Latest news with #gentlemensclub
Yahoo
12 hours ago
- 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@
BBC News
07-06-2025
- Business
- BBC News
The Bradford Club closes after more than 250 years
It was in the 1860s that the Bradford Club opened in a city that teemed with commerce and industry. This week this venerable institution, which counts Sir Titus Salt and Sir Ken Morrison among its past members, closed its doors for the final decision, taking after patronage declined since the demise of the Bradford wool trade, brought the curtain down on one of the last Victorian gentleman's clubs to still exist in a provincial the closure of the nearby Wool Exchange in the 1970s, the dining room would throng with mill owners and managers on weekdays, while magistrates and solicitors debated in corners. Business deals were sealed over a game of club itself was founded in 1761 before settling in its final premises on Piece Hall Yard. Fixtures and fittings have been stripped out ahead of a new chapter in the Grade II-listed building's history. The BBC bumped into trustee Steven Howard on Piece Hall Yard as final preparations for departure were being made."It's a great shame," he said."Sadly, after many, many years of being here, we're having to close because what we do here is no longer fashionable."Mr Howard added: "We were still getting by as of Covid, but people's habits changed and not temporarily."Many of our overheads were hugely affected by the war in Ukraine."For instance, our power costs went through the roof."Our model just became redundant really." The membership had become elderly and many were no longer living in Bradford. The number of professionals working in the city centre had declined since law and accountancy firms left for of the furniture has been donated to a Halifax-based charity that will send chairs and tables to schools in the building has been bought by the owners of the adjacent City Vaults pub and will become a hospitality venue. Si Cunningham is the chair of Bradford Civic Society as well as the City Centre Heritage Action said: "I think there's a couple of things that have made the site particularly special. "The first one and perhaps the most important one is the building itself. "It's a very architecturally striking building. "It's a bit of a hidden gem for the city as well, because it's located down quite a quiet street in the city centre and has really strong links to Lockwood and Mawson, who are very well-known Bradford architects. "So the building itself helps to tell the story of Bradford, particularly those links to the industry."And I think as far as the club is concerned, that's the part of the city's heritage that probably has quite a lot of fascinating stories and a lot of links to some of the big names from Bradford's wool industry who would have been members there over the years as well." Dr David Pendleton is the current editor of the Bradford Antiquarian, which is the journal of the Bradford Historical and Antiquarian often visited the Bradford Club with the society. "It'll be sorely missed, but in some respects, I'm astonished it's got this far," Dr Pendleton Leeds Club, which had a similar history, closed its doors in 2017. One of the few clubs still going in Yorkshire is the Harrogate Club, which has been in existence since Bradford once had the most private members' clubs outside of London, with five Pendleton said: "There were some very rich members whose names have disappeared from history. "But people like Sir Titus Salt, and the father of the composer Frederick Delius, who owned a big warehouse in Little Germany."Names that we still remember to this day were members of that club and undoubtedly it would have had a lot of famous visitors as well over the years." But as the years went on, the club had to look to other ways of generating income. It was used as a filming location for the 2013 BBC drama The Great Train Robbery, as well as The ABC Murders and recent production far as Dr Pendleton is concerned, he is glad it is being kept in local hands."It's pretty good news that the people from the City Vaults have bought the building because they've got a decent track record of reviving, and doing a good job actually, of some of the city centre buildings," he Mr Howard is still reticent about whether the club's history will be kept alive."I'm not sure how much of it can be preserved if we're not here," he said."We were more interested in the club continuing, but it's not been possible."Times have changed." Listen to highlights from West Yorkshire on BBC Sounds, catch up with the latest episode of Look North.
BBC News
12-05-2025
- Politics
- BBC News
Lincoln gentleman's club rules criticised as 'sexist'
A gentleman's club, which voted to continue to prohibit women from becoming members, has been called "sexist" by a feminist can only enter the Castle Hill Club in Lincoln as the guest of a man who is a Watson, secretary at the club which opened in 1922, said the rule "had always been the same" and "for the rights or wrongs of it, they wanted to leave it that way."Ellie Henshaw, 19, from the University of Lincoln's Feminist Society, said the decision was "frustrating" and "its not the default anymore that women should be excluded". All 560 members were asked to vote on whether women should be allowed to become vote closed on 7 May.100 members voted to keep the rule the same. 78 voted for Watson said the vote was "democratic" and "all members had different views on it".He said he believed women who visited the club as guests of male members were "happy"."They keep coming. They're obviously comfortable in how the club is set up."Mr Watson said the venue was historical."A lot of it has to do with the history of the club and about not wanting too much change to keep the club running as it has done since 1922." Ms Henshaw said "times have changed" and women should be allowed to join."I'm a history student. I think denying progress in the name of history is a very flawed argument," she Moore, 18, from the society, said she understood men's clubs were "historic"."But we live in an age where everyone is equal and excluding people is wrong", she said."I would call this sexist. I don't see a reason why women have been excluded." According to Mr Watson, the Grade II listed building dates back to the middle ages and used to operate as a pub called the Black 1922, as the pub was struggling to stay afloat, he said pub regulars took over the establishment and made it a gentleman's club. Eventually, the members bought the pub together and it became the free house run by volunteers which it remains."When I was first there, there were 80 members. There's 560 now," Mr Watson to highlights from Lincolnshire on BBC Sounds, watch the latest episode of Look North or tell us about a story you think we should be covering here.
