RCI Announces All 10 Bombshells in Texas to Open; Some Other Locations for In-Store Dining

HOUSTON—April 29, 2020—RCI Hospitality Holdings, Inc. (Nasdaq: RICK) today announced subsidiaries plan to open all 10 Bombshells restaurant locations in Texas this week and next in line with the Governor's most recent executive order regarding Phase 1 of reopening the state's economy, which calls for 25% occupancy as well as other guest and employee safety measures.

Five Bombshells will open this Friday, May 1, at 11 AM CT. They are Pearland, US 59, Katy, and I-10 East in the Houston area, and the location in Dallas. The other five are planned to open Thursday, May 7. RCI also announced subsidiaries plan to open several other locations in Texas for in-store dining purposes. If Texas proceeds to Phase 2 of its reopening plans on May 18th, which calls for 50% occupancy, RCI anticipates opening the rest of its 33 Texas locations.

"We're excited to do our part to test the waters and help slowly, safely and responsibly reopen the Texas economy," said Eric Langan, RCI President & CEO. "The cooks, wait staff and managers at these locations are eager to get back to work and start earning again for their families. Our subsidiaries plan to do this while following safe standards for the protection of guests and employees."

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, but not limited to, the risks and uncertainties associated with (i) operating and managing an adult business, (ii) the business climates in cities where it operates, (iii) the success or lack thereof in launching and building the company's businesses, (iv) cyber security, (v) conditions relevant to real estate transactions, (vi) our ability to maintain compliance with the filing requirements of the SEC and the Nasdaq Stock Market, and (vii) 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