RCI Hospitality to Ring The Nasdaq Closing Bell to Celebrate 20th Anniversary of IPO
HOUSTON, Texas, October 5, 2015—RCI Hospitality Holdings, Inc. (Nasdaq: RICK) will ring the Closing Bell at the Nasdaq Stock Market in New York City on Wednesday, October 7, 2015 to celebrate the 20th anniversary of its Initial Public Offering and listing on the exchange.
RCI is the national leader in adult gentlemen clubs and sports bars/restaurants. Through its subsidiaries, the company owns 46 units in major cities around the country.
Included are Rick’s Cabaret New York and Vivid Cabaret New York—two of the most popular adult clubs in Manhattan; Tootsie’s Cabaret Miami—the country’s largest adult entertainment complex, with 74,000 square feet; and Bombshells—a fast growing chain of sport bars/restaurants in Texas.
A live webcast of the Closing Bell ceremony will be available beginning at 3:45 p.m. ET on https://new.livestream.com/nasdaq/live.
Ringing the bell will be Chairman, President & CEO Eric Langan, accompanied by members of the Executive Team and Board of Directors, and Regional Managers.
Robert Watters, now a director, founded the company as Rick’s Cabaret in 1983, pioneering the concept of elegant gentlemen's clubs. In 1998, it merged with the XTC Cabaret chain, owned by Mr. Langan, who acquired his first club in Texas at age 21 with $40,000 from the sale of his baseball card collection.
RCI has steadily grown, becoming the major consolidator in the gentlemen's club industry, while expanding into related businesses, such as bars/restaurants.
“Key to our success has been constant innovation; applying hospitality industry best practices to adult clubs; recruiting highly skilled, highly motivated managers and staff; strong cash flow; and our loyal base of investors,” said Mr. Langan.
Trailing 12-month revenues totaled more than $140 million. The company and its subsidiaries have about 1,750 employees.
About RCI Hospitality Holdings, Inc. (Nasdaq: RICK)
With 46 units, RCI Hospitality Holdings, Inc., through its subsidiaries, is the country’s leading company in adult gentlemen clubs and sports bars/restaurants. Adult clubs in New York City, Miami, Philadelphia, Charlotte, Dallas/Ft. Worth, Houston, Minneapolis, Indianapolis and other cities operate under brand names, such as “Rick's Cabaret,” “XTC,” “Club Onyx,” “Vivid Cabaret,” “Jaguars” and “Tootsie’s Cabaret.” Sports bars/restaurants operate under the brand name “Bombshells.” Please visit http://www.rcihospitality.com/
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