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RCI Hospitality Holdings, Inc. reports company developments for an operating business built around adult nightclubs and Bombshells sports bars-restaurants. Updates commonly cover quarterly and annual results, segment sales, same-store performance, club acquisitions and openings, location closures or reformatting, and revenue mix across service, alcoholic beverages, food, merchandise, and other categories.
Recurring releases also address capital allocation, including cash dividends and share repurchase authorizations, as well as SEC report timing, Nasdaq compliance notices, and conference-call materials tied to Form 10-K and Form 10-Q filings. The company’s disclosures distinguish nightclub operations from the Bombshells restaurant and sports-bar concept and may exclude non-core operations from preliminary sales releases.
RCI Hospitality Holdings reported $69.2 million in sales for its Nightclubs and Bombshells restaurants for the fiscal first quarter ended December 31, 2022, marking a 13.3% year-over-year increase. Nightclub sales were strong, benefiting from acquisitions and increased VIP spending, while Bombshells faced challenging comparisons. The average unit volume for Bombshells reached $1.2 million, up 5.2% compared to pre-COVID levels. Full financial results are anticipated by February 9.
RCI Hospitality Holdings, Inc. (Nasdaq: RICK) announced that CEO Eric Langan and CFO Bradley Chhay will participate in the Granite Research Virtual Conference on January 11 and 12, 2023, starting at 10 AM ET. They will be available for one-on-one and group meetings by appointment. Interested parties can schedule meetings by contacting Rob McGuire or Gary Fishman via email. RCI Hospitality operates more than 60 adult nightclubs and sports bars/restaurants in the U.S.
RCI Hospitality Holdings, Inc. (Nasdaq: RICK) celebrates the grand opening of its new Jaguars Club in San Antonio, TX, scheduled from 9 PM to 5 AM. This 10,000 square-foot BYOB adult nightclub, formerly Rick's Cabaret, features a complete renovation with advanced sound and lighting systems. Regional Manager Wayne Fenlon emphasized the club's aim to provide top-tier entertainment and service. The venue, part of the nine-unit Jaguars Club brand, is conveniently located near the San Antonio International Airport and downtown attractions.
RCI Hospitality Holdings, Inc. (Nasdaq: RICK) has acquired a food hall with a full-service bar, brewery, and video game arcade in Greenwood Village, CO, for $5.2 million. This includes $1.875 million in cash and a 5-year, 6.67% bank financing note. The facility spans 12,500 square feet and will offer diverse food options. Additionally, RCI plans to introduce its Bombshells kitchen and craft beers, enhancing brand differentiation in Colorado. This acquisition aligns with RCI's overall expansion strategy in the Denver area.
RCI Hospitality Holdings, Inc. (Nasdaq: RICK) announced the acquisition of an adult nightclub's assets in Fort Worth, TX, for $2.4 million in cash. The deal includes a 2.6-acre property featuring an 8,800 square foot club and a 7,400 square foot building leased to an existing tenant. RCI plans to remodel the location into a PT's Showclub by summer, expanding its presence in Fort Worth. This follows their acquisition of the PT's brand, enhancing their portfolio of adult entertainment venues across the country.
RCI Hospitality Holdings reported strong results for Q4 2022 and FY 2022, showing total revenues of $71.4M (up 29.9% YoY) and net income of $10.6M (up 361.4%). EPS increased to $1.15 (up 342.3%), while non-GAAP EPS fell 8.2% to $1.45. Free cash flow reached $14.5M (up 71.6%), with operating income at $22.5M. The company repurchased 1,500 shares in Q1 FY23 at an average price of $65.02. Management anticipates continued growth driven by recent acquisitions and expansion plans for Bombshells and new ventures.
RCI Hospitality Holdings, Inc. (Nasdaq: RICK) announced the signing of definitive agreements to acquire two Baby Dolls and three Chicas Locas adult nightclubs in the Dallas-Fort Worth and Houston areas, totaling $66.5 million. The transaction includes $25 million in cash, $25.5 million in seller financing, and 200,000 restricted shares. RCI projects an EBITDA contribution of approximately $11 million in the first year, potentially growing to $14-16 million annually post-remodeling. The acquisition is RCI's second largest and expected to close in January, pending necessary approvals.
RCI Hospitality Holdings, Inc. (Nasdaq: RICK) will release its financial results for the fiscal 2022 fourth quarter and year ended September 30, 2022, after market close on December 14, 2022. A conference call will be held on Twitter Spaces at 4:30 PM ET, featuring RCI's CEO Eric Langan, CFO Bradley Chhay, and EVP Travis Reese. Investors are invited to meet RCI's management at Rick's Cabaret New York at 7:00 PM ET on the same day. For details, investors can RSVP via email.
RCI Hospitality Holdings, Inc. (Nasdaq: RICK) has finalized the acquisition of a 30,000 square-foot building in Central City, CO, for $2.4 million. The company plans to establish a Rick's Cabaret Steakhouse & Casino, featuring fine dining and entertainment, alongside 175 slot machines and various table games. This location is strategically significant as Central City is one of only three cities in Colorado where casino gambling is permitted. The gaming industry here generated over $80 million in adjusted gross proceeds from more than $1 billion wagered in the past year.
RCI Hospitality Holdings, Inc. (Nasdaq: RICK) announced that CFO Bradley Chhay will participate in Water Tower Research's "Fireside Chat" video series. The chat will cover RCI's two core businesses: adult nightclubs and Bombshells Restaurant & Bar chain, emphasizing free cash flow growth and capital allocation strategies. The video will be accessible for investors today at 1 PM ET. Mr. Chhay has been with RCI since 2015 and became CFO in 2020, significantly contributing to M&A due diligence.