Restaurant sales

RCI reports club and restaurant sales of $61.1 million in 1Q22

HOUSTON, January 11, 2022 /PRNewswire/ — RCI Hospitality Holdings, Inc. (Nasdaq: RICK) announced sales of its Nightclubs and Bombshells restaurants for the first quarter of fiscal 2022 ended December 31, 2021.

Eric LanganPresident and Chief Executive Officer of RCI Hospitality Holdings, Inc., said, “We had a strong first quarter as we took advantage of the legacy as well as new locations, namely our 11th Bombshells in Arlington, TXwho opened December 6, and the 12 clubs we acquired in mid-October and early November. We did not feel any noticeable impact from Omicron until the end of 1Q22 and expect it to quickly cross our markets. We look forward to the opening of our first franchise Bombshells San Antonio location in our March quarter. Full 1Q22 financial results are expected to be released by February 9.”

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  • RCI provides comparisons with its pre-COVID 1T20 (completed December 31, 2019) for information.
  • Sales do not include non-essential transactions and are preliminary and subject to final closing.
  • The COVID pandemic first impacted RCI’s 2Q20 sales when all locations had to close mid-March 2020. Bombs and some nightclubs have started to reopen May 2020 at RCI’s 3T20. Not all nightclubs were fully reopened to full operating hours until 4Q21.
  • All references to “RCI Hospitality Holdings, Inc.”, “the company”, “we”, “our” and similar terms refer to RCI and/or its affiliates, unless the context otherwise requires.

About RCI Hospitality Holdings, Inc. (Nasdaq: RICK)

With more than 50 units, RCI Hospitality Holdings, Inc., through its subsidiaries, is the national leader in gentlemen’s clubs and sports bars/restaurants. clubs in New York City, Chicago, Dallas-Fort Worth, Houston, Miami, Minneapolis, denver, Saint Louis, Charlotte, Pittsburgh, Raleigh, Louisville, and other markets operate under brands 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 Bombshells Restaurant & Bar brand.

FForward-looking statements

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, including, but not limited to, risks and uncertainties associated with (i) operating and managing a mature business, (ii) the business climate in the cities in which it operates, (iii) the success or failure of launching and growing the business of the business, (iv) cybersecurity, (v) conditions relating to real estate transactions, (vi) the impact of the COVID-19 pandemic, and (vii) many other factors such as laws governing the operation of businesses adult entertainment industry, competition and dependence on key personnel. For a more detailed discussion of these factors and certain risks and uncertainties, see RCI’s Annual Report on Form 10-K for the year ended. September 30, 2021, as well as its other filings with the United States Securities and Exchange Commission. The Company undertakes no obligation to update or revise any forward-looking statements to reflect the occurrence of future events or circumstances.

Media and investor contacts

Gary Fishman and Steven Andreder at 212-532-3232 or [email protected] and [email protected]

SOURCE RCI Hospitality Holdings, Inc.

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