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Rick's Cabaret Nears Completion of New York
City Club, with Grand Opening Set for Mid-September
Business Wire, June 21, 2005
NEW YORK -- 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 firstname.lastname@example.org.
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 email@example.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-QSB and annual
report on Form 10-KSB, which are available at the company's
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