Houston -- (July5,2004)
-- Club Onyx, a new gentlemen's club operated by Rick's Cabaret
International, Inc. [NASDAQ: RICK],
in the Galleria section of Houston that caters to urban businessmen
and professional athletes is off to a spectacular start, according
to its owners.
"Just three weeks after we opened Club Onyx we are attracting an A-list
clientele of gentlemen from every sport and every profession," said
Eric Langan, CEO of Rick's Cabaret, a publicly traded company that
operates upscale clubs featuring adult entertainment. "The popularity
of our VIP room is particularly strong, and in general our revenues
at Club Onyx have exceeded all of our expectations and are rivaling
the business we did during Super Bowl week in February and we should
have a phenomenal week with the 75th Major League Baseball All-Star
Game coming up July 13th at Minute Maid Park in Houston," he added.
Club Onyx opened June 10th at the newly remodeled 12,800 square foot
site of the original Rick's Cabaret nightclub after the company's
management decided to take its highly successful upscale gentlemen's
format into one of the fastest growing but underserved demographic
segments - the universe of highly successful and increasingly affluent
urban males. The club is located at 3113 Bering Drive at Richmond.
Mr. Langan said the club is succeeding in reaching its targeted audience
of urban executives and professionals, business travelers, pro athletes
and people who are visiting Houston for ball games, conventions and
other activities. The club has also begun building a substantial mid-day
business as well, helped by a free lunch that includes prime rib of
beef on Wednesdays.
Since the 1980s Rick's Cabarets have enjoyed a reputation for offering
high quality entertainment for gentlemen at upscale nightclubs, featuring
beautiful women and fine restaurant service. Anna Nicole Smith met
her wealthy husband while dancing at Rick's Cabaret in Houston. Thirteen
performers from Rick's have become Penthouse Pets (three have been
named Pet of the Year) while three have become Playboy Playmates.
Rick's Cabaret International, Inc. went public in 1995. Mr. Langan
joined the company in 1998 and has led it since 1999. He has steadily
expanded Rick's operations, adding new club formats and growing revenues
and profit.
About
Rick's Cabaret
Rick's Cabaret International, Inc. (www.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 and operates seven adult nightclubs
under the name "Rick's Cabaret" and "XTC" in Houston, Austin and San
Antonio, Texas, and Minneapolis, Minnesota, licenses Rick's Cabaret
in New Orleans, and owns an adult-themed club called "Encounters"
that serves the couples or "swingers'" market and a sports bar called
the "Hummers," both in Houston. No sexual contact is permitted at
any of these locations. Rick's Cabaret also owns two adult Internet
membership Web sites at www.couplestouch.com
and www.xxxpassword.com
that contain content acquired from wholesalers, and a network of nine
online auction sites under the flagship site www.naughtybids.com.
These highly automated sites provide a sales platform for adult products
and services in an auction format and generate revenues through transactional
service fees. Rick's Cabaret common stock is traded on the NASDAQ
Small Cap market under the symbol RICK.
For further information contact ir@ricks.com.
Forward-Looking
Statements:
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,
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.
Media/Investor
Contact:
Allan Priaulx
212-338-0050
ir@ricks.com
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