RCI (Fort Worth) paid $1m in cash and also transferred to VCG Holding 467,497 shares of VCGH common stock that Rick’s Cabaret had purchased on the open market at 2009. Along with a long-term lease, RCI also acquired an option to buy the property on which the club is located at a price to be determined.

The purchase will bring to seven the number of clubs owned by subsidiaries of Rick’s Cabaret in the Dallas-Fort Worth market, including a turnkey acquisition of a club near the DFW International Airport that is scheduled to be completed at  2011.

Subsidiaries of Rick’s Cabaret now own 21 adult clubs nationwide, including the flagship Rick’s Cabaret in New York City and Tootsie’s Cabaret in Miami Gardens, Florida.

Eric Langan, president and CEO of Rick’s Cabaret, said: “The Jaguar’s Gold Club acquisition is another key addition to the cluster of clubs we have assembled in the vibrant Dallas-Fort Worth market.

“It will add to our purchasing power, marketing advantages, deployment of regional management and other synergies in this market and it is another signal that we are continuing to acquire clubs that will be accretive to our earnings.”

Will the acquisition improve Rick’s Cabaret's revenue?

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