RCI Hospitality Holdings – Leader in gentlemen's clubs and sports bars/restaurants
- Founded in 1983, we pioneered elegant gentlemen's clubs based on powerful brands, quality environments, beautiful entertainers, and excellent restaurants.
- Since our IPO in 1995, we have used our expertise to transform RCI into a leading hospitality company.
- Today, subsidiaries own and operate more than 40 nightclubs and sports bars/restaurants.
- Larger units are in major cities, such as New York, Miami, Philadelphia, Dallas/Ft. Worth, and Minneapolis, with smaller ones spread through the South and Southwest.
- RCI also owns ED Publications, Inc., the leading media company serving the multi-billion dollar adult club business with industry-related websites, magazines and trade shows.
- Investors are attracted by RCI's strong cash flow, operating margins and local laws that create high barriers to entry in the gentlemen's club business.
- Innovation: RCI has extensive experience in nightclub development, marketing, management, IT, and security. We know how to grow revenues and profits.
- Club Roll Up: There is a universe of approximately 2,200 clubs of which RCI would consider acquiring on a selected basis. Many owners plan to retire in the years ahead. With increasing access to financing, RCI can consolidate the industry, creating greater scale.
- Bombshells: RCI has begun leveraging its expertise, developing the rapidly-growing Bombshells chain of military themed sports bars/restaurants.
- Cash Flow: RCI is focused on growing its considerable free cash flow. We calculate free cash flow as net cash flows from operating activities minus maintenance capital expenditures.
- Capital Allocation Strategy: Our capital allocation strategy provides us with disciplined guidelines on how we should use our free cash flow to repurchase shares, acquire or open new clubs and restaurants, or accelerate payments on our debt; provided, however, that we may deviate from this strategy if the opportunities warrant.
- Rick's Cabaret: Elegant clubs with restaurants
- Scarlett’s Cabaret: High-end, high-energy “party” style club
- Vivid Cabaret: High-end, high-energy “party” style club
- Tootsie's Cabaret: Nation's mega club with 74,000 square feet
- Club Onyx: High-end clubs for African-American professionals
- Jaguars Club: Lively BYOB clubs for blue collar patrons and the college crowd
- XTC Cabaret: Lively BYOB clubs for blue collar patrons and the college crowd
- Bombshells: Military themed, sports bars/restaurants for a great time and great food
History of Innovation
Robert Watters founded the company in 1983 in Houston with the innovative Rick's Cabaret gentlemen's club concept. In 1998, the company merged with the
XTC Cabaret chain, which was controlled by Eric Langan, who eventually became the company's president and CEO.
The early days as a publicly traded company (originally named Rick's Cabaret International, Inc.) were challenging. During the first 10 years, the stock
fell more than half. Since then, shares have grown significantly.
Focusing on innovation, RCI has created a truly upscale, friendly chain of clubs for both customers and entertainers, and built a substantial
company through acquisition and internal growth.
"We brought our club concept to Manhattan in 2005 with Rick's Cabaret New York," said Mr. Langan. "Critics said it would never work. It did,
and we did it again in 2014 with Vivid Cabaret New York aimed at younger professionals. Today, Rick's is considered the No. 1 club in the city and Vivid
the hottest new club.
"Another example is the success of Club Onyx, the first upscale clubs to cater to the African-American professional. It has attracted
an enthusiastic clientele of professional athletes, musicians, businessmen, and community leaders.
"Now we are taking this spirit of innovation to closely related businesses. We have created the Bombshells sports bar/restaurant chain, which is attracting
interest from restaurant franchisors around the country."
Eric Langan, President & CEO
- With more than two decades in the nightclub industry, Eric Langan joined RCI in 1998 and has led the company since 1999.
- He acquired his first club in Texas at age 21 with $40,000 from the sale of his baseball card collection. Later, he acquired a controlling interest in RCI and became CEO, following its merger with his own publicly traded Taurus, Inc., which owned the XTC Cabaret chain.
- Under Mr. Langan’s direction, RCI has grown inside and outside of Texas, becoming the leading consolidator in the nightclub industry, as well as expanding the company into related businesses, such as sports bars/restaurants.
- Mr. Langan is a member of the Board of Directors of Adult Club Executives (ACE), the major trade organization for the gentlemen's club industry, and is considered an expert in the business.
- He grew up in Peoria, IL, where his father was a police officer. Later, the family moved to the Dallas area, where Eric began his entrepreneurial career. By age 16, he had developed his own advertising media company, distributing promotional flyers for local businesses.
- Mr. Langan believes the future of RCI lies in continued innovation in the hospitality industry, with an emphasis on employing self-motivated, entrepreneurial managers; adhering to strict cost controls; focusing on increasing cash flow; and creating shareholder value.
Did you know?
- Anna Nicole Smith met her oil billionaire husband while dancing at Rick’s Cabaret
- Many performers at our clubs have become Penthouse Pets and Playboy Playmates
- Forbes lists RCI as one of America's 200 Best Small Companies
RCI has been profiled in The Wall Street Journal, Fortune,
MarketWatch, USA Today, New York Daily News and other publications
Rick’s Cabaret was named "Best Strip Club in NYC" by Playboy.com and Rick's steakhouse restaurant is listed in
Zagat’s New York Nightlife and was included in the Time Out New York TONY 100 list of fine Manhattan dining establishments