CHICAGO — The parent company of Rick’s Cabaret has big plans for its recently purchased Chicago club — it plans on changing its name and beefing up its commanding market position.
RCI Hospitality Holdings Inc., the parent company of Rick’s Cabaret, plans on renaming VIP's Gentlemen's Club as a Rick’s Cabaret and positioning the club “as a premier establishment similar to the No. 1 Rick's location in New York City,” which attracts local, national and international guests.
The new Chicago Rick’s Cabaret also plans on opening three hours earlier, at 4 p.m., in the coming weeks and opening for lunch in early 2019.
"Chicago is perfect for the Rick's brand," said Eric Langan, RCI Hospitality’s CEO. "It is a major metro market and business hub, features leading teams in pro sports and is a top convention city. With its ability to generate $2 million annually, this location also fits perfectly with our goal of acquiring profitable, cash-flowing number-one locations."
RCI Hospitality operates 40 clubs in New York, Miami, Charlotte, Dallas/Ft. Worth, Houston, Minneapolis, St. Louis and other markets under brand names such as Rick's Cabaret, XTC, Club Onyx, Vivid Cabaret, Jaguars, Tootsie's Cabaret and Scarlett's Cabaret. It also operates sports bars and restaurants under the brand name Bombshells Restaurant & Bar.
RCI Hospitality purchased VIP's along with its real estate from entrepreneur Perry Mandera in September for $10.5 million. Langan disclosed that the sale of the venue closed today.
The 10,000-square-foot club is one of only three in Chicago and the only one with a full liquor license.
It has grandfathered use and has been one of the top venues of its kind in the Midwest since 1993. The club is near Chicago's Lincoln Park neighborhood and minutes away from the city's renowned North Michigan Avenue and Gold Coast.
