Rick’s Cabaret International, Inc., (NASDAQ: RICK), the nation’s
premier operator of upscale gentlemen’s clubs, said today revenues at
its adult nightclubs in July were $6.5 million, a 20 percent increase
over the July 2008 revenues of $5.4 million. Same club sales for
locations open more than a year increased 5.26 percent over the previous
July.
“The revenue report for July indicates that our key clubs are doing very
well in this difficult economic period,” said Eric Langan,
president and CEO of Rick’s Cabaret. “We had positive growth in key
markets such as New York, Miami, Minneapolis and San Antonio. While we
still face challenges in several markets we are addressing them
aggressively. “
Rick’s Cabaret/New York City and Tootsie’s Cabaret had
very strong July revenues, with increases of more than seven percent
each over the previous July. Sales at the new Club Onyx in
Philadelphia were 65 percent above the previous July, when the location
was operated as a Rick’s Cabaret.
Mr. Langan said he would discuss the revenue results in more detail
during the company’s third quarter earnings conference call on Wednesday
August 12th at 4:30 pm ET. The call is being webcast by Vcall
and can be accessed at the Rick’s Cabaret website, ricks.com or www.InvestorCalendar.com.
The toll free live participant dial-in number is 877-407-8033;
international callers should dial 201-689-8033. The toll free
replay number is 877-660-6853 (international callers dial 201-612-7415)
and the call will be available until when August 19, 2009. Please enter
the number 286 when asked for the account, and then conference ID
number 329965.
The conference call will be followed by a Due Diligence Ball at
Rick’s Cabaret/New York City, 50 West 33rd Street between
Fifth Avenue and Broadway. Those wishing to attend can RSVP to ir@ricks.com.
About Rick’s Cabaret: Rick’s Cabaret International, Inc. (NASDAQ:
RICK) is home to upscale adult nightclubs serving primarily businessmen
and professionals that offer live entertainment, dining and bar
operations. Nightclubs in New York City, Miami, Philadelphia, New
Orleans, Charlotte, Dallas, Houston, Minneapolis and other cities
operate under the names "Rick's Cabaret," "XTC," “Club Onyx” and
“Tootsie’s Cabaret”. Sexual contact is not permitted at these locations.
Rick’s Cabaret also operates a media division, ED Publications, and owns
the adult Internet membership Website couplestouch.com as well as a
network of online adult auction sites under the flagship URL
naughtybids.com. Rick’s Cabaret common stock is traded on NASDAQ under
the symbol RICK. For further information contact ir@ricks.com.
Forward-looking Statements: This document contains
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 in this document, including the risks
and uncertainties associated with operating and managing an adult
business, the business climates in cities where it operates, the success
or lack thereof in launching and building the company’s businesses,
risks and uncertainties related to the operational and financial results
of our Web sites, conditions relevant to real estate transactions, and
numerous other factors such as laws governing the operation of adult
entertainment businesses, competition and dependence on key personnel.
Rick's has no obligation to update or revise the forward-looking
statements to reflect the occurrence of future events or circumstances.
For further information visit ricks.com.
Rick’s Cabaret International, Inc.
Allan Priaulx,
212-338-0050
ir@ricks.com
