Founded in 1983, Rick’s Cabaret pioneered in the creation of elegant gentlemen’s clubs featuring beautiful topless entertainers and high quality
restaurant service. Rick’s Cabaret went public through an IPO in 1995 and is listed on The
NASDAQ Global Market under the symbol RICK.
Options in RICK are traded on the Chicago Board of Options Exchange (CBOE). There are currently several dozen nightclubs nationwide
and several restaurants in the Rick’s Cabaret group.
Investors are attracted by strong cash flow, consistent profitability, effective
internal financial controls developed by management,
local laws that create high barriers to entry by potential competitors, and execution of a
roll-up strategy in the consolidating gentlemen’s club industry.
In recent years the Company has acquired nightclubs in major markets, including New York City, Miami, Philadelphia, Dallas-Ft. Worth and Las Vegas.
The Company has built powerful brand name awareness for its upscale environment and enjoyable adult entertainment.
Anna Nicole Smith met her oil billionaire husband while dancing at Rick’s Cabaret and many of our performers have become
Penthouse Pets and Playboy Playmates.
President & CEO Eric Langan joined Rick’s Cabaret in 1998 and has led the Company since 1999, steadily expanding operations and growing
revenues and profit. Mr. Langan has positioned the Company at the top of the gentlemen’s club sector by creating strong financial controls
for a business model that offers a pleasurable ambiance and a conscientious approach to customer service patterned after the “concierge model” of
the top Las Vegas casinos.
Forbes lists Rick’s Cabaret as one of America's 200 Best Small Companies. Rick’s Cabaret has been profiled in
The Wall Street Journal, Fortune, MarketWatch, Corporate Board Member, Smart Money, USA Today, The New York Daily News and other publications. Rick’s Cabaret was named
“best strip club in NYC” by Playboy.com and our New York City Steakhouse is listed in
Zagat’s New York Nightlife and was included in the
TONY 100 list of fine Manhattan dining establishments by
Time Out New York.
• NIGHTCLUB ENTERTAINMENT:
Rick’s Cabaret, high-end clubs and restaurants in New York City, Dallas-Ft. Worth, Minneapolis, Houston, Indianapolis and elsewhere;
Club Onyx, upscale nightclubs in Houston, Philadelphia, Dallas and Charlotte that cater to African-American gentlemen;
XTC Cabaret, more casual, all-nude clubs in Texas;
Tootsie’s Cabaret, the hugely popular Miami mega-club. The Rick’s Cabaret in New Orleans is licensed to its owner Robert Watters, the founder of the Company and a Board member.
• INTERNET ACTIVITIES: The Company owns and operates www.CouplesTouch.com, an adult entertainment
subscription website serving people in the “swingers’” lifestyle, and www.NaughtyBids.com and other
adult-oriented auction sites. The Company also owns the adult subscription portal www.xxxpassword.com. The Internet Division also provides in-house IT and graphics capabilities.
• MEDIA DIVISION: The Company owns
ED Publications, Inc., the leading trade publishing group serving the multi-billion dollar adult nightclub and retail store industry with the magazines
Exotic Dancer and StorErotica, plus related industry trade shows and industry-related websites.
• FEMALE ENTERTAINERS. The Company maintains high standards for personal appearance and the conduct of entertainers. Applicants are engaged based on such factors of physical beauty, dancing ability, demeanor and attitude, personality and communication skills. Most performers are independent contractors who pay a facilities use fee to perform and are compensated by customers.
• MANAGEMENT. Staff is recruited from both inside and outside the gentlemen’s club industry and all undergo a thorough training program supervised by our Director of Operations. Regional managers supervise local general managers, who are backed up by staffs that place a high premium on customer service. The Company has sophisticated, custom-designed internal procedures and cash management controls based on the casino industry model, designed to ensure the integrity of operational and accounting records. Club management is isolated from cash, and credit card transactions are strictly monitored. Charges made by customers as payment for food, drink and entertainment must be approved, in writing, by a manager before services are rendered. Real-time accounting and inventory control mechanisms are in place at all clubs.
• COMPLIANCE POLICIES. All business is carried on in conformity with local, state and federal laws. In particular, we maintain a No Tolerance Policy regarding illicit sex or drug use in or around the club locations. Strict appearance and conduct codes are maintained for performers.
• FOOD AND DRINK. Along with a first class bar, the Company maintains a high quality restaurant at most locations. Wait staff is carefully recruited, screened, trained and, in some states, certified. Each club maintains a stock of premium wine, liquor and beer in order to ensure that the customer perceives and obtains good value.
Decor and furnishings create the feeling of an upscale restaurant or private club. The sound system is designed to provide quality sound at levels where conversations can still take place.
• VIP ROOMS. In keeping with an emphasis on serving the upper-end of the business market, most clubs feature a VIP area. VIP rooms, for which the Company charges a premium, provide a higher level of service, luxury and privacy.
• ADVERTISING AND PROMOTION. We use local radio, cable television, Internet, newspapers, magazines, hotel and entertainment publications, billboards, taxicabs and a variety of direct marketing and promotional tools to keep the Rick's Cabaret name before the target consumer. The Company also maintains an active public relations program to gain exposure through stories in the media and on the Internet.
• REAL ESTATE. The Company operates clubs that are favorably situated from the standpoint of local zoning and regulatory issues. Rick’s either owns the real estate used by its clubs, or has long-term leases for the properties.
President & CEO
Rick's Cabaret International, Inc
. Eric bought his first club with $40,000 he earned from the sale of his baseball card collection and has worked in the adult industry for more than 20 years.
Eric acquired a controlling interest in Rick's Cabaret in 1999 and became CEO of the Company following its merger with his own publicly traded adult entertainment Company, Taurus, Inc. Under his direction Rick's has expanded its operations to multiple states and is leading a consolidation of the gentlemen's club industry.
He is a member of the Board of Directors of Adult Club Executives (ACE), the major trade organization for the gentlemen's club industry, and is considered an expert in the adult sector.
Eric spent his childhood in Peoria, Illinois, where his father was a police officer. The family subsequently moved to the Dallas area, where Eric began his entrepreneurial career at age 13. By the age of 16 he owned his own profitable advertising media company, distributing promotional flyers after school and during the summers.
Eric believes the future of Rick's Cabaret lies in careful acquisitions of existing clubs and expansion into viable markets and in finding new entertainment niches that are ahead of the entertainment curve. An example is the success of the Club Onyx concept, the first upscale gentlemen's clubs to cater to the African-American professional. It has attracted an enthusiastic clientele of pro athletes, musicians, businessmen, and community leaders. Eric believes the industry is in a consolidation phase similar to that experienced by the casino industry in the 1990s.
Forward looking Statements:
This document contains forward-looking statements that involve a number of risks and uncertainties that could cause the company’s actual results to differ materially from those indicated in this document, including the risks and uncertainties associated with operating and managing an adult business, the business climates in cities where it operates, the success or lack thereof in launching and building the company’s businesses, risks and uncertainties related to the operational and financial results of our Web sites, conditions relevant to real estate transactions, and numerous other factors such as laws governing the operation of adult entertainment businesses, competition and dependence on key personnel. Additional factors that could cause the Company’s results to differ materially from those described in the forward-looking statements are described in forms filed with the SEC from time to time and available at
or on the SEC's internet website at
. 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 visit
Contact: Gary Fishman, firstname.lastname@example.org, 212-532-3232