RCI Reports 3Q24 Club & Restaurant Sales & Other Updates
Nightclubs: Total sales of
Bombshells: Total sales of
Buyback Authorization: RCI's Board of Directors has authorized increasing the amount available under the company's share repurchase program by
Casino Withdrawal: Applications to operate casinos were formally withdrawn from the
Beryl Update: After Hurricane Beryl made landfall in the greater
"To that end, we're pleased to report our first quarterly increase in Nightclubs same-store sales since 2Q23 and the initial success of our current club reformatting program. We're also pleased to see Bombshells total sales increase sequentially. This reflects changes initiated mid-February. Clubs and restaurants also benefited from a strong pro sports playoff line-up, partially offset by temporary closures due to severe weather in
"To date in FY24, we have opened two new locations—Bombshells Stafford (TX) in
Club & Restaurant Sales ($ in Millions)
3Q24 |
Total Sales |
Total Sales vs. 3Q23 |
Same-Store Sales vs. 3Q23 |
Nightclubs |
|
+0.7 % |
+1.7 % |
Bombshells |
|
-8.9 % |
-16.2 % |
Combined |
|
-1.1 % |
-1.5 % |
9M24 |
Total Sales |
Total Sales vs. 9M23 |
Same-Store Sales vs. 9M23 |
Nightclubs |
|
+4.3 % |
-3.6 % |
Bombshells |
|
-8.0 % |
-19.0 % |
Combined |
|
+1.9 % |
-6.5 % |
Notes
- Revenues from non-core operations, such as third-party rents, and revenues from RCI's Other segment, are not included in Nightclubs and Bombshells sales above.
- All references to "
RCI Hospitality Holdings, Inc. ," "company," "we," "our," and similar terms refer to RCI and/or its subsidiaries, unless the context indicates otherwise.
About
With more than 60 locations,
Forward-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, the risks and uncertainties associated with (i) operating and managing an adult entertainment or restaurant business, (ii) the business climates in cities where it operates, (iii) the success or lack thereof in launching and building the company's businesses, (iv) cyber security, (v) conditions relevant to real estate transactions, (vi) the impact of the COVID-19 pandemic, and (vii) numerous other factors such as laws governing the operation of adult entertainment or restaurant businesses, competition and dependence on key personnel. For more detailed discussion of such factors and certain risks and uncertainties, see RCI's annual report on Form 10-K for the year ended
Media & Investor Contacts
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