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RCI Announces Acquisition of Platinum West Gentlemen's Club in West Columbia, SC

1. RICK acquires Platinum West Gentlemen's Club for $8 million. 2. The acquisition aligns with RICK's valuation target.

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Why Bullish?

The acquisition of a unique asset can strengthen RICK's market presence and profitability, similar to previous successful acquisitions boosting revenue.

How important is it?

This acquisition underscores RICK's expansion strategy and capacity to capture niche markets, indicating potential for revenue increase.

Why Long Term?

The strategic purchase enhances RICK's long-term growth potential in the upscale adult entertainment sector, similar to past acquisitions that improved market share.

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HOUSTON--(BUSINESS WIRE)--RCI Hospitality Holdings, Inc. (Nasdaq: RICK) today announced closing on the acquisition of Platinum West Gentlemen's Club in West Columbia, South Carolina, the only upscale adult nightclub in the central part of the state. The purchase price totaled $8.0 million, consisting of $3.75 million cash and $2.5 million seller financing at 7% for the club, and $1.75 million cash for associated real estate. The purchase price is in line with RCI's acquisition valuation target.

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