HOUSTON—Rick’s Cabaret International Inc. (NASDAQ:RICK), a leading group of upscale gentlemen’s clubs, has signed a definitive agreement to purchase The Gold Club, an adult nightclub in the Indiana capital.
“The Gold Club has long been a fixture in the Indianapolis entertainment scene and we will make it much more so as we complete renovations and add the famous Rick’s Cabaret style of hospitality and entertainment excellence,” said Eric Langan, president of the group that currently operates 21 clubs nationwide. “This purchase gives us an additional club in the Midwest and we expect that we will benefit from cluster efficiencies as we add more clubs in this region in the future.”
The transaction is expected to be finalized by Dec. 31, and is estimated to carry a price tag of $1.675 million.
The Gold Club is located off I-65 at 3551 Lafayette Road, about 3 miles from the world famous Indianapolis Speedway. The club has a VIP Champagne Room and is a popular location for bachelor and group parties.
Rick’s Cabaret International Inc. is home to upscale adult nightclubs, serving primarily businessmen and professionals, that offer live entertainment, dining and bar operations. Nightclubs in New York City, Miami, Philadelphia, New Orleans, Charlotte, Dallas, Houston, Minneapolis and other cities operate under the names Rick's Cabaret, XTC, Club Onyx and Tootsie’s Cabaret. Sexual contact is not permitted at these locations.
Rick’s Cabaret also operates a media division, ED Publications, and owns the adult internet membership website CouplesTouch.com, as well as a network of online adult auction sites under the flagship URL NaughtyBids.com.
For more information, contact [email protected] or visit RicksInvestor.com.
