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Rick's Cabaret International, Inc. Plans Reopening of Two Texas Adult Nightclubs

HOUSTON--(BUSINESS WIRE)--Rick's Cabaret International, Inc. (NASDAQ:RICK) plans a gala reopening party January 21st for its XTC Cabaret South Houston club (at 802 Houston Boulevard, Highway 3), which had been closed for renovation for the past several months.

“Relaunching these two locations will have the effect of making two additional acquisitions at little cost to the company apart from modest capital expenditures”

In addition the company will reopen its Rick's Cabaret Austin (8110 Springdale Road), which was closed pending its sale. The buyer's financing for the transaction fell through late last year and the company has decided to keep the club and relaunch it with a new concept in March 2010. The company has also worked out new parking arrangements and a system to provide guest transportation services from nearby venues.

“Relaunching these two locations will have the effect of making two additional acquisitions at little cost to the company apart from modest capital expenditures,” said Eric Langan, President and CEO of Rick's Cabaret. “We believe the new concept in Austin will perform much better than its previous format and we are pleased to have solved a parking problem in a way that our customers will appreciate.”

XTC Cabaret South Houston has been completely renovated and modernized inside and out, with new furnishings and a friendlier, more open interior layout. Acquired in 2006, the club features all-nude dancing and a BYOB format. For further information call (713) 946-9718.

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RICK is one of the best performing stocks this year that I know about. Already up 37%. Of course there are risks and uncertainties with investing in it like any other stock. Never know when this company will be busted for an accounting scandal, corruption, etc. I think RICK will be the largest strip club chain in the future if it is not already (I think I remember reading Christie's is the largest but that was several years ago when I read about that..also Spearmint Rhino and Deja Vu are well known)