Although Tootsie’s and Scarlett’s have full damage and business interruption insurance, neither unit experienced any meaningful damage.
“Our South Florida staff, whose safety and well-being along with their families was a principal concern, has responded gallantly, similar to our staff in Houston,” said Eric Langan, President & CEO of RCI.
“We have the best team in the business, and we appreciate their dedication. While we expect the financial impact of Irma will be minimal, as in Houston we will incur some expenses helping our most severely impacted employees.”
Mr. Langan added that seven of eight Texas units in areas affected by Hurricane Harvey in late August are all open and operating at their normal business hours, including a small club in Beaumont. The small club in South Houston, which was flooded, will require 4-6 weeks of remodeling and repairs.
After curfew was lifted September 5th, all three Bombshells Restaurant & Bars in the Houston area were staying open until their normal closing at 2:00 AM. Construction at the fourth Houston area Bombshells restarted last week in Pearland. It is currently expected to open in the second quarter of RCI’s Fiscal 2018 instead of 1Q18.
“On behalf of all of us at RCI, we want to thank all of the first responders and volunteers in Houston and Florida for their incredible work during and after these massive hurricanes,” Mr. Langan said. “We ask RCI shareholders to donate to legitimate charities in both affected areas.”
RCI’s Bombshells in Dallas and Austin collected truckloads of donations in the form of blankets, diapers, baby formula, bottled water, and other items that were distributed to charitable organizations in Houston.
About RCI Hospitality Holdings, Inc. (Nasdaq: RICK)
With 45 units, RCI Hospitality Holdings, Inc., through its subsidiaries, is the country’s leading company in gentlemen’s clubs and sports bars/restaurants. Clubs in New York City, Miami, Philadelphia, Charlotte, Dallas/Ft. Worth, Houston, Minneapolis and other cities operate under brand names, such as Rick’s Cabaret, XTC, Club Onyx, Vivid Cabaret, Jaguars, Tootsie’s Cabaret, and Scarlett’s Cabaret. Sports bars/restaurants operate under the brand name Bombshells Restaurant & Bar. Please visit http://www.rcihospitality.com/
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 cybersecurity, 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 RCI Hospitality Holdings, Inc.
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