statements reflect only current beliefs and assumptions with respect to future business plans, prospects, decisions and results, and are based on information currently available to the company. Accordingly, the statements are subject to significant risks, uncertainties and contingencies, which could cause the company's actual operating results, performance or business plans or prospects to differ materially from those expressed in, or implied by, these statements. Such risks, uncertainties and contingencies include, but are not limited to, risks and uncertainties associated with (i) operating and managing an adult business, (ii) the business climates in cities where the company operates, (iii) the success or lack thereof in launching and building the company's businesses, (iv) the operational and financial results of the company's adult nightclubs, (v) conditions relevant to real estate transactions, (vi) the loss of key personnel, and (vii) laws governing the operation of adult entertainment businesses. Additional factors that could cause the company's results to differ materially from those described in the forward-looking statements are described in forms filed with the SEC from time to time and available at www.ricksinvestor.com or on the SEC's internet website at www.sec.gov. Unless required by law, Rick's Cabaret does not undertake any obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise.
SOURCE Rick's Cabaret International, Inc.
NEWS OUT! ~ Rick's Cabaret International, Inc. Subsidiary Purchases Two Real Estate Parcels in Dallas-Ft. Worth Market
Ricks Cabaret International, Inc. (MM) (NASDAQ:RICK)
Today : Tuesday 17 January 2012 ~ Rick's Cabaret International, Inc. Subsidiary Purchases Two Real Estate Parcels in Dallas-Ft. Worth Market
PR Newswire
HOUSTON, Jan. 17, 2012 /PRNewswire/ -- Rick's Cabaret International, Inc. (NASDAQ: RICK), through its wholly owned subsidiary, RCI Holdings, Inc., has purchased two real estate parcels in Dallas and Ft. Worth.
(Logo: http://photos.prnewswire.com/prnh/20110418/MM85342LOGO)
The company paid a total of $5.5 million for the two parcels, paying $2 million in cash and the remaining $3.5 million financed by the seller through a 10 year note at an interest rate of eight percent.
The first property is at 12325 Calloway Cemetery Road in Fort Worth and includes the building where the company's Cabaret East adult nightclub is located. The second property is at 2151 Manana Drive in Dallas and is home to a separately owned gentlemen's club, Jaguar's Gold Club, which will become a rental tenant of Rick's Cabaret.
"This is a great investment for us in a vibrant market that has the end result of lowering our monthly cash outlay, since we no longer will be paying rent for Cabaret East and we will be collecting rent on the property currently occupied by Jaguars," said Eric Langan, President and CEO of Rick's Cabaret. "The acquisitions expand our holdings in a great region and will give us a very nice return on investment from day one."
Subsidiaries of Rick's Cabaret currently own and operate eight properties in the Dallas/Ft. Worth Metroplex. The company has 23 adult nightclubs nationwide.
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 ir@ricks.com.
Forward-looking Statements: Certain statements contained in this release regarding Rick's Cabaret future operating results or performance or business plans or prospects and any other statements not constituting historical fact are "forward-looking statements" subject to the safe harbor created by the Private Securities Litigation Reform Act of 1995. Where possible, the words "believe," "expect," "anticipate," "intent," "would," "will," "planned," "estimated," "potential," "goal," "outlook," and similar expressions, as they relate to the company or its management have been used to identify such forward-looking statements. All forward-looking statements reflect only current beliefs and assumptions with respect to future business plans, prospects, decisions and results, and are based on information currently available to the company. Accordingly, the statements are subject to significant risks, uncertainties and contingencies, which could cause the company's actual operating results, performance or business plans or prospects to differ materially from those expressed in, or implied by, these statements. Such risks, uncertainties and contingencies include, but are not limited to, risks and uncertainties associated with (i) operating and managing an adult business, (ii) the business climates in cities where the company operates, (iii) the success or lack thereof in launching and building the company's businesses, (iv) the operational and financial results of the company's adult nightclubs, (v) conditions relevant to real estate transactions, (vi) the loss of key personnel, and (vii) laws governing the operation of adult entertainment businesses. Additional factors that could cause the company's results to differ materially from those described in the forward-looking statements are described in forms filed with the SEC from time to time and available at www.ricksinvestor.com or on the SEC's internet website at www.sec.gov. Unless required by law, Rick's Cabaret does not undertake any obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise.
SOURCE Rick's Cabaret International, Inc.
RICK...holding near $8.50!! Gotta love it!!
RICK NEWS! Former NBA Great Spud Webb Named Coach of Rick's Cabaret/New York Stripper Basketball Team
Ricks Cabaret International, Inc. (MM) (NASDAQ:RICK)
Today : Wednesday 30 November 2011
Former NBA Great Spud Webb Named Coach of Rick's Cabaret/New York Stripper Basketball Team
PR Newswire
NEW YORK, Nov. 29, 2011
NEW YORK, Nov. 29, 2011 /PRNewswire/ -- Former Atlanta Hawks National Basketball Association sensation Anthony "Spud" Webb has accepted his latest challenge – coach of a newly formed team of shapely women from Rick's Cabaret/New York City. Webb was introduced to the media at a news conference today at the gentlemen's club Playboy.com called the "No. 1 strip club in New York."
(Logo: http://photos.prnewswire.com/prnh/20110418/MM85342LOGO)
The sexy women's team was formed to give fans an entertaining option during the delay in getting the NBA season underway. The "Rick's Basketball Association" is comprised of squads from Rick's Cabaret International, Inc. (NASDAQ:RICK), the publicly traded group of 23 upscale gentlemen's clubs that are popular with pro athletes and their fans.
The 5'7" Webb overcame multiple challenges to earn a spot with the Hawks and then the Sacramento Kings in the 1980s and 90s, becoming one of the most admired players in the league, famed for his amazing four-foot leaps and dunking ability. Despite his diminutive size, he averaged over 10 points and five assists a game, played in several playoff series and won the slam-dunk championship at the 1986 All-Star game, beating out Dominique Wilkins and Michael Jordan. After retirement as a player, became an executive of the Texas Legends, a NBA Development League team and is a popular motivational speaker.
Rick's Cabaret introduced Webb to the media at a news conference at the New York City club today, at which he put his team through a practice session in front of the stage where they normally dance. The New York team is expected to play games shortly against the Minneapolis Downtown Cabaret and Tootsie's Cabaret in Miami.
"These ladies are fabulous and have obvious talents and skills. I can't think of a better way to entertain long-suffering NBA fans," Webb said.
"He's a hero to people of all sizes and he shows that anyone can accomplish anything," said Gianna, a point guard on the New York team. "Of course we are happy the NBA is coming back in December--they are some of our best customers. We'll play 'til the NBA season starts because our fans and customers want it."
About Rick's Cabaret: Rick's Cabaret International, Inc. (NASDAQ: RICK) is home to 23 upscale adult nightclubs serving primarily businessmen and professionals that offer live entertainment, dining and bar operations. Nightclubs in New York City, Miami, Philadelphia, 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 ir@ricks.com or visit www.ricksinvestor.com.
SOURCE Rick's Cabaret International, Inc.
Former NBA Superstar Player to be Named Coach of the Rick's Cabaret New York Stripper Basketball Team
Ricks Cabaret International, Inc. (MM) (NASDAQ:RICK)
Intraday Stock Chart
Today : Wednesday 23 November 2011
Former NBA Superstar Player to be Named Coach of the Rick's Cabaret New York Stripper Basketball Team Rick's Cabaret/New York Will Announce Its Stripper Basketball Team Coach Tuesday, November 29th
PR Newswire
NEW YORK, Nov. 23, 2011
NEW YORK, Nov. 23, 2011 /PRNewswire/ -- A former National Basketball Association superstar has agreed to become the first coach of the newly formed Rick's Basketball Association, comprised of teams made up of dancers at the Rick's Cabaret group of gentlemen's clubs. The new coach will be introduced at a press conference at noon on Tuesday, November 29th at Rick's Cabaret/New York City.
(Logo: http://photos.prnewswire.com/prnh/20110418/MM85342LOGO)
The topless dancers from the Rick's Cabaret group of gentlemen's clubs announced recently they had formed their own basketball league to try to take up some of the slack as the National Basketball Association negotiations bogged down. Rick's Cabaret International, Inc. (NASDAQ: RICK), is the publicly traded group of 23 upscale gentlemen's clubs that are popular with pro athletes and their fans.
Dancers from Rick's Cabaret/New York City have already been outfitted with sexy new uniforms, but until this week they were without a coach. Their new mentor is expected to whip them into shape to compete against teams from the company's other clubs. The first game is expected to be against Rick's Cabaret/Minneapolis, followed by a match with the girls from Tootsie's Cabaret in Miami and other Rick's Cabaret locations around the country. The league schedule will be announced in January.
"People will be amazed when we tell them who our coach is, because he was one of the great players in the NBA," said Gianna, a player for the New York team. "The girls are really excited. We're practically busting out of our tops! We plan to give him a really warm welcome on Tuesday."
"I hear he's going to have us do a workout on Tuesday in front of the press," said Sky, the point guard for the team. "I can't wait to show off some of my moves!"
About Rick's Cabaret: Rick's Cabaret International, Inc. (NASDAQ: RICK) is home to 23 upscale adult nightclubs serving primarily businessmen and professionals that offer live entertainment, dining and bar operations. Nightclubs in New York City, Miami, Philadelphia, 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 ir@ricks.com or visit www.ricksinvestor.com.
SOURCE Rick's Cabaret International, Inc.
RICK's NEWS OUT!! Rick's Cabaret International, Inc. Signs Agreement to Purchase Adult Nightclub and Real Estate in Dallas
Ricks Cabaret International, Inc. (MM) (NASDAQ:RICK)
Today : Tuesday 22 November 2011
Rick's Cabaret International, Inc. (NASDAQ: RICK), the nation's leading group of upscale gentlemen's clubs, has signed definitive documents to acquire the Silver City Cabaret, a Dallas adult nightclub on Stemmons Freeway and the underlying real estate that includes a building the company plans to convert into an entertainment complex. The transaction, which also includes the purchase of a separate piece of property in Dallas that is licensed for an adult business, is intended to close on or before January 2, 2012.
(Logo: http://photos.prnewswire.com/prnh/20110418/MM85342LOGO)
Said Eric Langan, President and CEO of Rick's Cabaret: "We are very enthusiastic about the potential to develop the Silver City location at 7501 North Stemmons Freeway near Love Field, which will become a great entertainment and retail destination. Only 14,000 square feet of the 54,000 square foot building is currently in use and we will develop the rest to include a Tootsie's style Knockers Sports Bar and an after hours nightclub. The Silver City Cabaret, after we have rebranded it, will become an important part of the terrific complex of clubs we have assembled in the Dallas-Ft. Worth Metroplex."
The purchase will bring to nine the number of clubs the company owns in the Dallas-Ft. Worth Metroplex and to 24 the number of clubs nationwide.
Subsidiaries of Rick's Cabaret will pay current owners a total of $12 million for the Silver City property and a separate property just off the busy I-35 corridor that includes a sexually oriented business license, which the company intends to develop in the future. The aggregate payment will be in the form of $1.5 million in cash plus promissory notes in the total aggregate amount of $10.5 million that are payable over 11 years at an adjustable interest rate of 5.5 percent.
Closing on the transaction is subject to due diligence and transfer of appropriate licenses and permits, and other terms and conditions customary for an acquisition of this type. Further details of the proposed transaction are available in the Form 8-K filed with the SEC, which is available at www.ricksinvestor.com.
About Rick's Cabaret: Rick's Cabaret International, Inc. (NASDAQ: RICK) is home to 22 upscale adult nightclubs serving primarily businessmen and professionals that offer live entertainment, dining and bar operations. Nightclubs in New York City, Miami, Philadelphia, 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 ir@ricks.com or visit www.ricksinvestor.com.
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. Additional factors that could cause the Company's results to differ materially from those described in the forward-looking statements are described in forms filed with the SEC from time to time and available at www.ricksinvestor.com or on the SEC's internet website at www.sec.gov. 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 www.ricksinvestor.com.
SOURCE Rick's Cabaret International, Inc.
Ronnie the limo driver from Stern news ~ Miami NASCAR Weekend at Tootsie's Cabaret Features a Guest Appearance November 18th by Howard Stern Show Character 'Ronnie th...
Ricks Cabaret International, Inc. (MM) (NASDAQ:RICK)
Today : Tuesday 15 November 2011
Ronnie "The Limo Driver" Mund, the Howard Stern character who can't get enough of strip clubs, will be a special guest host November 18th at Tootsie's Cabaret in Miami. Tootsie's is a 74,000 square foot, two story venue in Miami Gardens that is part of the Rick's Cabaret International, Inc. (NASDAQ:RICK) group of clubs.
(Logo: http://photos.prnewswire.com/prnh/20111115/DA06490LOGO)
Ronnie will be in Florida for the NASCAR Ford Championship Weekend races at Homestead-Miami Speedway, including the 2011 Ford 200 and 2011 Ford 300 and 2011 Ford 400 events. Guests with tickets to the events and those with pit crew passes from Homestead-Miami Speedway events will be admitted free. Ronnie will arrive at Tootsie's about 10 p.m. and will give away a pair of pre-race passes and race tickets to the Sunday event.
The popular Stern character will also pose for photos, sign autographs and, as always, fraternize as many of the 300 Tootsie's entertainers as he can. The club features all nude entertainment in three distinct venues – the main floor Tootsie's Cabaret; the upscale Next Level on the second floor; and the popular Knockers Sports Bar, with more than a dozen big-screen television sets showing every available sporting event.
"I always have a great time at Tootsies, and a NASCAR weekend should make it even more amazing," said Ronnie, who is also looking forward to reuniting with his friend DJ Platypus, one of the Tootsie's popular DJs.
For more information check out facebook.com/tootsiescabaret or twitter.com/tootsiescabaret or get text messages by texting "Join Tootsies" to 78747. Located at 150 NW 183rd St., Miami Gardens, FL 33169, on the corner of Rt. 441 and Miami Gardens Drive'
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 ir@ricks.com.
SOURCE Rick's Cabaret International, Inc.
Rick's Cabaret Entertainers Form a League of Their Own During NBA Lockout
Ricks Cabaret International, Inc. (MM) (NASDAQ:RICK)
Intraday Stock Chart
Today : Thursday 27 October 2011
A group of topless dancers from Rick's Cabaret group of gentlemen's clubs have formed their own basketball league to try to take up some of the slack as the National Basketball Association negotiations continue. Rick's Cabaret International, Inc. (NASDAQ: RICK), is the publicly traded group of 23 upscale gentlemen's clubs that are popular with pro athletes and their fans.
(Logo: http://photos.prnewswire.com/prnh/20110418/MM85342LOGO)
Dancers from Rick's Cabaret/New York City will introduce the new Rick's Basketball Association (the RBA) and their sexy new uniforms at a press conference on Nov. 1st (at 12 noon, EDT, Rick's Cabaret, 50 West 33rd St., New York City). The league's teams are being assembled at the company's Tootsie's Cabaret in Miami, Club Onyx in Charlotte, Houston, Dallas and Philadelphia, and Rick's Cabarets and XTC Cabarets in New York, Houston, Dallas, Minneapolis and Indianapolis.
"We have all been disappointed that the NBA season hasn't gotten underway yet, and a number of players who stop by the club have told us that they'd pay to see us play in our stripper heels, so we decided to form our own league," said Gianna, a player for a team made up of dancers from the New York City club. "We plan to play as long as the NBA is locked down. We'll announce all the details and introduce the Rick's Cabaret/New York City team at our press conference on Tuesday and I guarantee you it will be hot."
"In designing our team's outfit we decided less is more," said Sky, another member of the New York team.
About Rick's Cabaret: Rick's Cabaret International, Inc. (NASDAQ: RICK) is home to 23 upscale adult nightclubs serving primarily businessmen and professionals that offer live entertainment, dining and bar operations. Nightclubs in New York City, Miami, Philadelphia, 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 ir@ricks.com or visit www.ricksinvestor.com.
SOURCE Rick's Cabaret International, Inc.
wow ! over $8 now. I hate to admit it but I got shaken out when it dropped below 7.
Chris
The Ta Ta's are back baby!! Some bounce huh!!!
wow nice 2-day rebound !
Rick's Cabaret Celebrates Six Years in New York City With a Four-Day Party Starting Tuesday, October 18th
Ricks Cabaret International, Inc. (MM) (NASDAQ:RICK)
Today : Tuesday 11 October 2011
Rick's Cabaret New York City plans a gala four-day party starting Tuesday, October 18th to celebrate the sixth anniversary of its midtown Manhattan gentlemen's club. The three-story cabaret is the flagship location of publicly traded Rick's Cabaret International, Inc. (NASDAQ: RICK), the nation's leading group of upscale gentlemen's clubs with 22 locations nationwide.
(Logo: http://photos.prnewswire.com/prnh/20110418/MM85342LOGO)
Rick's Cabaret NYC, which opened in the fall of 2005, is located at 50 West 33rd Street between Fifth Avenue and Broadway, across the street from the Empire State Building and one-block from Madison Square Garden and Penn Station. Admission to the parties is free with an invitation, which can be obtained at the club or by emailing nyc@ricks.com.
With more than 100 "Girls of Rick's" entertainers on hand, the anniversary parties will spread over all three floors of the stylish club and its roof-top smoking lounge, with happy hour drink specials up to 10 p.m. Tuesday through Friday, with prizes awarded nightly to guests every hour from 6 p.m. to 10 p.m.
On Wednesday evening October 19th Howard Stern Show characters "Ronnie the Limo Driver" and "Sal the Stockbroker" will be special guest hosts of the party.
Rick's Cabaret, which has been honored as No. 1 gentlemen's club in the Northeast at the annual Gentlemen's Club Owners EXPO and has been selected consistently as the top strip club in New York City by a variety of magazines and websites.
"Our anniversary parties are always a great event because they give us a chance to do something special for our loyal customers and welcome new guests who haven't yet experienced an evening with the most beautiful girls in New York City and the most welcoming hospitality of any club in the region," said Ken Sistrunk, general manager of Rick's Cabaret NYC. "We have continued to grow steadily, month after month, for all of our six years, so our anniversary events are always special for us."
About Rick's Cabaret: Rick's Cabaret International, Inc. (NASDAQ: RICK) subsidiaries operate 22 adult nightclubs nationwide serving primarily businessmen and professionals. The clubs offer live entertainment, dining and bar operations. Nightclubs in New York City, Miami, Philadelphia, Charlotte, Dallas, Houston, Minneapolis and other cities operate under the names including "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 ir@ricks.com or visit www.ricksinvestor.com.
SOURCE Rick's Cabaret International, Inc.
Not me -- I'm waiting for a wash out.
Chris
Yeah...this is gonna get bloody before it gets better. I am bidding down here for more shares actually.
Looks like a recession is in the cards. Nudie bar attendance will suffer.
Chris
And Rick Perry says on national TV how business friendly Texas is, lol.
I have a funny feeling this is gonna go lower. I still only have 500 shares.
Chris
Rick's Cabaret International, Inc. Addresses Recent Texas "Pole Tax" Ruling
Ricks Cabaret International, Inc. (MM) (NASDAQ:RICK)
Today : Monday 29 August 2011
Rick's Cabaret International, Inc. (NASDAQ:RICK), the nation's leading group of upscale gentlemen's clubs, said today it is considering an appeal of a Texas Supreme Court decision upholding a state law requiring strip clubs to pay a $5 fee for every club visitor. On Friday August 26th the Texas Supreme Court reversed the judgment of a Texas Court of Appeals, ruling that the SOB Fee does not violate the First Amendment to the U.S. Constitution, and remanded the case to the District Court to determine whether the fee violates the Texas Constitution.
(Logo: http://photos.prnewswire.com/prnh/20110418/MM85342LOGO)
In a Form 8-K filing with the Securities and Exchange Commission signed by Rick's Cabaret President and CEO Eric Langan, the company said: "We disagree with the decision of the Texas Supreme Court. Both we and the TEA [Texas Entertainment Association, a trade group] are currently considering whether to appeal the Texas Supreme Court's decision to the U.S. Supreme Court (regarding the constitutionality of the fee under the First Amendment of the U.S. Constitution). Additionally, our claims regarding the Texas Constitution have not yet been addressed by the courts. We do not plan to make any payments of these taxes while the case is pending in the courts. However, we will continue to accrue and expense the potential tax liability on our financial statements, so any ultimate negative ruling will not have any effect on our income statement and will only affect our balance sheet. If the decision is ultimately found in our favor, as we believe it will be, then we will have a one-time gain of the entire amount previously expensed. Further, we have filed a separate lawsuit in which we raise additional challenges to the statute imposing the fee or tax. The courts have not yet addressed these additional claims."
The company further stated in the Form 8-K: "We have paid the tax for the first five calendar quarters under protest and expensed the tax in our consolidated financial statements (as filed with the SEC), except for two locations in Dallas where the taxes have not been paid, but we are accruing and expensing the liability. For the subsequent quarters, as a result of the Third Court's decision, we accrued the fee, but did not pay the State. As of June 30, 2011, the Company had approximately $6.1 million in accrued liabilities for this tax. We have paid more than $2 million to the State of Texas since the inception of the tax."
A copy of the company's Form 8-K is available at its investor relations website, www.ricksinvestor.com.
About Rick's Cabaret: Rick's Cabaret International, Inc. (NASDAQ: RICK) is home to 22 upscale adult nightclubs serving primarily businessmen and professionals that offer live entertainment, dining and bar operations. Nightclubs in New York City, Miami, Philadelphia, 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 ir@ricks.com or visit www.ricksinvestor.com.
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 websites, 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. Additional factors that could cause the Company's results to differ materially from those described in the forward-looking statements are described in forms filed with the SEC from time to time and available at www.ricksinvestor.com or on the SEC's internet website at www.sec.gov. 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 www.ricksinvestor.com.
SOURCE Rick's Cabaret International, Inc.
EEKKKSS!!! That is quite a dip....I am holding on to see the low 8's again.
Yikes ! Quite a dive !
Chris
Rick's Cabaret International, Inc. Reports Third Quarter Revenue Increase to $20.8 Million and Adjusted EBITDA of $6.0 Million
Companies:
Rick's Cabaret International Inc.
.
Related Quotes
Symbol
Price
Change
RICK
7.29
+0.19
Press Release Source: Rick's Cabaret International, Inc. On Tuesday August 9, 2011, 4:05 pm EDT
HOUSTON, Aug. 9, 2011 /PRNewswire/ -- Rick's Cabaret International, Inc. (NASDAQ:RICK - News), the leading group of upscale gentlemen's clubs, had revenues of $20.8 million in its third quarter ended June 30, a 15.4 percent increase over the $18.0 million in the same period last year. The company reported adjusted EBITDA* of $6.0 million a 52.7 percent increase over $3.9 million in the same period last year.
(Logo: http://photos.prnewswire.com/prnh/20110418/MM85342LOGO)
The company reported net income from continuing operations for the quarter of $2.5 million, compared with $1.1 million in 2010, with earnings per diluted share from continuing operations of 25 cents versus 11 cents last year. After accounting for a loss from discontinued operations including the now closed club in Las Vegas, net income was $888,000 versus $857,000. Net income per diluted share for both periods was nine cents.
"With this quarter we have now put the pain of the Las Vegas situation behind us and we are well positioned to move forward on an apples-to-apples basis," said Eric Langan, President and CEO of Rick's Cabaret. "Apart from the Las Vegas loss, we had a strong third quarter, with increases in cash flows, EBITDA and income from continuing operations. Our larger clubs across the country are doing well and we will have a positive outlook on the remainder of the year as long as the general economy maintains its present levels."
Mr. Langan will discuss the third quarter results in detail at a conference call and webcast today at 4:30 pm EDT that can be accessed at http://www.investorcalendar.com/IC/CEPage.asp?ID=165509 or though the Rick's Cabaret investor website, www.ricksinvestor.com. The toll free participant dial-in number is 877-407-8033 (International 201-689-8033). The toll free replay number is 877-660-6853 (international 201-612-7415). Replay pass codes required for playback are: Account number 286 and Conference ID 376967.
The increase in total revenues was primarily attributable to clubs acquired during the past year, additional traffic generated during the NBA Championship series in Dallas and Miami, and gains at the Rick's locations in San Antonio, North Austin and Minneapolis.
Total revenues for same-location-same-period of club operations open more than one year increased by 9.0 percent to $19.2 million in the quarter from $17.6 million for the same period last year. Comparable club operating income was $5.7 million compared with $4.7 million last year.
Net cash generated from continuing operations was $13.7 million, compared with $12.0 million last year. Interest expense dropped to $1.0 million from $1.2 million.
*Adjusted EBITDA is a financial statement measure that was not derived in accordance with GAAP. We use adjusted EBITDA (earnings from continuing operations before interest expense, income taxes, depreciation, amortization and impairment charges) as a non-GAAP performance measure. In calculating adjusted EBITDA, we exclude our largest recurring non-cash charge, depreciation, amortization and impairment charges. Adjusted EBITDA provides a core operational performance measurement that compares results without the need to adjust for Federal, state and local taxes which have considerable variation between domestic jurisdictions. Also, we exclude interest cost in our calculation of adjusted EBITDA. The results are, therefore, without consideration of financing alternatives of capital employed. We use adjusted EBITDA as one guideline to assess our unleveraged performance return on our investments. Adjusted EBITDA is also the target benchmark for our acquisitions of nightclubs.
RICK'S CABARET INTERNATIONAL, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
ASSETS
(in thousands, except per share data)
June 30,
2011
September 30,
2010
Assets
(UNAUDITED)
Current assets:
Cash and cash equivalents
$ 12,356
$ 18,614
Accounts receivable:
Trade, net
840
662
Other, net
3,133
207
Marketable securities
500
-
Inventories
1,169
1,093
Deferred tax asset
2,285
2,037
Prepaid expenses and other current assets
1,292
333
Assets of discontinued operations
129
4,629
Total current assets
21,704
27,575
Property and equipment, net
62,507
56,900
Other assets:
Goodwill and indefinite lived intangibles, net
63,706
61,835
Definite lived intangibles, net
904
1,139
Other
2,987
922
Total other assets
67,597
63,896
Total assets
$ 151,808
$ 148,371
LIABILITIES AND STOCKHOLDERS' EQUITY
(in thousands, except per share data)
June 30,
2011
September 30,
2010
Liabilities and Stockholders' Equity
(UNAUDITED)
Current liabilities:
Accounts payable
$ 782
$ 699
Accrued liabilities
3,187
4,313
Texas patron tax liability
6,136
3,955
Current portion of derivative liabilities
1,143
1,276
Current portion of long-term debt
6,238
5,461
Liabilities of discontinued operations
127
2,995
Total current liabilities
17,613
18,699
Deferred tax liability
21,275
15,288
Other long-term liabilities
769
719
Long-term debt
30,699
34,803
Derivative liabilities at fair value, less current portion
238
1,243
Total liabilities
70,594
70,752
Commitments and contingencies
Temporary equity - Common stock, subject to put rights 84 and 198 shares, respectively
1,932
4,366
PERMANENT STOCKHOLDERS' EQUITY:
Preferred stock, $.10 par, 1,000 shares authorized; none issued and outstanding
-
-
Common stock, $.01 par, 20,000 shares authorized; 9,723 and 9,766 shares issued and outstanding, respectively
97
98
Additional paid-in capital
62,446
62,326
Accumulated other comprehensive loss
(5)
-
Retained earnings
13,401
7,515
Total Rick's permanent stockholders' equity
75,939
69,939
Noncontrolling interests
3,343
3,314
Total permanent stockholders' equity
79,282
73,253
Total liabilities and stockholders' equity
$ 151,808
$ 148,371
RICK'S CABARET INTERNATIONAL, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
(in thousands, except per share data)
FOR THE THREE MONTHS
ENDED JUNE 30,
FOR THE NINE MONTHS
ENDED JUNE 30,
2011
2010
2011
2010
(UNAUDITED)
(UNAUDITED)
Revenues:
Sales of alcoholic beverages
$ 8,149
$ 7,029
$ 24,312
$ 21,371
Sales of food and merchandise
1,891
1,578
5,469
4,648
Service revenues
9,553
8,331
28,637
25,507
Internet revenues
113
144
359
433
Media revenues
176
203
585
771
Other
911
737
2,678
2,202
Total revenues
20,793
18,022
62,040
54,932
Operating expenses:
Cost of goods sold
2,710
2,254
7,793
6,887
Salaries and wages
4,683
4,109
13,503
12,074
Stock compensation
-
44
-
132
Other general and administrative:
Taxes and permits
3,101
2,750
9,333
8,426
Charge card fees
405
315
1,047
907
Rent
756
668
2,305
1,957
Legal and professional
635
854
1,547
2,207
Advertising and marketing
838
665
2,651
2,465
Insurance
300
244
851
687
Utilities
394
349
1,143
1,077
Depreciation and amortization
980
837
2,855
2,363
Other
1,626
1,419
4,646
4,341
Total operating expenses
16,428
14,508
47,674
43,523
Operating income
4,365
3,514
14,366
11,409
Other income (expense):
Interest income and other
2
5
57
11
Interest expense
(1,033)
(1,231)
(3,170)
(3,227)
Gain on settlement of debt
903
-
903
-
Gain (loss) on change in fair value of derivative instruments
(216)
(407)
266
22
Income from continuing operations before income taxes
4,021
1,881
12,422
8,215
Income taxes
1,500
762
4,231
2,869
Income from continuing operations
2,521
1,119
8,191
5,346
Loss from discontinued operations, net of income taxes
(1,580)
(202)
(2,146)
(555)
Net income
941
917
6,045
4,791
Less: net income attributable to noncontrolling interests
(53)
(60)
(159)
(207)
Net income attributable to Rick's Cabaret International, Inc.
$ 888
$ 857
$ 5,886
$ 4,584
Basic earnings (loss) per share attributable to Rick's shareholders:
Income from continuing operations
$ 0.25
$ 0.11
$ 0.81
$ 0.54
Loss from discontinued operations
$ (0.16)
$ (0.02)
$ (0.22)
$ (0.06)
Net income
$ 0.09
$ 0.09
$ 0.59
$ 0.48
Diluted earnings (loss) per share attributable to Rick's shareholders:
Income from continuing operations
$ 0.25
$ 0.11
$ 0.80
$ 0.53
Loss from discontinued operations
$ (0.16)
$ (0.02)
$ (0.21)
$ (0.06)
Net income
$ 0.09
$ 0.09
$ 0.59
$ 0.48
Weighted average number of common shares outstanding:
Basic
9,924
9,905
9,968
9,546
Diluted
9,941
9,958
9,983
9,876
About Rick's Cabaret: Rick's Cabaret International, Inc. (NASDAQ:RICK - News) is home to 22 upscale adult nightclubs serving primarily businessmen and professionals that offer live entertainment, dining and bar operations. Nightclubs in New York City, Miami, Philadelphia, 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 ir@ricks.com or visit www.ricksinvestor.com.
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. Additional factors that could cause the Company's results to differ materially from those described in the forward-looking statements are described in forms filed with the SEC from time to time and available at www.ricksinvestor.com or on the SEC's internet website at www.sec.gov. 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 www.ricksinvestor.com.
RICK NEWS OUT!! Rick's Cabaret Will Hold Third Quarter Conference Call Tuesday August 9th at 4:30 PM EDT
Ricks Cabaret International, Inc. (MM) (NASDAQ:RICK)
Today : Thursday 4 August 2011
Rick's Cabaret International, Inc. (NASDAQ: RICK), the nation's premier group of gentlemen's clubs, will release its third quarter 2011 results on Tuesday, August 9th, followed by a conference call/webcast at 4:30 pm (ET) hosted by CEO Eric Langan.
(Logo: http://photos.prnewswire.com/prnh/20110418/MM85342LOGO)
The conference call will allow securities analysts and shareholders to hear management discuss results for the company's third quarter ended June 30, 2011. A webcast of the call can be accessed at http://www.investorcalendar.com/IC/CEPage.asp?ID=165509 or though the Rick's Cabaret investor website, www.ricksinvestor.com. The toll free participant dial-in number is 877-407-8033 (International 201-689-8033 ). The toll free replay number is 877-660-6853 (international 201-612-7415 ). Replay pass codes required for playback are: Account number 286 and Conference ID 376967.
About Rick's Cabaret: Rick's Cabaret International, Inc. (NASDAQ: RICK) is home to 22 upscale adult nightclubs serving primarily businessmen and professionals that offer live entertainment, dining and bar operations. Nightclubs in New York City, Miami, Philadelphia, 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 ir@ricks.com or visit www.ricksinvestor.com.
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. Additional factors that could cause the Company's results to differ materially from those described in the forward-looking statements are described in forms filed with the SEC from time to time and available at www.ricksinvestor.com or on the SEC's internet website at www.sec.gov. 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 www.ricksinvestor.com.
SOURCE Rick's Cabaret International, Inc.
ANOTHER ACQUISITION! Rick's Cabaret International, Inc. Subsidiary Completes Acquisition of Schiek's Palace Royale Gentlemen's Club in Minneapolis
Ricks Cabaret International, Inc. (MM) (NASDAQ:RICK)
Today : Saturday 30 July 2011
A subsidiary of Rick's Cabaret International, Inc. (NASDAQ: RICK), the nation's leading group of upscale gentlemen's clubs, has completed the acquisition of the Minneapolis gentlemen's club known as Schiek's Palace Royale for $2,875,000. In addition a subsidiary of Rick's Cabaret acquired the real estate associated with the club at South 4th Street in downtown Minneapolis for $3,250,000.
(Logo: http://photos.prnewswire.com/prnh/20110418/MM85342LOGO)
Closings on the transaction had been delayed because the shutdown of Minnesota state government offices had prevented issuance of required alcoholic beverage licenses, all of which have now been delivered. The Rick's Cabaret subsidiary has begun operating the club, which will now be known as The Downtown Cabaret.
The acquisition brings to 22 the number of clubs in the Rick's Cabaret group nationwide.
Eric Langan, president and CEO of Rick's Cabaret said: "The Downtown Cabaret is a great location for us. We now have the top two clubs in the Minneapolis market, along with accompanying efficiencies in management, marketing and purchasing. We will be announcing details of our grand opening very soon and we think the market will be delighted with the changes we'll be making."
About Rick's Cabaret: Rick's Cabaret International, Inc. (NASDAQ: RICK) subsidiaries operate 22 adult nightclubs nationwide serving primarily businessmen and professionals. The clubs offer live entertainment, dining and bar operations. Nightclubs in New York City, Miami, Philadelphia, Charlotte, Dallas, Houston, Minneapolis and other cities operate under the names including "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 ir@ricks.com or visit www.ricksinvestor.com.
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. Additional factors that could cause the company's results to differ materially from those described in the forward-looking statements are described in forms filed with the SEC from time to time and available at www.ricksinvestor.com or on the SEC's internet website at www.sec.gov. 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 www.ricksinvestor.com.
SOURCE Rick's Cabaret International, Inc.
Great stuff CJP...I think it is people taking profits and going to cash while Pres Obama and Speaker Boehner figure this deficit mess out. Once they have, it will be party time in D.C. once again. LOL
My theory on the recent retracement ...
If the government shuts down so will he DC area nudie bar scene.
lol
Chris
BIG NEWS OUT!! Rick's Cabaret International, Inc. Reports 15.2% Rise in Third Quarter Nightclub Sales, to $20.5 Million
Ricks Cabaret International, Inc. (MM) (NASDAQ:RICK)
Today : Tuesday 12 July 2011
Rick's Cabaret International, Inc. (NASDAQ: RICK), had total revenues in its group of 23 nightclubs of $20.5 million in the third quarter ending June 30, 2011, an increase of 15.2 percent over revenues of $17.8 million in the same quarter in 2010. The figures do not include results from Rick's Cabaret in Las Vegas, which was discontinued during the quarter.
(Logo: http://photos.prnewswire.com/prnh/20110418/MM85342LOGO)
Same store sales at clubs operated for more than one year rose 9.0 percent for the quarter, to $19.2 million from $17.6 million in the same period in 2010.
"The NBA championship series was positive for our clubs in Miami and the Dallas-Fort Worth market during this quarter," said Eric Langan, President and CEO of Rick's Cabaret. "The Rick's Cabaret locations in Minneapolis and San Antonio did very well, and our newly acquired club in Indianapolis is beginning to make contributions to our revenues." He noted that operations at the Las Vegas location were sharply curtailed in April and the club was essentially closed during May and June.
The company will announce its earnings results for the quarter in mid August.
About Rick's Cabaret: Rick's Cabaret International, Inc. (NASDAQ: RICK) is home to 23 upscale adult nightclubs serving primarily businessmen and professionals that offer live entertainment, dining and bar operations. Nightclubs in New York City, Miami, Philadelphia, 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 ir@ricks.com or visit www.ricksinvestor.com.
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. Additional factors that could cause the Company's results to differ materially from those described in the forward-looking statements are described in forms filed with the SEC from time to time and available at www.ricksinvestor.com or on the SEC's internet website at www.sec.gov. 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 www.ricksinvestor.com.
SOURCE Rick's Cabaret International, Inc.
U R WELCOME....GREAT CALL.
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10959 Cutten Road
Houston, TX 77066
United States - Map
Phone: 281-397-6730
Fax: 281-820-1445
Web Site: http://www.rickscabaret.com
DETAILS
Index Membership: N/A
Sector: Services
Industry: Restaurants
Full Time Employees: 1,100
BUSINESS SUMMARY
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:
Nightclub Entertainment:
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 ir@ricks.com.
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.
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