Latest news with #EricLangan
Business Wire
11-08-2025
- Business
- Business Wire
RCI Reports 3Q25 Results, Hosts X Spaces Call at 4:30 PM ET Today
HOUSTON--(BUSINESS WIRE)--RCI Hospitality Holdings, Inc. (Nasdaq: RICK) today reported results for the fiscal 2025 third quarter ended June 30, 2025. The Company also filed its Form 10-Q today. Summary Financials (in millions, except EPS) 3Q25 3Q24 9M25 9M24 Total revenues $71.1 $76.2 $208.5 $222.4 EPS $0.46 $(0.56) $1.84 $0.30 Non-GAAP EPS 1 $0.77 $1.35 $2.23 $3.11 Impairments and other charges, net $2.3 $18.3 $2.2 $26.5 Net cash provided by operating activities $13.8 $15.8 $35.7 $40.2 Free cash flow 1 $13.3 $13.8 $32.3 $35.3 Net income (loss) attributable to RCIHH common stockholders $4.1 $(5.2) $16.3 $2.8 Adjusted EBITDA 1 $15.3 $20.1 $45.2 $54.8 Weighted average shares used in computing EPS – basic and diluted 8.79 9.28 8.86 9.33 Expand 1 See 'Non-GAAP Financial Measures' below. 3Q25 Summary (Comparisons are to the year-ago period unless indicated otherwise) Eric Langan, President and CEO, said: "We continued to make solid progress with our Back to Basics 5-Year Capital Allocation Plan. Nightclubs revenues were nearly level despite tariff and tax bill related economic uncertainty. Bombshells revenues reflected the previously announced sale/divestiture of five underperformers, but increased sequentially from 2Q25. Consolidated profitability benefited from the absence of impairment charges, partially offset by other factors." Back to Basics 5-Year Capital Allocation Plan (FY25-29) 3Q25: Early April 2025 acquired Platinum West in West Columbia, SC, for $6.25 million for the club and $1.75 million for the real estate. 3Q25: Mid-June 2025 acquired Platinum Plus in Allentown, PA, for $2.0 million. 3Q25: Late June 2025 opened Rick's Cabaret and Steakhouse in Central City, CO. 3Q25: Repurchased 75,325 common shares for $3.0 million ($40.41 average per share), with 8,756,800 shares outstanding at June 30, 2025. 4Q25: Early July 2025 opened a Bombshells in Lubbock, TX. X Spaces Conference Call at 4:30 PM ET Today Hosted by RCI President and CEO Eric Langan, CFO Bradley Chhay, and Mark Moran of Equity Animal. Call link: (X log in required). Presentation link: To ask questions: Participants must join the X Space using a mobile device. To listen only: Participants can access the X Space from a computer. There will be no other types of telephone or webcast access. 3Q25 Results (Comparisons are to the year-ago period unless indicated otherwise) Nightclubs segment: Revenues of $62.3 million declined by 0.8%. Sales reflected a 3.7% decline in same-store sales and the absence of Baby Dolls Fort Worth due to fire in July 2024, mostly offset by $2.6 million from four new clubs acquired or opened in 2Q25 and 3Q25 and four rebranded/reformatted Texas clubs not in SSS. 2 By revenue type, food, merchandise and other increased 5.1%, service increased 0.3%, and alcoholic beverages declined 3.9%. Other net charges totaled $2.3 million, primarily reflecting lawsuit settlement expense and gain on insurance, compared to $7.7 million, primarily reflecting 3Q24 impairments. Operating income was $17.8 million (28.5% of segment revenues) compared to $13.6 million (21.7%). Results reflected the decline in other net charges and SSS, acquisitions not yet fully optimized, and Rick's Cabaret Central City pre-opening costs. Non-GAAP operating income, which excludes other net charges, was $20.7 million (33.2% of segment revenues) compared to $21.9 million (34.9%). Bombshells segment: Revenues of $8.6 million declined 34.5%. Sales reflected the sale/divestiture of five underperforming locations and a 13.5% decline in SSS, partially offset by two new locations not in SSS (Stafford, TX, and Denver, CO). 2 Operating income was $87,000 (1.0% of segment revenues) compared to a loss of $8.9 million (-67.8%), which included impairments of $10.3 million. Results reflected the decline in impairments, sales from open locations and Bombshells Lubbock pre-opening costs. Non-GAAP operating income, which excludes impairments, was $100,000 (1.2% of segment revenues) compared to $1.4 million (10.8%). Corporate segment: Expenses totaled $8.7 million (12.2% of total revenues) compared to $7.2 million (9.4%). Non-GAAP expenses totaled $8.3 million (11.7% of total revenues) compared to $6.4 million (8.4%). GAAP and non-GAAP expenses reflected the net addition of $1.7 million in estimated non-cash self-insurance actuarial reserves. Impairments and other charges, net within consolidated operations totaled $2.3 million compared to $18.3 million. 3Q25 primarily reflected $3.3 million lawsuit settlement expense, partially offset by a $1.1 million gain from an insurance payment related to the Baby Dolls Fort Worth fire. 3Q24 primarily reflected $17.9 million in impairments. Income tax was a $0.7 million expense compared to a $1.4 million benefit. Weighted average shares outstanding of 8.79 million declined 5.2% due to share buybacks. Debt was $241.3 million at June 30, 2025 compared to $241.5 million at March 31, 2025. Debt reflected scheduled pay downs, new acquisition related debt and construction financing for Bombshells Rowlett and Lubbock. 2 See our July 10, 2025 news release on 3Q25 sales for more details. Non-GAAP Financial Measures In addition to our financial information presented in accordance with GAAP, management uses certain non-GAAP financial measures, within the meaning of the SEC Regulation G, to clarify and enhance understanding of past performance and prospects for the future. Generally, a non-GAAP financial measure is a numerical measure of a company's operating performance, financial position or cash flows that excludes or includes amounts that are included in or excluded from the most directly comparable measure calculated and presented in accordance with GAAP. We monitor non-GAAP financial measures because it describes the operating performance of the Company and helps management and investors gauge our ability to generate cash flow, excluding (or including) some items that management believes are not representative of the ongoing business operations of the Company, but are included in (or excluded from) the most directly comparable measures calculated and presented in accordance with GAAP. Relative to each of the non-GAAP financial measures, we further set forth our rationale as follows: Non-GAAP Operating Income and Non-GAAP Operating Margin. We calculate non-GAAP operating income and non-GAAP operating margin by excluding the following items from income from operations and operating margin: (a) amortization of intangibles, (b) impairment of assets, (c) settlement of lawsuits, (d) gains or losses on sale of businesses and assets, (e) gains or losses on insurance, and (f) stock-based compensation. We believe that excluding these items assists investors in evaluating period-over-period changes in our operating income and operating margin without the impact of items that are not a result of our day-to-day business and operations. Non-GAAP Net Income and Non-GAAP Net Income per Diluted Share. We calculate non-GAAP net income and non-GAAP net income per diluted share by excluding or including certain items to net income or loss attributable to RCIHH common stockholders and diluted earnings per share. Adjustment items are: (a) amortization of intangibles, (b) impairment of assets, (c) settlement of lawsuits, (d) gains or losses on sale of businesses and assets, (e) gains or losses on insurance, (f) stock-based compensation, (g) gains or losses on lease termination, and (h) the income tax effect of the above-described adjustments. Included in the income tax effect of the above adjustments is the net effect of the non-GAAP provision for income taxes, calculated at 17.4% and 11.7% effective tax rate of the pre-tax non-GAAP income before taxes for the nine months ended June 30, 2025, and 2024, respectively, and the GAAP income tax expense (benefit). We believe that excluding and including such items help management and investors better understand our operating activities. Adjusted EBITDA. We calculate adjusted EBITDA by excluding the following items from net income or loss attributable to RCIHH common stockholders: (a) depreciation and amortization, (b) impairment of assets, (c) income tax expense, (d) net interest expense, (e) settlement of lawsuits, (f) gains or losses on sale of businesses and assets, (g) gains or losses on insurance, (h) stock-based compensation, and (i) gains or losses on lease termination. We believe that adjusting for such items helps management and investors better understand our operating activities. Adjusted EBITDA provides a core operational performance measurement that compares results without the need to adjust for federal, state and local taxes which have considerable variation between domestic jurisdictions. The results are, therefore, without consideration of financing alternatives of capital employed. We use adjusted EBITDA as one guideline to assess our unleveraged performance return on our investments. Adjusted EBITDA is also the target benchmark for our acquisitions of nightclubs. We also use certain non-GAAP cash flow measures such as free cash flow. Free cash flow is derived from net cash provided by operating activities less maintenance capital expenditures. We use free cash flow as the baseline for the implementation of our capital allocation strategy. About RCI Hospitality Holdings, Inc. (Nasdaq: RICK) (X: @RCIHHinc) With more than 60 locations, RCI Hospitality Holdings, Inc., through its subsidiaries, is the country's leading company in adult nightclubs and sports bars-restaurants. See all our brands at 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, including, but not limited to, the risks and uncertainties associated with (i) operating and managing an adult entertainment or restaurant 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, and (vi) numerous other factors such as laws governing the operation of adult entertainment or restaurant businesses, competition and dependence on key personnel. For more detailed discussion of such factors and certain risks and uncertainties, see RCI's annual report on Form 10-K for the year ended September 30, 2024, as well as its other filings with the U.S. Securities and Exchange Commission. The Company has no obligation to update or revise the forward-looking statements to reflect the occurrence of future events or circumstances. RCI HOSPITALITY HOLDINGS, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) Three Months Ended Nine Months Ended June 30, 2025 June 30, 2024 June 30, 2025 June 30, 2024 CASH FLOWS FROM OPERATING ACTIVITIES Net income (loss) $ 4,060 $ (5,220 ) $ 16,319 $ 2,773 Adjustments to reconcile net income (loss) to net cash provided by operating activities: Depreciation and amortization 3,892 3,901 11,237 11,638 Impairment of assets — 17,931 1,780 25,964 Deferred income tax benefit (958 ) (4,508 ) (2,200 ) (6,419 ) Loss (gain) on sale of businesses and assets 22 79 (1,226 ) 116 Amortization and writeoff of debt discount and issuance costs 130 150 420 462 Doubtful accounts expense on notes receivable 27 — 27 22 Gain on insurance (729 ) — (1,879 ) — Noncash lease expense 676 783 2,002 2,318 Stock-based compensation 392 471 980 1,412 Changes in operating assets and liabilities, net of business acquisitions: Receivables (443 ) 1,985 1,271 3,052 Inventories 26 (70 ) 90 (212 ) Prepaid expenses, other current, and other assets 930 2,936 400 (3,484 ) Accounts payable, accrued, and other liabilities 5,768 (2,674 ) 6,463 2,591 Net cash provided by operating activities 13,793 15,764 35,684 40,233 CASH FLOWS FROM INVESTING ACTIVITIES Proceeds from sale of businesses and assets 1 1,950 1,086 1,950 Proceeds from insurance 743 — 1,893 — Proceeds from notes receivable 76 63 223 179 Payments for property and equipment and intangible assets (3,681 ) (6,417 ) (12,289 ) (19,219 ) Acquisition of businesses, net of cash acquired (7,000 ) — (13,000 ) — Net cash used in investing activities (9,861 ) (4,404 ) (22,087 ) (17,090 ) CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from debt obligations 779 20,000 9,175 22,657 Payments on debt obligations (4,110 ) (6,507 ) (14,431 ) (17,137 ) Purchase of treasury stock (3,044 ) (9,173 ) (9,158 ) (12,775 ) Payment of dividends (614 ) (552 ) (1,856 ) (1,674 ) Payment of loan origination costs (9 ) (154 ) (80 ) (290 ) Net cash used in financing activities (6,998 ) 3,614 (16,350 ) (9,219 ) NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH (3,066 ) 14,974 (2,753 ) 13,924 CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT BEGINNING OF PERIOD 32,663 19,973 32,350 21,023 $ 29,597 $ 34,947 $ 29,597 $ 34,947 Expand RCI HOSPITALITY HOLDINGS, INC. CONSOLIDATED BALANCE SHEETS (in thousands) September 30, 2024 June 30, 2024 ASSETS Current assets Cash and cash equivalents $ 29,347 $ 32,350 $ 34,947 Receivables, net 4,606 5,832 7,057 Inventories 4,746 4,676 4,624 Prepaid expenses and other current assets 3,214 4,427 5,457 Assets held for sale 3,394 — — Total current assets 45,307 47,285 52,085 Property and equipment, net 282,246 280,075 283,834 Operating lease right-of-use assets, net 26,641 26,231 26,880 Notes receivable, net of current portion 3,939 4,174 4,228 Goodwill 70,236 61,911 61,911 Intangibles, net 166,942 163,461 170,709 Other assets 2,101 1,227 1,342 Total assets $ 597,412 $ 584,364 $ 600,989 LIABILITIES AND EQUITY Current liabilities Accounts payable $ 5,406 $ 5,637 $ 5,519 Accrued liabilities 21,764 20,280 20,155 Current portion of debt obligations, net 18,623 18,871 28,889 Current portion of operating lease liabilities 3,249 3,290 3,161 Total current liabilities 49,042 48,078 57,724 Deferred tax liability, net 20,493 22,693 22,724 Debt, net of current portion and debt discount and issuance costs 222,638 219,326 216,511 Operating lease liabilities, net of current portion 28,171 30,759 32,779 Other long-term liabilities 7,765 398 318 Total liabilities 328,109 321,254 330,056 Commitments and contingencies Equity Preferred stock — — — Common stock 87 90 91 Additional paid-in capital 53,244 61,511 68,950 Retained earnings 216,216 201,759 202,143 Total RCIHH stockholders' equity 269,547 263,360 271,184 Noncontrolling interests (244 ) (250 ) (251 ) Total equity 269,303 263,110 270,933 Total liabilities and equity $ 597,412 $ 584,364 $ 600,989 Expand RCI HOSPITALITY HOLDINGS, INC. NON-GAAP FINANCIAL MEASURES (in thousands, except per share, number of shares, and percentage data) Three Months Ended Nine Months Ended June 30, 2025 June 30, 2024 June 30, 2025 June 30, 2024 Reconciliation of GAAP net income (loss) to Adjusted EBITDA Net income (loss) attributable to RCIHH common stockholders $ 4,058 $ (5,233 ) $ 16,313 $ 2,767 Income tax expense (benefit) 733 (1,426 ) 3,648 378 Interest expense, net 3,915 4,110 11,797 12,135 Depreciation and amortization 3,892 3,901 11,237 11,638 Impairment of assets — 17,931 1,780 25,964 Settlement of lawsuits 3,281 141 3,587 308 Loss (gain) on sale of businesses and assets 202 188 (984 ) 180 Gain on insurance (1,134 ) — (2,151 ) — Stock-based compensation 392 471 980 1,412 Gain on lease termination — — (979 ) — Adjusted EBITDA $ 15,339 $ 20,083 $ 45,228 $ 54,782 Reconciliation of GAAP net income (loss) to non-GAAP net income Net income (loss) attributable to RCIHH common stockholders $ 4,058 $ (5,233 ) $ 16,313 $ 2,767 Amortization of intangibles 576 598 1,733 1,897 Impairment of assets — 17,931 1,780 25,964 Settlement of lawsuits 3,281 141 3,587 308 Stock-based compensation 392 471 980 1,412 Loss (gain) on sale of businesses and assets 202 188 (984 ) 180 Gain on insurance (1,134 ) — (2,151 ) — Gain on lease termination — — (979 ) — Net income tax effect (562 ) (1,554 ) (515 ) (3,475 ) Non-GAAP net income $ 6,813 $ 12,542 $ 19,764 $ 29,053 Reconciliation of GAAP diluted earnings (loss) per share to non-GAAP diluted earnings per share Diluted shares 8,793,809 9,278,921 8,859,028 9,332,249 GAAP diluted earnings (loss) per share $ 0.46 $ (0.56 ) $ 1.84 $ 0.30 Amortization of intangibles 0.07 0.06 0.20 0.20 Impairment of assets 0.00 1.93 0.20 2.78 Settlement of lawsuits 0.37 0.02 0.40 0.03 Stock-based compensation 0.04 0.05 0.11 0.15 Loss (gain) on sale of businesses and assets 0.02 0.02 (0.11 ) 0.02 Gain on insurance (0.13 ) 0.00 (0.24 ) 0.00 Gain on lease termination 0.00 0.00 (0.11 ) 0.00 Net income tax effect (0.06 ) (0.17 ) (0.06 ) (0.37 ) Non-GAAP diluted earnings per share $ 0.77 $ 1.35 $ 2.23 $ 3.11 Three Months Ended Nine Months Ended June 30, 2025 June 30, 2024 June 30, 2025 June 30, 2024 Reconciliation of GAAP operating income (loss) to non-GAAP operating income Income (loss) from operations $ 8,713 $ (2,536 ) $ 30,790 $ 15,286 Amortization of intangibles 576 598 1,733 1,897 Impairment of assets — 17,931 1,780 25,964 Settlement of lawsuits 3,281 141 3,587 308 Stock-based compensation 392 471 980 1,412 Loss (gain) on sale of businesses and assets 202 188 (984 ) 180 Gain on insurance (1,134 ) — (2,151 ) — Non-GAAP operating income $ 12,030 $ 16,793 $ 35,735 $ 45,047 Reconciliation of GAAP operating margin to non-GAAP operating margin GAAP operating margin 12.2 % (3.3 )% 14.8 % 6.9 % Amortization of intangibles 0.8 % 0.8 % 0.8 % 0.9 % Impairment of assets 0.0 % 23.5 % 0.9 % 11.7 % Settlement of lawsuits 4.6 % 0.2 % 1.7 % 0.1 % Stock-based compensation 0.6 % 0.6 % 0.5 % 0.6 % Loss (gain) on sale of businesses and assets 0.3 % 0.2 % (0.5 )% 0.1 % Gain on insurance (1.6 )% 0.0 % (1.0 )% 0.0 % Non-GAAP operating margin 16.9 % 22.0 % 17.1 % 20.3 % Reconciliation of net cash provided by operating activities to free cash flow Net cash provided by operating activities $ 13,793 $ 15,764 $ 35,684 $ 40,233 Less: Maintenance capital expenditures 454 1,986 3,341 4,980 Free cash flow $ 13,339 $ 13,778 $ 32,343 $ 35,253 Expand RCI HOSPITALITY HOLDINGS, INC. ($ in thousands) Three Months Ended June 30, 2025 Three Months Ended June 30, 2024 Nightclubs Bombshells Other Corporate Total Nightclubs Bombshells Other Corporate Total Income (loss) from operations $ 17,761 $ 87 $ (441 ) $ (8,694 ) $ 8,713 $ 13,640 $ (8,914 ) $ (108 ) $ (7,154 ) $ (2,536 ) Amortization of intangibles 572 1 — 3 576 578 16 — 4 598 Impairment of assets — — — — — 7,619 10,312 — — 17,931 Settlement of lawsuits 3,281 — — — 3,281 141 — — — 141 Stock-based compensation — — — 392 392 — — — 471 471 Loss (gain) on sale of businesses and assets 191 12 — (1 ) 202 (76 ) 6 — 258 188 Gain on insurance (1,134 ) — — — (1,134 ) — — — — — Non-GAAP operating income (loss) $ 20,671 $ 100 $ (441 ) $ (8,300 ) $ 12,030 $ 21,902 $ 1,420 $ (108 ) $ (6,421 ) $ 16,793 GAAP operating margin 28.5 % 1.0 % (220.5 )% (12.2 )% 12.2 % 21.7 % (67.8 )% (49.5 )% (9.4 )% (3.3 )% Non-GAAP operating margin 33.2 % 1.2 % (220.5 )% (11.7 )% 16.9 % 34.9 % 10.8 % (49.5 )% (8.4 )% 22.0 % Nine Months Ended June 30, 2025 Nine Months Ended June 30, 2024 Nightclubs Bombshells Other Corporate Total Nightclubs Bombshells Other Corporate Total Income (loss) from operations $ 53,246 $ 1,831 $ (1,292 ) $ (22,995 ) $ 30,790 $ 45,030 $ (8,129 ) $ (581 ) $ (21,034 ) $ 15,286 Amortization of intangibles 1,718 3 — 12 1,733 1,758 126 — 13 1,897 Impairment of assets 1,780 — — — 1,780 15,652 10,312 — — 25,964 Settlement of lawsuits 3,557 30 — — 3,587 308 — — — 308 Stock-based compensation — — — 980 980 — — — 1,412 1,412 Loss (gain) on sale of businesses and assets 300 (1,189 ) — (95 ) (984 ) (70 ) 10 — 240 180 Gain on insurance (2,151 ) — — — (2,151 ) — — — — — Non-GAAP operating income (loss) $ 58,450 $ 675 $ (1,292 ) $ (22,098 ) $ 35,735 $ 62,678 $ 2,319 $ (581 ) $ (19,369 ) $ 45,047 GAAP operating margin 29.3 % 6.9 % (270.3 )% (11.0 )% 14.8 % 24.6 % (21.0 )% (116.0 )% (9.5 )% 6.9 % Non-GAAP operating margin 32.2 % 2.6 % (270.3 )% (10.6 )% 17.1 % 34.2 % 6.0 % (116.0 )% (8.7 )% 20.3 % Expand
Yahoo
08-08-2025
- Business
- Yahoo
RCI to Host 3Q25 Conference Call on X Spaces on Monday, August 11
HOUSTON, August 08, 2025--(BUSINESS WIRE)--RCI Hospitality Holdings, Inc. (Nasdaq: RICK) plans to file its 10-Q and report financial results for the fiscal 2025 third quarter ended June 30, 2025 after the market closes on Monday, August 11. The Company will hold a related conference call on X Spaces at 4:30 PM ET. X Spaces Call & Presentation Hosted by RCI President and CEO Eric Langan, CFO Bradley Chhay, and Mark Moran of Equity Animal Call link: (X log in required) Presentation link: To ask questions during Q&A: Participants must join the X Space using a mobile device To listen only: Participants can access the X Space from a computer There will be no other types of telephone or webcast access About RCI Hospitality Holdings, Inc. (Nasdaq: RICK) (X: @RCIHHinc) With more than 60 locations, RCI Hospitality Holdings, Inc., through its subsidiaries, is the country's leading company in adult nightclubs and sports bars/restaurants. See all our brands at 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, including, but not limited to, the risks and uncertainties associated with (i) operating and managing an adult entertainment or restaurant 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, and (vi) numerous other factors such as laws governing the operation of adult entertainment or restaurant businesses, competition and dependence on key personnel. For more detailed discussion of such factors and certain risks and uncertainties, see RCI's annual report on Form 10-K for the year ended September 30, 2024, as well as its other filings with the U.S. Securities and Exchange Commission. The Company has no obligation to update or revise the forward-looking statements to reflect the occurrence of future events or circumstances. View source version on Contacts Media & Investor Contacts Gary Fishman and Michael Wichman at 212-883-0655 or gfishman@ and mwichman@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
27-06-2025
- Business
- Business Wire
RCI Announces Opening of Rick's Cabaret & Steakhouse in Historic Central City, CO
CENTRAL CITY, Colo.--(BUSINESS WIRE)--RCI Hospitality Holdings, Inc. (Nasdaq: RICK) proudly announces the opening tonight at 6 p.m. of Rick's Cabaret & Steakhouse in the heart of Central City's celebrated historic district. The three-story venue brings a new era of Las Vegas-style nightlife and fine dining to the Central City-Black Hawk gaming area. The newly restored building at 130 Main Street, within the federally designated Central City-Black Hawk Historic District, has been carefully renovated to honor its legacy as part of the 'Richest Square Mile on Earth.' Central City was a pivotal hub during the Pike's Peak Gold Rush and is a testament to Colorado's vibrant mining history. Rick's opening comes just in time for Saturday, June 28's Central City Stills in the Hills festival, which celebrates the end of prohibition, in the afternoon, and the season opening of the Central City Opera, one of the oldest in the country, at night with The Barber of Seville. Rooted in Tradition, Ready for the Future 'Rick's Cabaret & Steakhouse marks a significant addition to Central City's revitalized Main Street, offering both locals and visitors a premier destination for nightlife, dining, and celebration in a setting rich with history and character,' said Eric Langan, President and CEO of RCI Hospitality Holdings, Inc. The new Rick's features a high-end nightclub with music, beautiful entertainers, and an exciting atmosphere; Rick's fine dining restaurant, serving prime steaks and gourmet cuisine; and a setting that blends historic elegance and modern luxury. The venue initially will be open Thursday, Friday, and Saturday from 6:00 p.m. to 4:00 a.m., with steakhouse seating as late as 3:00 a.m. 'Our goal is to honor the area's unique heritage while introducing a new level of entertainment and dining, enhancing the appeal of local gaming venues,' Langan said. 'We look forward to welcoming guests from Denver and beyond. Join us tonight and become part of Central City's next great chapter—where history, hospitality, and excitement meet.' Visit Rick's Cabaret & Steakhouse Central City: Internet, Facebook, Instagram Media Note: High resolution photos and logo are available here About RCI Hospitality Holdings, Inc. (Nasdaq: RICK) (X: @RCIHHinc) With more than 60 locations, RCI Hospitality Holdings, Inc., through its subsidiaries, is the country's leading company in adult nightclubs and sports bars/restaurants. See all our brands at 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, including, but not limited to, the risks and uncertainties associated with (i) operating and managing an adult entertainment or restaurant 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, and (vi) numerous other factors such as laws governing the operation of adult entertainment or restaurant businesses, competition and dependence on key personnel. For more detailed discussion of such factors and certain risks and uncertainties, see RCI's annual report on Form 10-K for the year ended September 30, 2024, as well as its other filings with the U.S. Securities and Exchange Commission. The Company has no obligation to update or revise the forward-looking statements to reflect the occurrence of future events or circumstances.
Yahoo
16-06-2025
- Business
- Yahoo
RCI Announces Acquisition of Platinum Plus Gentlemen's Club in Allentown, PA
HOUSTON, June 16, 2025--(BUSINESS WIRE)--RCI Hospitality Holdings, Inc. (Nasdaq: RICK) today announced closing on the acquisition of the upscale Platinum Plus Gentlemen's Club in Allentown, PA, minutes away by car from the airport in Allentown and the casino in Bethlehem. The purchase price totaled $2.0 million, consisting of $1.5 million cash and $0.5 million seller financing at 7% for the club. The purchase price is in line with RCI's acquisition valuation target of 3-5x annualized adjusted EBITDA for a club. Separately, a long-term lease was signed for the property. Eric Langan, President and CEO of RCI Hospitality Holdings, Inc., commented: "This is the sister club to the recently announced acquisition of Platinum West in South Carolina and the third club purchase since the recent launch of our 5-Year 'Back to Basics' Capital Allocation Plan." "Platinum Plus is a well-established business with a seasoned management team. The club adds to our six other locations in the Northeast states and should benefit from our marketing, purchasing and systems know-how." Mr. Langan added that executive management of the two Platinum clubs will stay on to ensure a smooth transition and look for new club acquisitions. The 15,000 square foot Platinum Plus is located at 1251 Airport Road, Allentown, PA 18109. The club is open Monday through Saturday from 11:00 a.m. to 2:00 a.m. and Sunday from 4:00 p.m. to 2:00 a.m. Visit About RCI Hospitality Holdings, Inc. (Nasdaq: RICK) (X: @RCIHHinc) With more than 60 locations, RCI Hospitality Holdings, Inc., through its subsidiaries, is the country's leading company in adult nightclubs and sports bars-restaurants. See all our brands at 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, including, but not limited to, the risks and uncertainties associated with (i) operating and managing an adult entertainment or restaurant 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, and (vi) numerous other factors such as laws governing the operation of adult entertainment or restaurant businesses, competition and dependence on key personnel. For more detailed discussion of such factors and certain risks and uncertainties, see RCI's annual report on Form 10-K for the year ended September 30, 2024, as well as its other filings with the U.S. Securities and Exchange Commission. The Company has no obligation to update or revise the forward-looking statements to reflect the occurrence of future events or circumstances. View source version on Contacts Media & Investor Contacts Gary Fishman and Michael Wichman at 212-883-0655 or gfishman@ and mwichman@
Business Wire
16-06-2025
- Business
- Business Wire
RCI Announces Acquisition of Platinum Plus Gentlemen's Club in Allentown, PA
HOUSTON--(BUSINESS WIRE)--RCI Hospitality Holdings, Inc. (Nasdaq: RICK) today announced closing on the acquisition of the upscale Platinum Plus Gentlemen's Club in Allentown, PA, minutes away by car from the airport in Allentown and the casino in Bethlehem. The purchase price totaled $2.0 million, consisting of $1.5 million cash and $0.5 million seller financing at 7% for the club. The purchase price is in line with RCI's acquisition valuation target of 3-5x annualized adjusted EBITDA for a club. Separately, a long-term lease was signed for the property. Eric Langan, President and CEO of RCI Hospitality Holdings, Inc., commented: 'This is the sister club to the recently announced acquisition of Platinum West in South Carolina and the third club purchase since the recent launch of our 5-Year 'Back to Basics' Capital Allocation Plan.' 'Platinum Plus is a well-established business with a seasoned management team. The club adds to our six other locations in the Northeast states and should benefit from our marketing, purchasing and systems know-how.' Mr. Langan added that executive management of the two Platinum clubs will stay on to ensure a smooth transition and look for new club acquisitions. The 15,000 square foot Platinum Plus is located at 1251 Airport Road, Allentown, PA 18109. The club is open Monday through Saturday from 11:00 a.m. to 2:00 a.m. and Sunday from 4:00 p.m. to 2:00 a.m. Visit About RCI Hospitality Holdings, Inc. (Nasdaq: RICK) (X: @RCIHHinc) With more than 60 locations, RCI Hospitality Holdings, Inc., through its subsidiaries, is the country's leading company in adult nightclubs and sports bars-restaurants. See all our brands at 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, including, but not limited to, the risks and uncertainties associated with (i) operating and managing an adult entertainment or restaurant 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, and (vi) numerous other factors such as laws governing the operation of adult entertainment or restaurant businesses, competition and dependence on key personnel. For more detailed discussion of such factors and certain risks and uncertainties, see RCI's annual report on Form 10-K for the year ended September 30, 2024, as well as its other filings with the U.S. Securities and Exchange Commission. The Company has no obligation to update or revise the forward-looking statements to reflect the occurrence of future events or circumstances.
