Quick Index
 Adult Industry News
Search AINews Database
Type Keyword or Phrase Here
Pornography feminists unshackle their desires and celebrate their sexuality in the patriarchal world Elementary Public Relations Consulting and Press Release Service

Front Page
Film News
Media News
Business News
Clubs & Appearances
Law & Politics
Internet & Mobile News
Lifestyles Arts Health Charity
Letters to the Editor
Movie Spotlight Reviews
Pornstar Pages
AINews Staff
Ad Rates
PR 101: Press Release Service

Caliente Swinger Vacations!

Join Tera Patrick

July 10, 2000 05:09am
Rick's Cabaret International Inc. Completes Acquisition With Voice Media, Inc.
Source: Rick's Cabaret International Inc.
by: Company Press Release

(HOUSTON, TX) -- Rick's Cabaret International, Inc. (Nasdaq:RICK - news) announced today that it has completed the acquisition of XXXPassword.com, from Voice Media, Inc. For the 11 months ended May 31, 2000, the web site had gross revenues in excess of $3,000,000. The acquisition is the first of a series planned by the Company aimed at making Rick's one of the top players in the adult Internet market.

Under the terms of the acquisition, Rick's has issued 700,000 restricted shares of Rick's common stock to Voice Media, of which 250,000 shares will remain in escrow until certain earnings benchmarks are achieved. Voice Media will also be entitled to receive a cash earn-out amount of $380,000 during the six years following Rick's acquisition. In addition, Voice Media could receive up to an additional cash earn out amount of $925,000 if certain earnings benchmarks are achieved. Voice Media would receive the entire amount if the EBIDTA of XXXPassword during the 12 month period following the closing of this transaction exceeds $1,200,000. The cash earn-out portion of the purchase price is payable only from up to 50% of the free cash flow from the web site, payable over six years. As part of the acquisition, Voice Media will continue to manage and market the web site for a flat monthly fee.

Eric Langan, President and CEO of Rick's, stated, ``The purchase of XXXPassword.com confirms our commitment to our acquisition strategy to acquire adult Internet web sites that have substantial revenues, free cash flow and profits that can be generated under the web site's present management. We are continuing to examine a number of other viable acquisition targets to enhance our expanding Internet revenues.'' Rick's also has signed a letter of intent to acquire a second web site from Voice Media, www.clubpix.com, which had gross revenues in excess of $12,000,000 for the 11 months ended May 31, 2000.

Langan also added, ``We anticipate adding $18,000,000 in gross revenues from our Adult Internet operations in the next fiscal year. This combined with our added increase in same store revenues at our cabaret locations should make Rick's profitable during our next fiscal year.

Rick's Cabaret International Inc. opened its first ``Rick's Cabaret'' in Houston, Texas in 1983 and went public with it IPO in 1995, making Rick's the world's first publicly traded topless entertainment business. Rick's owns and operates premier adult entertainment Internet web sites, such as www.DancerDorm.com and www.SmutDog.com. Rick's also owns and/or operates four Rick's Cabaret locations, three of which are in Houston and one of which is in Minneapolis. Rick's also owns and operates two XTC Cabarets, which are located in San Antonio and Austin, through its 93% owned subsidiary, Taurus Entertainment Companies Inc. Rick's and its subsidiaries own all the real estate properties where their cabarets and Internet production studio are located except it's south Houston location, which is leased.

Other companies in the adult entertainment industry include New Frontier Media Inc., Playboy Enterprises Inc. and Private Media Group.

This press release contains forward looking statements that involve a number of risks and uncertainties. Important factors that could cause Rick's actual results to differ materially from those indicated in this press release include the risks and uncertainties as to whether the definitive documentation will ultimately be executed, the future operational and financial results of the newly acquired web site, the future operational strength of Voice Media, the laws governing the operation of adult entertainment businesses, competitive factors, dependence on key personnel, and the ability to manage operations. 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, contact Eric Langan, President of Rick's,

at 713/820-1181, email eric@ricks.com, or Larry Howell, The Howell Group, at 214/368-1592, email howgroup@iglobal.net.

Pornography feminists unshackle their desires and celebrate their sexuality in the patriarchal world


See BiBi Jones at Digital Playground

Top Stories

Public Sex Adventures 2

MWA: 11/11/15

Kendra Sunderland at Sapphire NYC

Sheri's Ranch Views Prostitutes

MWA: 11/10/15

Real Housewives Get Pipedream

Maryjean on Stern

MWA: 10/22/15

Gia Nova Vivid Radio Segment

Dani Daniels on Interracial

MWA: 10/29/15

Three Rules with Chad White

Gentlemen's Club Live Feed

Charles Manson to be Released!

Romantic Moments Revealed

Laff K Featuring Maryjean

Leya Falcon at AFFLV

MWA: 10/07/15

Adult Film Festival

Adult Webcam Conference

Daddy's Girls 2 ~ Reviewer Rated

Calvert Joins Gamelink

Interrogated ~ Reviewer Rated

1st AFFLV Hits Cashman

MWA: 09/11/15

Richelle Ryan Naked Yoga

Morgan, Lindemulder Headline Exxxotica

A French Documentary Like No Other

Night at the Erotic Museum

Hill and Howard Raw

Taboo is Delicious

Night, Rai, Moore, on Inside

Candida Royalle Passes

Cindy Starfall Appearances

Priya in NYC

More w/Mo Celebrates 100

Angel, Albrite AVN Awards Hosts

The Upward Trending Trannie

Elizabeth Bentley Hits Circuit

Tony Batman to Big Easy

Cleopatra Dead

Introducing Bitcoin Porn Sites

Candidate Sex Tape Scandal

Donald Trump Porn Parody

Savana Styles Available

MWA: 08/15/15

Sex with Donald Trump

MWA: 08/17/15

Ashley Sinclair Sex Tape

MWA: 08/12/15

Mercedes Carrera NightMoves Nom

Allie Haze in Columbus

Vivid NYC Nommed

Stories From

Business News

Savana Styles Available

ChargeSavvy at ED Show

Driller Signs The Rub

NightMoves Calls for Sponsors

Casting Call

ABK Beta Users Free

OC Signs Darcie Dolce

Brittany is Back

Dollie Darko with 101 Modeling

Mercy West Available

The V Agency Joins LATATA

Sin Claire with Foxxx

New Smash VP Wyatt Case

Epoch Club Special Event

Ink Inks OC, The Rub

XBIZ 2016 Announced

RAW Signs Sasha Bradshaw

Direct Reps Harper

SashaBrabuster's XXX Comeback

AJ Applegate Available

Freedom Acres Open House

Global Adult Industry Association

Tod Hunter Press Releases

Cumisha Amado at Sagebrush

J.Lo Doc Johnson Offer

Passport to Hustler Event

Advertise on AINews

Freedom Acres Location

Nina Elle Retains Star Factory

Karen Summer Returns

She's Judas & Available

Camming Con Moves Dates

Exquisite Distributes DDF

Cherie Deville Returns

Roxanne Rae Available

Cherie Deville Available

Maryjean Available in LA

Alicia Silver Productions Content

Thomas Bagley Outed Belle Knox

Casting Call for 'Operation: Outdoors'

Mission Control Open House

Cherie Deville in LA

PASS Holiday Schedule

Santa Susana Pass Location

Sure Fuck Clothing Line

Nadia Night With Lucky Devil

Richelle Ryan Available

FSC Burdens Performers

AINews New Look

Business News Section Index

Copyright © 1998 - 2015 Adult Industry News (AINews.com)
All materials constituting text, articles, press releases, stories, columns, photographs, graphics, and code on the AINews.com domain are protected by copyright, and either owned by Adult Industry News (AINews.com), or reproduced with permission from other copyright owners. It may be downloaded and printed for personal reference, but not otherwise copied, altered in any way, or transmitted to others, without the written permission of Adult Industry News (AINews.com).