Welcome to our dedicated page for Rci Hospitality news (Ticker: RICK), a resource for investors and traders seeking the latest updates and insights on Rci Hospitality stock.
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, 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.
RCI Hospitality Holdings, Inc. (Nasdaq: RICK) has declared a $0.05 quarterly cash dividend for the fiscal 2023 first quarter, ending December 31, 2022. This dividend is payable on December 29, 2022, to shareholders on record as of December 15, 2022, with an ex-dividend date of December 14, 2022. This marks the company's 28th consecutive quarterly cash dividend, showcasing its commitment to returning value to shareholders.
RCI Hospitality Holdings, Inc. (Nasdaq: RICK) announced plans to file its 10-K and report financial results for fiscal 2022's fourth quarter ending September 30, 2022. This will take place after market close on December 14, 2022, followed by a conference call on Twitter Spaces. Additionally, the company will host a 'Meet Management' event at Rick's Cabaret New York on the same day, with early RSVP options available for investors.
RCI Hospitality Holdings, Inc. (Nasdaq: RICK) announced that all 12 Bombshells Restaurant & Bar locations in Texas will offer free entrees to veterans on Veterans Day, November 11, 2022. Active servicemembers and their families will receive a 20% discount on all menu items, excluding alcoholic beverages. The company emphasizes its commitment to honoring veterans, supported by a social media campaign. Bombshells, known for its military theme, has eight locations in Houston, two in Dallas, and others in Austin and San Antonio, with plans for further expansion.
On October 27, 2022, RCI Hospitality Holdings (Nasdaq: RICK) announced the acquisition of Heartbreakers Gentlemen's Club and its real estate for $4 million in cash and $5 million financed over 15 years at a 6% interest rate. Established in 1986, Heartbreakers is a leading adult entertainment venue in Galveston, Texas. This acquisition marks RCI's first of Fiscal 2023, expanding its portfolio to 53 clubs. RCI's President, Eric Langan, emphasized the strategic fit with its existing brands, while VP Dean Reardon highlighted Heartbreakers' loyal customer base and energetic atmosphere.