RCI Hospitality Holdings
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RCI Hospitality Holdings, Inc. (previously Rick's Cabaret International, Inc.), through its subsidiaries, operates strip clubs, nightclubs, topless gentlemen's clubs, adult entertainment websites and the military themed Bombshells restaurant and sports bar chain. RCI went public with an IPO in 1995 is listed on The NASDAQ Global Market under the symbol RICK.
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.jpg) Rick's Cabaret strip club in Minneapolis, 2021 | |
| Type | Public |
|---|---|
| Nasdaq: RICK | |
| Industry | Strip clubs, nightclubs, adult websites, American Restaurant chain |
| Founded | 1983 |
| Founder | Robert Watters, Eric Langan |
| Headquarters | Houston, Texas , United States |
Number of locations | 48 (2021) |
Area served | Texas, New York, Florida, Arizona, North Carolina, Minnesota, Pennsylvania, Illinois |
Key people | CEO Eric Langan, President Ed Anakar |
| Revenue | $181.06 million[1] |
Number of employees | 2,200+[2] |
| Website | rcihospitality |
2021 acquisitionsEdit
On July 26, 2021, RCI announced definitive agreements to acquire for $88.0 million 11 adult nightclubs, nine of which are controlled by club entrepreneur Troy Lowrie of Lakewood, Colorado; six related real estate properties; and associated intellectual property. The clubs generated approximately $40 million in revenue and $14 million in adjusted EBITDA in their fiscal year ended December 31, 2019. They expand RCI’s geographic footprint with five locations in Denver, Colorado; two near St. Louis, Missouri; and one each in Indianapolis, Indiana; Louisville, Kentucky; Raleigh, North Carolina; and Portland, Maine.[3]
HistoryEdit
The company was founded in 1983 by Robert Watters and is based in Houston, Texas. In 1998, the company merged with Taurus, Inc., which was controlled by Eric Langan, who eventually became the company's president and CEO in 1999. Langan acquired his first gentlemen's club in Texas at age 21 with $40,000 from the sale of his baseball card collection. Later, he acquired a controlling interest in RCI and became the CEO, following its merger with publicly traded Taurus, Inc., which owned the XTC Cabaret chain. Under Langan's direction, RCI has grown inside and outside of Texas, such as New York, Illinois, Florida, Arizona, Minnesota and others. RCI has also expanded the company into related businesses, such as sports bars/restaurants and nightclubs.
Eric Langan is a member of the Board of Directors for The Association of Club Executives (ACE), a national trade organization for the gentlemen's club industry.[4]
Expansion and developmentEdit
RCI operates over 35 strip clubs across the United States under the names Rick's Cabaret, Jaguars Club, Club Onyx, Tootsie's Cabaret, Scarlett's Cabaret, Temptations Cabaret, Downtown Cabaret, Foxy's Cabaret, Kappa Men's Club, Cabaret East, Silver City, The Seville Club, Vivid Cabaret, Hoops Cabaret and XTC Cabaret. Clubs services include full nudity, topless entertainment, lap dances, popular porn star entertainment, features, celebrity DJ's, sporting events, alcohol and tobacco. The focus of the Rick's Cabaret concept is an elegant experience with fine dining. Scarlett's Cabaret and Vivid concepts are “high energy” night club/gentlemen's club hybrid with state-of-the-art light and sound systems in a party atmosphere. XTC Cabaret and Jaguars Clubs offer a lively BYOB 18 plus concept for blue collar and college patrons. Club Onyx's concept is an urban hip hop culture, catering to professional African Americans and Tootsie's Cabaret is known for being the largest strip club inside the United States with 74,000 square feet of adult entertainment including Knockers Sports bar located inside the club.[5]
The nightclub & restaurant brands include Studio 80, an 80's dance music theme and concept, and Bombshells, an emerging military themed restaurant/sports bar chain currently operating 10 locations in Texas. RCI also operates ED Publications, Inc a media company serving the multi-billion-dollar adult club business with industry-related websites, magazines and trade shows. ED Publications also publishes the strip club trade publications Exotic Dancer and Store Erotica.
RCI is one of only two adult entertainment companies to be publicly traded on NASDAQ, and has been named on a Forbes magazine list of the 200 best companies.[6] RCI went public with an IPO in 1995. It has been profiled in The Wall Street Journal, Fortune, MarketWatch, Corporate Board Member, SmartMoney, The New York Daily News, USA Today as well as other publications.
Rick's Cabaret in New York City Steakhouse was listed in Zagat's New York Nightlife and included in the TONY 100 list of fine Manhattan dining establishments by Time Out New York.
Entertainment sites Gothamist.com,[7] Thrillist.com, Complex, Miami New Times,[8] Broward New Times, Southflorida.com, and Timeout.com have named clubs operating under RCI to their "Best Strip Club" lists.[9] RCI has also won multiple Awards from Ed Publications including 2019 Club Chain of the Year.[10]
Restaurant Business magazine named Bombshells Restaurant & Bar to its "The Future 50" list of fastest-growing concepts.[11]
ReferencesEdit
- ^ "Marketwatch Financials"
- ^ "Rick's Cabaret International, Inc. SEC Form 10-K for fiscal year ended September 30, 2019"
- ^ "RCI Announces Definitive Agreements to Purchase 11 Adult Nightclubs in Six States"
- ^ "Bloomberg Profile"
- ^ "Forbes how the Largest strip Club Grinds"
- ^ America's 200 Best Small Companies Of 2009
- ^ Gothamist The 7 Best Strip Clubs in NYC 2015 ”
- ^ Miami New Times Best Strip Club 2018”
- ^ [1]
- ^ RCI named Best Club Chain of the year 2019
- ^ "The Future 50 2018"