Rick's Cabaret International, Inc. Reports Nightclub Sales Gain 20% to $6.5 Mill

HOUSTON - (Business Wire) Rick's Cabaret International, Inc., (NASDAQ: RICK), the nation's premier operator of upscale gentlemen's clubs, said today revenues at its adult nightclubs in July were $6.5 million, a 20 percent increase over the July 2008 revenues of $5.4 million. Same club sales for locations open more than a year increased 5.26 percent over the previous July.
“The revenue report for July indicates that our key clubs are doing very well in this difficult economic period,” said Eric Langan, president and CEO of Rick's Cabaret. “We had positive growth in key markets such as New York, Miami, Minneapolis and San Antonio. While we still face challenges in several markets we are addressing them aggressively. “

Rick's Cabaret/New York City and Tootsie's Cabaret had very strong July revenues, with increases of more than seven percent each over the previous July. Sales at the new Club Onyx in Philadelphia were 65 percent above the previous July, when the location was operated as a Rick's Cabaret.