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. (RICK) operates a diversified portfolio of upscale gentlemen's clubs, themed restaurants, and digital engagement platforms. This news hub provides investors and industry observers with essential updates on corporate developments, strategic acquisitions, and operational milestones across its Nightclubs and Bombshells segments.
Access verified press releases and financial announcements covering earnings reports, venue expansions, and digital initiatives like Favoritely.com. Our curated collection serves as a reliable resource for tracking RICK's market consolidation strategy and regulatory developments in the adult entertainment hospitality sector.
Key updates include management changes, share repurchase programs, and operational enhancements across Rick's Cabaret, Club Onyx, and other branded locations. Content spans liquor license approvals, entertainment partnerships, and corporate governance matters – all critical for assessing the company's position in a high-barrier industry.
Bookmark this page for streamlined access to RICK's latest business developments. Check regularly for updates on venue acquisitions, same-store performance trends, and technological integrations that drive the company's unique blend of adult entertainment and hospitality services.
RCI Hospitality Holdings, Inc. (Nasdaq: RICK) reported a strong performance for fiscal 2Q23, with $70.8 million in sales from Nightclubs and Bombshells restaurants, reflecting a 12.3% year-over-year increase. Nightclubs contributed $56.6 million, marking an 18.6% rise, while Bombshells saw $14.3 million in sales, down 7.1% YoY. Organic growth, strategic acquisitions, and improved sales at pre-FY22 clubs supported nightclub revenue. However, Bombshells faced challenges, including tough comparisons due to prior strong performance and local conditions affecting specific venues. Future financial results will be detailed on or around May 10, 2023.
RCI Hospitality Holdings, Inc. (Nasdaq: RICK) has completed the acquisition of two Baby Dolls and three Chicas Locas adult nightclubs, along with their real estate, in the Dallas-Fort Worth and Houston markets. This $66.5 million transaction marks RCI's second largest acquisition and one of the largest in the adult nightclub industry. The payment structure includes $25 million in cash, $25.5 million in seller financing notes, and 200,000 shares of common stock valued at $16 million. The acquired clubs are expected to generate approximately $11 million in adjusted EBITDA in year one, potentially rising to $14-16 million after renovations.
RCI Hospitality Holdings, Inc. (Nasdaq: RICK) has announced a 20% increase in its quarterly cash dividend, raising it from $0.05 to $0.06 per share. This increase marks the company’s 29th consecutive quarterly dividend. The dividend for the fiscal 2023 second quarter, ending on March 31, 2023, is set to be paid on March 29, 2023, to shareholders recorded by March 15, 2023. The ex-dividend date will be March 14, 2023, underscoring RCI's commitment to returning value to its shareholders.
FAQ
What is the current stock price of Rci Hospitality (RICK)?
What is the market cap of Rci Hospitality (RICK)?
