Source: Rick’s Cabaret International Inc.
By: Company Press Release
HOUSTON–(BUSINESS WIRE)–June 2, 1999–Rick’s Cabaret International Inc. (Nasdaq:RICK – news), the Houston-based adult entertainment chain announced that it has registered the domain name “dancerdorm.com”. “We intend to use this site to create a monthly membership area where users can watch the life of a dancer at home,” announced Eric Langan, president and chief executive officer of Rick’s Cabaret.
“We believe that the fascination of watching people’s lives 24 hours a day over the Internet combined with the ability to meet in real life at Rick’s Cabaret will take Internet voyeurism to the next level,” said Mr. Langan.
The Company is currently researching the legality of converting a Company owned property into a fully wired Internet broadcasting “dorm” where the dancers will live when not working at Rick’s. Under current plans the Company intends to have the site up and running by the end of September 1999.
The Company is continuously seeking acquisition candidates in the adult nightclub business as well as Adult Internet websites that have current net profits in order to continue it’s growth plans.
Rick’s Cabaret International Inc. opened it’s first Rick’s Cabaret in Houston in 1983, and went public with its IPO in 1995, making it the world’s first publicly traded topless entertainment business. The Company currently operates under the name “Rick’s” in three locations nationwide, and its 93%-owned subsidiary, Taurus Entertainment Companies, Inc. (OTC BB:TAUR – news) operates a cabaret in Austin, Texas, under the name XTC Cabaret. With the planned opening of a fifth location in June 1999 in San Antonio, Texas that will also operate under the name XTC Cabaret.
Please visit the Company’s web site at www.rickscabaret.com.
This press release contains forward-looking statements that involve a number of risks and uncertainties. Important factors that could cause actual results to differ materially from those indicated include risks and uncertainties related to laws governing the operation of adult entertainment establishments, the timing of the opening of other clubs, the availability of acceptable financing to fund corporate expansion efforts, competitive factors, dependence on key personnel, and the Company’s ability to manage operations. The Company has no obligations to update or revise the forward-looking statements to reflect the occurrence of future events or circumstances.
