August 29, 2005 07:14am
Rick's: Katrina Won't Affect Us
Source: Rick's Cabaret International, Inc.
by: Company Press Release
(HOUSTON, TX) -- Rick's Cabaret International, Inc. [NASDAQ: Rick), operator of adult nightclubs, said today that Hurricane Katrina will have no effect on its revenue or earnings because the independent Rick's Cabaret nightclub in New Orleans operates under a one-time license fee.
"Revenue and earnings from the New Orleans club have not been part of Rick's Cabaret International since the payment of a one-time license fee in 1999, and therefore the closure of this facility during the threat from Hurricane Katrina will have no impact on our operations," said Eric Langan, CEO of Rick's Cabaret. "We are concerned for everyone in the affected area and particularly our colleagues at the Rick's Cabaret on Bourbon Street. We hope that everyone will remain safe."
About Rick's Cabaret
Rick's Cabaret International, Inc. (Ricks.com) operates upscale adult nightclubs serving primarily businessmen and professionals that offer live adult entertainment and high quality restaurant and bar operations. The company owns, operates or licenses eleven adult nightclubs in New York City, New Orleans, Houston, Minneapolis, Charlotte and other cities under the names "Rick's Cabaret," "XTC," "Club Onyx" and "Hummers." No sexual contact is permitted at any of these locations. Rick's Cabaret also owns an adult Internet membership Web site, CouplesTouch.com, and a network of nine online auction sites for adult products under the flagship URL NaughtyBids.com. Rick's Cabaret common stock is traded on the NASDAQ
SmallCap market under the symbol Rick. For further information contact IR@Ricks.com.
This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934 that involves significant risks and uncertainties, and is subject to the safe harbors created by this section. Important factors that could cause actual results for Rick's Cabaret to differ materially from those indicated in this press release include the risks and uncertainties as to the future operational and financial results of our Web sites, conditions relevant to real estate transactions, the future operational performance of our partners, the laws governing the operation of adult entertainment businesses, competitive and economic factors, dependence on key personnel and the ability to manage operations. Rick's Cabaret has no obligation to update or revise the forward-looking statements to reflect the occurrence of future events or circumstances. Please refer to the documents Rick's Cabaret files from time to time with the Securities and Exchange Commission, in particular the most recent quarterly reports on Form 10-QSB and annual report on Form 10-KSB, which are available at the company's website, Ricks.com.
Contact for further information: Allan Priaulx, 212-338-0050, IR@Ricks.com