Rick’s Cabaret Reports 3rd Q Nightclub Sales Up

Tod Hunter
HOUSTON — Gentlemen's club operator Rick’s Cabaret International Inc. reported that nightclub sales for its third quarter ending June 30 totaled $15.89 million, a 92.1 percent increase over 2007. Individual club sales were up 8.43 percent over 2007.

“We are very pleased with the quarterly nightclub sales results, particularly with the same store comparison gain,” said Eric Langan, president and CEO of Rick’s Cabaret.

Langan said the company’s New York City club continued its strong year-over-year growth, and new clubs in Dallas and Philadelphia have begun contributing revenues. Tootsie’s Cabaret in Miami, Langan said, continued to exceed initial expectations.

The company will report its full results for the third quarter, including its Internet and media divisions, in August.

Rick’s Cabaret International Inc. owns, operates or licenses adult nightclubs in New York City, New Orleans, Charlotte, Dallas, Houston, Philadelphia, Minneapolis and other cities under the names "Rick's Cabaret," "XTC" and “Club Onyx.” Rick’s Cabaret common stock is traded on NASDAQ under the symbol RICK.