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) 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.
RCI Hospitality Holdings, Inc. (Nasdaq: RICK) reported $70.0 million in sales for its Nightclubs and Bombshells restaurants for the fiscal fourth quarter ending September 30, 2022, a 28.8% year-over-year increase. Fourth quarter results benefited from same-store growth and acquisitions, although Bombshells experienced a 3.6% decline. RCI repurchased 54,473 shares for $3.0 million in 4Q22, concluding the fiscal year with approximately $35.6 million in cash. The company anticipates strong performance in 1Q23 as sales normalize.
RCI Hospitality Holdings, Inc. (Nasdaq: RICK) announced that CEO Eric Langan and CFO Bradley Chhay will participate in the Granite Research Virtual Conference on October 12-13, 2022, starting at 10 AM ET each day. They will hold one-on-one and small group meetings by appointment.
Granite Research focuses on providing investment research on undervalued small and microcap companies for institutional investors. RCI operates the leading adult nightclubs and sports bars across major U.S. cities with over 60 units.
FAQ
What is the current stock price of Rci Hospitality (RICK)?
What is the market cap of Rci Hospitality (RICK)?
