Welcome to our dedicated page for RCI Hospitality Holdings news (Ticker: RICK), a resource for investors and traders seeking the latest updates and insights on RCI Hospitality Holdings stock.
RCI Hospitality Holdings, Inc. (Nasdaq: RICK) is a leading operator of upscale gentlemen's clubs and restaurants, renowned for providing high-quality adult entertainment and dining experiences. Founded in 1983 and formerly known as Rick's Cabaret International, Inc., the company went public in 1995 and has since expanded significantly, boasting more than 60 locations across the United States. Its core business segments include Nightclubs, Bombshells, and others, with a diversified portfolio of brands such as Rick's Cabaret, Vivid Cabaret, Tootsie's Cabaret, Club Onyx, and Jaguars Club.
The company's Nightclubs segment is the primary revenue driver, offering live adult entertainment, alcoholic beverages, food, and merchandise sales. This segment generates additional income through cover charges, dance fees, and room rentals. The Bombshells segment focuses on developing a chain of military-themed sports bars and restaurants in Texas, noted for their lively atmosphere, large screens, and extensive food and drink menus.
RCI Hospitality is known for its strong financial health, characterized by consistent profitability, robust cash flow, and effective internal controls. The company's strategic roll-up approach has enabled it to consolidate the adult nightclub industry, acquiring new clubs and expanding its footprint. One recent development includes the modification of $15.7 million in debt, extending maturities to free up cash for share buybacks, demonstrating savvy capital management.
Notable recent achievements include RCI's provision of free entrees for veterans at its Bombshells locations on Veterans Day, reflecting its community support ethos. Financially, the company reported solid performance with total annual revenues increasing by 9.8% for FY23, despite challenges posed by the broader economy. Additionally, RCI continues to innovate by accepting Bitcoin at its Miami-based clubs, indicating its adaptability to modern payment technologies.
As of early 2024, RCI reported sales of $73.3 million for its Nightclubs and Bombshells restaurants, driven by acquisitions and new locations. The company continues to pursue growth through strategic acquisitions, opening new venues, and enhancing existing ones. With a committed leadership team, RCI is well-positioned to navigate economic uncertainties and capitalize on future opportunities.
RCI Hospitality Holdings, Inc. (Nasdaq: RICK) will announce its fiscal 2022 third quarter financial results on August 9, after market close. The company will host a conference call at 4:30 PM ET, followed by a Meet Management event at 7 PM ET at Rick's Cabaret New York. Key executives, including President & CEO Eric Langan, will participate in a Twitter Spaces session for Q&A. Interested investors can RSVP via email and listen to the live call at a dedicated link. RCI operates adult nightclubs and sports bars across major cities in the U.S.
RCI Hospitality Holdings, Inc. (Nasdaq: RICK) has finalized its acquisition of the Cheetah Gentlemen's Club in Hallandale Beach, Florida, along with its real estate. The deal, costing $10 million in cash plus $15 million in seller financing, marks RCI's 15th acquisition this fiscal year, bringing its total to 52 clubs. The Cheetah club is expected to generate approximately $4 million in adjusted EBITDA. Located on a 2.2-acre property, the club enhances RCI's South Florida presence alongside other brand-name clubs.
RCI Hospitality Holdings, Inc. (Nasdaq: RICK) has completed acquisition agreements to open a new adult nightclub, PT's Showclub, in Ector County, TX, for $1.8 million. This will be the 14th location acquired this fiscal year and increases RCI's portfolio to 51 clubs. The new club is strategically located off State Highway Loop 338, aiming to attract a different market segment compared to existing brands in the area. It is expected to contribute to financial results by the end of September 2022.
RCI Hospitality Holdings (Nasdaq: RICK) reported preliminary sales of $70.1 million for 3Q22, marking a year-over-year increase of 23.7%. Nightclubs generated $54.3 million in sales, up 33.8%, while Bombshells saw a slight decline of 1.9% to $15.8 million. The company repurchased 168,069 shares for a total of $9.2 million during the quarter. RCI's CEO noted that this quarter was the first unaffected by COVID-19 since Q1 2020, with cash reserves of $37.5 million bolstering investor confidence.
RCI Hospitality Holdings, Inc. (Nasdaq: RICK) will announce its fiscal third-quarter sales for Nightclubs and Bombshells restaurants on July 12, 2022, before the market opens. A Twitter Spaces conference call hosted by Eric Langan, RCI's President & CEO, will take place at 10:30 AM ET, co-hosted by WOLF Financial and Mark Moran. The call can be accessed via Twitter Spaces. A replay will be available immediately after the call.
RCI Hospitality Holdings, Inc. (Nasdaq: RICK) has launched its first franchised Bombshells Restaurant & Bar in San Antonio, Texas, known for its military community. Situated at 8410 Texas Highway 151, this location employs 250 people and serves as the 12th unit in Texas. The restaurant boasts 9,000 square feet of indoor space and 3,200 square feet outdoors, with seating for over 500. Bombshells offers a unique dining experience complete with military-themed decor, a full bar, and various food options. The chain plans to expand with three more company-owned locations and one franchise.
RCI Hospitality Holdings, Inc. (Nasdaq: RICK) has declared a quarterly cash dividend of $0.05 per common share for the third quarter of Fiscal 2022, ending June 30, 2022. The dividend will be payable on June 29, 2022, to holders of record as of June 15, 2022, with an ex-dividend date of June 14, 2022. This marks the company's 26th consecutive quarterly cash dividend, reflecting its commitment to returning value to shareholders.
RCI Hospitality Holdings, Inc. (Nasdaq: RICK) has authorized a $25.0 million increase to its share repurchase program. Since initiating its capital allocation strategy in FY16, RCI has repurchased approximately $25.4 million worth of shares, totaling around 1.6 million shares at an average price of $15.88 per share by 2Q22. This buyback strategy aims to enhance shareholder value, indicating the company's confidence in its future performance as it continues to lead in the adult nightclub and sports bar market.
RCI Hospitality Holdings, Inc. (RICK) reported impressive financial results for Q2 2022, with total revenues reaching $63.7 million, a 44.6% year-over-year increase. EPS rose to $1.15, marking a 69.1% increase. Non-GAAP EPS showed even greater growth, hitting $1.19, up 58.0%. The company ended the quarter with $38.1 million in cash, and continued expansion efforts are underway including new acquisitions and Bombshells locations. Conference call scheduled for today at 4:30 PM ET via Twitter Spaces.
RCI Hospitality Holdings, Inc. (Nasdaq: RICK) will hold its 2Q22 conference call on Twitter Spaces on May 9th at 4:30 PM ET, becoming the first public company to utilize this platform for an earnings call. The earnings release and 10-Q filing for the quarter ending March 31 will precede the call. Afterward, investors can meet management at Tootsie's Cabaret in Miami. The company highlights its strategy of leveraging technology, including accepting Bitcoin and launching the Tip-N-Strip NFT program.
FAQ
What is the current stock price of RCI Hospitality Holdings (RICK)?
What is the market cap of RCI Hospitality Holdings (RICK)?
What types of businesses does RCI Hospitality Holdings operate?
When was RCI Hospitality Holdings founded?
What are the primary revenue sources for RCI's Nightclubs segment?
How does RCI support veterans through its Bombshells segment?
What recent financial performance has RCI reported?
How does RCI Hospitality manage its debt?
What is RCI Hospitality's approach to growth and acquisitions?
What modern payment technologies does RCI Hospitality utilize?
How does RCI Hospitality's Bombshells segment differ from its Nightclubs segment?
What are RCI Hospitality's future plans?
