RCI Announces Acquisition of Platinum West Gentlemen’s Club in West Columbia, SC
RCI Hospitality Holdings, Inc. (RICK)
Last rci hospitality holdings, inc. earnings: 2/27 04:10 pm
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US:NASDAQ Investor Relations:
rcihospitality.com/investor/default.aspx
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Source: Business Wire
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 of 3-5x annualized adjusted EBITDA for a club and fair market value for its real estate.Eric Langan, President and CEO of RCI Hospitality Holdings, Inc., commented: “This is another exciting acquisition. It fits in well with our other high-end clubs and is the second club purchase since the recent launch of our 5-Year ‘Back to Basics’ Capital Allocation Plan.”“Platinum West is a well-established business with a seasoned management team. It adds to our six other clubs in Southeast states and s
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RICK
Earnings
- 2/10/25 - Beat
RICK
Sec Filings
- 12/15/25 - Form 8-K
- 12/15/25 - Form NT
- 12/10/25 - Form 3
- RICK's page on the SEC website