RCI Hospitality Holdings, Inc. (Nasdaq: RICK) today announced closing on the acquisition of the Heartbreakers Gentlemen’s Club, and its associated real estate.
Eric Langan, RCI President & CEO, said: “Established in 1986, Heartbreakers is the number one adult entertainment venue in the Galveston, Texas, area. It is our first club acquisition of Fiscal 2023 and the 53rd club in our portfolio.”
Dean Reardon, RCI Management Vice President of Operations, said: “Heartbreakers enjoys a loyal following among its guests and entertainers. It has a high-energy, exciting atmosphere; serves liquor and food; and fits well with our other brands in Texas.”
RCI subsidiaries acquired the 5-stage, 23,000 square-foot Heartbreakers club and property at 3200 Gulf Freeway, Dickinson, TX, for $4 million in cash and $5 million in a 15-year, 6% real estate seller financing note.