President & CEO Eric Langan, who has led Rick’s Cabaret International, Inc. since 1999, has articulated a corporate strategy for steadily expanding operations and growing revenues and profit. Mr. Langan has positioned the Company as the leading publicly traded owner of upscale gentlemen’s clubs by creating strong financial controls for a business model that offers a pleasurable ambiance and a conscientious approach to customer service patterned after the “concierge model" of the top Las Vegas casinos.
Under Mr. Langan’s direction, the strategy of the company is to maintain growth through selective acquisitions and organic increases, strong cash flow, consistent profitability and effective internal financial controls developed by management. The company operates in locales where local laws create high barriers to entry by potential competitors. Since the early 2000s, the Company has executed a roll-up strategy in the consolidating gentlemen’s club industry. In recent years, the Company has acquired nightclubs in major markets, including New York City, Miami, Philadelphia, Dallas-Ft. Worth and Las Vegas. Another important strategy is to continue to increase revenues at existing clubs (organic) by building market share through constantly improved customer experience at our clubs.
Numerous national newspapers and magazines have written extensively about the Company’s strategy and performance. Rick’s Cabaret has been profiled in The Wall Street Journal, Fortune, MarketWatch, Corporate Board Member, Smart Money, USA Today, The New York Daily News and other publications. Forbes has named Rick’s Cabaret one of America's 200 Best Small Companies since 2008.