RCI Hospitality Holdings, Inc. (Nasdaq: RICK) announced closing yesterday on the acquisition of The Mansion Gentlemen’s Club and Steakhouse of Newburgh, NY, and its real estate. RCI previously announced a definitive agreement for the acquisition on August 18. Financial terms remained the same.
Newburgh is located in Orange County, NY, and is a principal city of the Poughkeepsie–Newburgh–Middletown metropolitan area, which belongs to the larger New York megacity. The Mansion is located at 5268 Route 9W, Newburgh NY, 12550.
Eric Langan, President and CEO of RCI Hospitality Holdings, Inc., said, “We’re excited about this acquisition. The Mansion expands our already successful presence in New York State. The club was completely renovated in 2018, has been in business for nine years, and is well situated as the only gentlemen’s club with a liquor license in Orange County, considered to be one of the fastest-growing areas in New York.”
About RCI Hospitality Holdings, Inc. (Nasdaq: RICK)
With more than 50 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, Chicago, Dallas/Ft. Worth, Houston, Miami, Minneapolis, Denver, St. Louis, Charlotte, Pittsburgh, Raleigh, Louisville, and other markets operate under brand names such as Rick’s Cabaret, XTC, Club Onyx, Vivid Cabaret, Jaguars Club, Tootsie’s Cabaret, and Scarlett’s Cabaret. Sports bars/restaurants operate under the brand name Bombshells Restaurant & Bar.
