- Business
- RCI Hospitality Holdings, Inc. (Nasdaq: RICK; Ticker: 0KT6.L) owns and operates a portfolio of upscale adult nightclubs, sports-bar restaurants, and related hospitality venues across the United States. Founded in 1983 as Rick's Cabaret International and headquartered in Houston, Texas, the company serves adult entertainment and dining markets through its Nightclubs segment, which includes brands such as Rick's Cabaret, Vivid Cabaret, Tootsie's Cabaret, Club Onyx, Jaguars Club, Hoops Cabaret and Sports Bar, Platinum Plus, and Studio 80; its Bombshells segment, featuring military-themed sports bars and restaurants in Texas locations including Houston, Dallas, Austin, Spring, Pearland, Tomball, Katy, Arlington, and Stafford, plus a food hall in Denver, Colorado; and other supporting services encompassing media, conventions, real estate investments, and premier adult entertainment websites. With over 60 locations spanning states such as Texas, New York, Florida, Illinois, Arizona, Minnesota, Pennsylvania, South Carolina, Louisiana, and others, RCI generates revenue from entry fees, food and beverage sales, private events, leasing, and property appreciation. Recent developments include the June 2025 acquisition of Platinum Plus Gentlemen's Club in Allentown, Pennsylvania, as part of its five-year "Back to Basics" Capital Allocation Plan; a November 2025 strategic partnership with entrepreneur Jonathan Joseph, under which his entity acquired a 49% interest in Rick's Cabaret Austin for $1.8 million; a November 2025 buyback of 821,000 shares (approximately 9.5% of outstanding shares) from ADW Capital Partners L.P. for $30 million to accelerate share reduction goals; debt agreement modifications securing $3.25 million in new notes with extended maturities effective October 2025; and ongoing asset sales estimated at $34 million.