June 21, 2005 12:00am
Rick's NYC Grand Opening Mid-Sept
Source: Rick's Cabaret International, Inc.
by: Company Press Release
(NEW YORK, NY) -- Rick's Cabaret International, Inc. [NASDAQ: Rick], which operates gentlemen's clubs in major cities, said today it is nearing completion of extensive remodeling of the building that will house its plush new venue in New York City. The new Rick's Cabaret-NYC (at 50 West 33rd Street) is expected to open for business in August, with a grand opening scheduled for mid-September.
"The new Rick's Cabaret will be without doubt the ultimate cabaret in midtown Manhattan," said Eric Langan, CEO of the company. "We stripped the building to its bare walls and have constructed an amazing three-story complex that includes a luxurious open bar and stage setting on the first floor, a first class restaurant that will be open 'til 4 a.m. on the second floor, and a unique VIP suite on the third. We'll be finished in about eight weeks and Ed Anakar, our general manager, is already conducting interviews. Prospective dancers, managers and other candidates can contact him at 646-326-6049 or Hiring@Ricks.com.
The opening is subject to receiving final permits from the City of New York, Mr. Langan said, noting that the permitting process has gone smoothly up to now.
Rick's Cabaret purchased the former Paradise Club near Madison Square Garden, Penn Station and the Empire State Building in January. When renovation is completed, Rick's Cabaret-NYC will become the company's flagship location. Presently Rick's Cabaret operates clubs in Houston, Minneapolis, Charlotte, New Orleans and other cities.
About Rick's Cabaret
Rick's Cabaret International, Inc. (NASDAQ: Rick, Ricks.com) owns and operates upscale adult nightclubs serving primarily businessmen and professionals that offer live adult entertainment, restaurant and bar operations. The company owns, operates or licenses adult nightclubs in New York City, New Orleans, Houston, Minneapolis and other cities under the names "Rick's Cabaret," "XTC," "Club Onyx" and "Hummers." No sexual contact is permitted at any of these locations. Rick's Cabaret also owns an adult Internet membership Web site, CouplesTouch.com, and a network of nine online auction sites for adult products under the flagship URL NaughtyBids.com. Rick's Cabaret common stock is traded on the NASDAQ SmallCap market under the symbol Rick. For further information contact IR@Ricks.com.
This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934 that involves significant risks and uncertainties, and is subject to the safe harbors created by this section. Important factors that could cause actual results for Rick's Cabaret to differ materially from those indicated in this press release include the risks and uncertainties as to the future operational and financial results of our Web sites, conditions relevant to real estate transactions, the future operational performance of our partners, the laws governing the operation of adult entertainment businesses, competitive and economic factors, dependence on key personnel and the ability to manage operations. Rick's Cabaret has no obligation to update or revise the forward-looking statements to reflect the occurrence of future events or circumstances. Please refer to the documents Rick's Cabaret files from time to time with the Securities and Exchange Commission, in particular the most recent quarterly reports on Form 10-USB and annual report on Form 10-KSB, which are available at the company's website, Ricks.com.
Contact for further information: Allan Priaulx, 212-338-0050, IR@Ricks.com