Quick Index
 Adult Industry News
Search AINews Database
Type Keyword or Phrase Here
Pornography feminists unshackle their desires and celebrate their sexuality in the patriarchal world Elementary Public Relations Consulting and Press Release Service
   
 

Front Page
Film News
Media News
Business News
Clubs & Appearances
Law & Politics
Internet & Mobile News
Lifestyles Arts Health Charity
Letters to the Editor
Columns
Movie Spotlight Reviews
Interviews
Pornstar Pages
AINews Staff
Ad Rates
PR 101: Press Release Service

Caliente Nudist Vacations!

Kayden Kross at Twistys

November 27, 2000 05:04am
Rick's Cabaret International Completes Acquisition of Third Premier Gentleman's Club in Houston
Source: Rick's Cabaret International Inc.
by: Company Press Release

(HOUSTON, TX) -- Rick's Cabaret International Inc. (Nasdaq:RICK - news) today announced it has completed the acquisition of the Chesapeake Bay Cabaret, an upscale gentlemen's club located just minutes from the NASA Space Center and Houston's Hobby Airport.

The transaction was completed once all licenses and permits had been granted and issued to Rick's. Rick's management had been operating the club under an agreement signed in May which granted Rick's the right to manage the business until the completion of the acquisition.

Eric Langan, president and CEO, stated, ``although we have been managing the club since May, we now own the assets and have title to the business. We are extremely pleased that we have been able to operate the new location at a profit during the latest fiscal quarter and anticipate continued earnings from this location.''

Mr. Langan added, ``With the completion of the acquisition of the new location on Houston's south side, we will be able to greater leverage our advertising dollars as well as allow for more cost efficient utilization of management given its proximity to our two other premier Houston locations.''

The purchase price called for the issuance of 160,000 restricted shares of Rick's common stock to WMF Investments Inc. and a 10-year lease agreement between Rick's and WMF Investments. The lease grants Rick's an additional 10-year option for the property and the building.

Rick's Cabaret International Inc. opened its first ``Rick's Cabaret'' in Houston in 1983 and went public with its IPO in 1995, making Rick's the world's first publicly traded topless entertainment business. Rick's owns and operates premier adult entertainment Internet Web sites, such as www.DancerDorm.com and www.xxxpassword.com. Rick's also owns and/or operates four Rick's Cabaret locations, three of which are in Houston and one of which is in Minneapolis. Rick's also owns and operates two XTC Cabarets, which are located in San Antonio and Austin, through its 93% owned subsidiary, Taurus Entertainment Companies Inc. Rick's and its subsidiaries own all the real estate properties where their cabarets and Internet production studio are located except its south Houston location, which is leased.

Other companies in the adult entertainment industry include New Frontier Media Inc., Playboy Enterprises Inc. and Private Media Group

This press release contains forward-looking statements that involve a number of risks and uncertainties. Important factors that could cause Rick's actual results to differ materially from those indicated in this press release include the risks and uncertainties as to whether the definitive documentation will ultimately be executed, the future operational and financial results of the newly acquired Web site, the future operational strength of Voice Media, the laws governing the operation of adult entertainment businesses, competitive factors, dependence on key personnel, and the ability to manage operations. Rick's has no obligation to update or revise the forward-looking statements to reflect the occurrence of future events or circumstances.

For further information, contact Eric Langan, President of Rick's, at 281/820-1181, e-mail eric@ricks.com, or Larry Howell, The Howell Group, at 214/368-1592, e-mail howgroup@iglobal.net

Pornography feminists unshackle their desires and celebrate their sexuality in the patriarchal world


Related Sites - WARNING! Graphic Content

RavenBay02.3gp

Porn for GEEKS! Meet me & my friends!

Top Stories

Patriots Win = Superbowl BJs!

Cindy Starfall Interview

Kiki Daire at Christie's

About Emma Hix

Royal Empire Productions

MWA: 01/09/17

Golden Age Star Appearances

Spotlight Studios Adult Industry Party

Jenevieve Hexxx Antics

AEE 2017: A Resounding Success

Bill Margold Memorial Fund

Thoughts About Bill Margold

Take Care and Care Take

Bill Margold Memorial (UPDATED)

Bill Margold Died

Time with Tanya Tate

New Model Leila Sugarcookie

TTS Discount at LV Office

Official APAG Statement

Jelena Jensen Girlsway GOTY

MWA: 01/06/17

Vivid's Sex Tape Wish List

Darling Running for Assembly

Valentina Nappi Available in 2017

­­­­Melania Trump Impersonator at Little Darlings

Rachel Raxxx CumBang

Inked Angels Now Podcasts

Brothel Seeks Britney Spears Lookalike

Rodney Moore Covers Glen Campbell Song

Vicky Vette AVN Nom

Osa Lovely Signs Skyn

Vote Porno Dan

I Love 80s Porn Contest

Goodbye 2016, Hello 2017!

MWA: 12/31/16

VNALive Marathon

Genuine Sin VR

MWA: 12/20/16

More
Stories From

Business News

Spotlight Studios Adult Industry Party

Valentina Nappi Available in 2017

Osa Lovely Signs Skyn

Genuine Sin VR

Brothel Seeks Britney Spears Lookalike

Winter Wonderland at XBIZ

Press Release Service

Nina Kayy with Skyn

Coxxx Models Licensed in CA

Bukkake Participants Needed

Lolly Ink Self Booking

XBIZ 2017 Show

Allison Kilgore Returns

Tera Patrick Available

Skyler Nicole Available

Angela White US Resident

Valentina Nappi Available

Prague for TES

Invitation to the Venus

Business News Section Index

NightMoves Call for Sponsors

Dava Foxx Self-Booking

Kahlista Stonem Available

The Hedge Against Exploitation

Toy with Raquel Sultra

XBIZ Berlin Schedule

Savana Styles Available

ChargeSavvy at ED Show

Driller Signs The Rub

NightMoves Calls for Sponsors

Casting Call

ABK Beta Users Free

OC Signs Darcie Dolce

Brittany is Back

Dollie Darko with 101 Modeling

Mercy West Available

The V Agency Joins LATATA

Sin Claire with Foxxx

New Smash VP Wyatt Case

Epoch Club Special Event

Ink Inks OC, The Rub

XBIZ 2016 Announced

RAW Signs Sasha Bradshaw

Direct Reps Harper

SashaBrabuster's XXX Comeback

AJ Applegate Available

Freedom Acres Open House

Global Adult Industry Association

Tod Hunter Press Releases

Cumisha Amado at Sagebrush

J.Lo Doc Johnson Offer

AINews New Look

     
Copyright © 1998 - 2017 Adult Industry News (AINews.com)
All materials constituting text, articles, press releases, stories, columns, photographs, graphics, and code on the AINews.com domain are protected by copyright, and either owned by Adult Industry News (AINews.com), or reproduced with permission from other copyright owners. It may be downloaded and printed for personal reference, but not otherwise copied, altered in any way, or transmitted to others, without the written permission of Adult Industry News (AINews.com).