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RCI Announces Definitive Agreements to Purchase 11 Adult Nightclubs in Six States
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RCI Hospitality To Buy 11 Adult Nightclubs For $88 0 Mln
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Company s 52-week low was at $8.50
Price action over last quarter: Up 21.60%
Company Overview
RCI Hospitality Holdings Inc through its subsidiaries owns and operates establishments that offer live adult entertainment, restaurant, and or bar operations. It also owns and operates communication company serving the adult nightclubs industry. The company s operating business segments are Nightclubs, Bombshells, and Other. It operates nightclubs through the following brands Rick s Cabaret, Vivid Cabaret, Tootsie s Cabaret, Club Onyx, and Jaguars Club. In the restaurants segment, the company is building a chain of Bombshells Restaurants and Sports Bars in Dallas, Austin, and Houston, Texas. It derives majority revenue from the Nightclubs segment that engages in the sale of alcoholic beverages, food, and merchandise items; service in the form of cover charge, dance fees, and room rentals.