Rick's Cabaret Expands to 9-Unit National Chain of Quality Gentlemen's Clubs

HOUSTON, February 7, 2019 – RCI Hospitality Holdings, Inc. (Nasdaq: RICK) announced that its subsidiaries have renamed newly acquired nightclubs in Chicago and Pittsburgh as Rick's Cabaret, the nation's number one brand in quality gentlemen's clubs.

The rebranding reflects new management at the clubs and is designed to leverage Rick's upscale, high quality cachet as well as its higher visibility among domestic and international travelers.

The name change affected the former VIP's Gentlemen's Club at 1531 N. Kingsbury Street, Chicago, IL, 60642, and the former Blush Gentlemen's Club and Sports Bar at 135 9th Street, Pittsburgh, PA, 15222. Both were acquired in November.

Although the name is new, the clubs will maintain each location's unique appeal that has enabled them to prosper in their respective home cities for decades.

The Rick's Cabaret chain now encompasses nine locations around the country: Austin, Chicago, two in Dallas-Fort Worth, Minneapolis, New York City, Odessa, Pittsburgh, and San Antonio.

Founded in 1983, Rick's Cabaret (http://www.rickscabaret.com) pioneered elegant gentlemen's clubs based on quality environments, beautiful entertainers, and excellent restaurants.

About RCI Hospitality Holdings, Inc. (Nasdaq: RICK)

With more than 40 units, RCI Hospitality Holdings, Inc., through its subsidiaries, is the country's leading company in gentlemen's clubs and sports bars/restaurants.

Forward-Looking Statements

This press release 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 press release, 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 cybersecurity, 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. The company has no obligation to update or revise the forward-looking statements to reflect the occurrence of future events or circumstances.

Media & Investor Contacts

Gary Fishman and Steven Anreder at 212-532-3232 or gary.fishman@anreder.com and steven.anreder@anreder.com