Rick’s Cabaret International, Inc. to Complete Acquisition of New Gentlemen’s Club Near Dallas-Ft. Worth Airport That Will Open by January 15, 2011
Rick’s Cabaret International, Inc. (NASDAQ: RICK), the nation’s premier chain of upscale gentlemen’s clubs, said today it will complete the acquisition of a new gentlemen’s club on the freeway near the busy Dallas-Ft. Worth International Airport before December 31, 2010.
“Special use permits have been issued that enable us to operate an adult nightclub at this unique location near the world’s seventh busiest airport,” said Eric Langan, President and CEO of Rick’s Cabaret. “We are awaiting issuance of a mixed beverage permit by the Texas Alcoholic Beverage Commission. We plan to open the location on January 15th in time for Super Bowl. All construction is complete and the place looks great.”
“We anticipate closing the transaction before December 31, 2010 and the closing is not contingent upon issuance of TABC permits”
The company had anticipated closing the transaction by September 30; however construction and permitting delays postponed the closing. The certificate to operate a sexually oriented business has now been issued. “We anticipate closing the transaction before December 31,2010 and the closing is not contingent upon issuance of TABC permits,” Mr. Langan said.
The new 10,000-square foot club is on the Airport Freeway (Highway 183) and was built and furnished to Rick’s Cabaret specifications. Rick’s currently operates six clubs in the Dallas-Ft. Worth Metroplex and 21 clubs nationwide.
In terms of passenger traffic, the Airports Council International says DFW is the seventh busiest airport in the world, with more than 5.7 million passengers passing through it in 2008.
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