Rick’s Cabaret Aquires San Antonio Club
Rick’s Cabaret International, Inc., announced that it has added another gentleman’s club to its portfolio.
The company acquired Centerfolds Gentleman’s Club in San Antonio, Texas, for a total of $2.9 million. Centerfold’s is a topless club that serves alcohol.
Rick’s already owns two adult nightclubs in the San Antonio market, XTC Cabaret and Club Onyx.
Rick’s, based in Houston, Texas, is a publically traded company (NASDAQ symbol: RICK) with 13 gentlemen’s clubs across the United States. As of this writing Rick’s has a market capitalization of aproximately $33 million dollars. In fiscal year 2005 Rick’s lost $215 thousand on gross revenue of $14.8 million.