Rick’s Cabaret International has acquired Dreamers Cabaret & Sports Bar in South Houston.
The club, at 802 Houston Blvd., will be converted into an XTC Cabaret strip club, the company announced today.
“This is a strategic acquisition for us. We secure a very solid venue in the South Houston market and will also be able to realize significant savings through economies of scale since we already operate four other clubs in the Houston area,” said Eric Langan, Rick’s president and CEO.
“The club requires little start-up investment to convert to our format and we expect the new location will be immediately accretive to our earnings.”
The new club would join three other clubs under the XTC Cabaret brand.
The acquisition marks one of several recent moves by the publicly-traded company in its expansion efforts. Recently, the company converted a nightclub complex near Houston’s Hobby Airport into Rick’s Sports Cabaret, featuring topless dancers in a sports club setting. In March The company agreed to purchase a 99,085-square-foot building that had housed one of its XTC Cabarets and a Hummer’s Sports Bar.
Rick’s Cabaret operates five strip clubs under the Rick’s Cabaret name, including one in New York, and four others under the XTC name in Texas. It also operates Club Onyx and the Hummers’ Sports Bar & Grill, both located in Houston.
