RICK - RCI Hospitality Holdings buys adult nightclub at $25M

• RCI Hospitality Holdings ( NASDAQ: RICK ) announced Thursday the closing of another adult nightclub's acquisition in South Florida -Cheetah Gentlemen's Club.
• The transaction comes at a purchase price of $10M in cash and $15M in two, 10-year, 6% seller financing notes.
• Located in Hallandale Beach, the property includes 14,000 square-foot Cheetah strip club and its 2.2-acre area.
• "Cheetah becomes our fourth adult nightclub in South Florida, 15th club acquisition this fiscal year, and 52nd club in our portfolio. We believe it should generate approximately $4 million in adjusted EBITDA, " said RCI President & CEO Eric Langan.
• Earlier: RCI Hospitality acquires adult nightclub in Odessa, TX

For further details see: