Rick's Cabaret International, Inc. Changes Name to RCI Hospitality Holdings, Inc.; Stock Symbol Remains RICK

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Aug 07, 2014, 09:00 ET

HOUSTON, Aug. 7, 2014 /PRNewswire/ -- Rick's Cabaret International, Inc. (NasdaqGM: RICK) announced that shareholders at the annual meeting yesterday approved changing the company's name to RCI Hospitality Holdings, Inc., effective August 6, 2014. The company is retaining its ticker symbol RICK for its NASDAQ stock exchange listing.

RCI Hospitality Holdings Corporate Logo (PRNewsFoto/RCI Hospitality Holdings, Inc.) (PRNewsFoto/RCI HOSPITALITY HOLDINGS INC)

"RCI Hospitality Holdings clarifies our identity and reflects how we have evolved into a substantial, more diverse enterprise," said Eric Langan, President and CEO. "Since becoming a publicly traded company in 1995, when we had only one adult club named Rick's Cabaret, we have transformed into an owner and operator of 43 adult clubs and sport/bar restaurants under multiple brands and formats across the country. The new name embraces critical qualities that are key to our success now and in the future."

The company's adult clubs, including those using the name "Rick's Cabaret," and sports bar/restaurants will retain their current names, continuing to benefit from the brand equity that they have built.

About RCI Hospitality Holdings, Inc. (NasdaqGM: RICK)

With 43 units, RCI Hospitality Holdings, Inc. (formerly Rick's Cabaret International, Inc.) is the leading operator of adult gentlemen's clubs and sports bar/restaurants in the US. Adult clubs in New York City, Los Angeles, Miami, Philadelphia, Charlotte, Dallas/Ft. Worth, Houston, Minneapolis, Indianapolis and other cities operate under brand names, such as "Rick's Cabaret," "XTC," "Club Onyx," "Vivid Cabaret," "Jaguars" and "Tootsie's Cabaret." Sports bar/restaurants, which also feature live entertainment, operate under the brand names "Bombshells" and "Pole Position Sports Saloon."

New Corporate Website

The company's new corporate website can be found at http://www.rcihospitality.com.

Forward-Looking Statements

This press release may contain forward-looking statements that involve a number of risks and uncertainties that could cause the company's actual results to differ materially from those indicated in this press release, including the risks and uncertainties associated with operating and managing an adult business, the business climates in cities where it operates, the success or lack thereof in launching and building the company's businesses, risks and uncertainties related to the operational and financial results of the company's Web sites, conditions relevant to real estate transactions, and numerous other factors such as laws governing the operation of adult entertainment businesses, competition and dependence on key personnel. The company has no obligation to update or revise the forward-looking statements to reflect the occurrence of future events or circumstances.

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SOURCE Rick's Cabaret International, Inc.