RCI Announces Acquisition of Metro Detroit's Flight Club

We aren't here for a long time, we are here for a good time.

1/22/2025 6:11:29 PM

HOUSTON, Jan. 22, 2025 /PRNewswire/ -- RCI Hospitality Holdings, Inc. (Nasdaq: RICK) today announced closing on the acquisition of Flight Club, the premier gentlemen's club in the Detroit market, 5 miles from Detroit Metro Airport and 20 miles from downtown, casinos and major sports venues.

The purchase price totaled $11.0 million, consisting of $3.0 million cash and $5.0 million seller financing at 8.0% for the club, and $3.0 million cash for associated real estate. The company expects the acquisition to contribute an estimated $2.0 million in annualized adjusted EBITDA.

https://www.prnewswire.com/news-releases…

9 comments

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sinclair

•

a day ago

Well, the IRS was giving Flight Club trouble about a month or two ago. Alan is 70 years old, and it is an industry in decline. Too bad it is a large corporation taking it over.

Muddy

•

a day ago

I guess the fun is about to end.

motorhead

•

a day ago

Without any knowledge of the financials, my first impression is that $11 million seems really low.

A few of us TUSCL PL’s could have put together and bought the club.

shailynn

•

19 hours ago

Will I still be able to listen to Billy Joel songs in the VIP?

stripperlover777

•

19 hours ago

👽 RCI @ Strip Club Cheers!

Niceee SC'S, Let's $Prosper

https://www.rcihospitality.com/company/n…

https://www.rcihospitality.com/company/c…

shailynn

•

17 hours ago

^ You moron. Do you realize this is potentially like Applebee's taking over your favorite local upscale restaurant? This move can potentially ruin one of the best strip clubs in the US.

stripperlover777

•

17 hours ago

👽 RCI Portfolio Is Soooo Massive, There Only Few Other Really Big SC Ownerships Out There Like Penthouse, DejaVu, Larry Flynt Hustler Clubs, Scores, Centerfolds, Spearmint Rhino.
Would Be Interesting Which Of Da' Strip Clubs Makes Da' Most Profits & See Comparison On Locations, Reputation, & Ratings.

cakecoma

•

2 hours ago

Death to flight club extras. Sad. Silver linings, all those dancers will be found right down the street at BTs and Landing strip

Sgrayeff

•

34 minutes ago

Might not be the end of all the fun. Read my article Uncovered, Unexpected on this site. That beauty went all the way in one of these corporate clubs. Corporate doesn't mean the girls won't cop your joint. It might be more expensive though.

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