Rick's Cabaret International to Acquire Schiek's Palace Royale Gentlemen's Club in Minneapolis

Rick's Cabaret International, Inc. RICK said today it has signed a letter of intent, subject to execution of definitive documents, to acquire the Minneapolis gentlemen's club currently operating as Schiek's Palace Royale for $3,050,000.

In addition a subsidiary of Rick's Cabaret will pay $3,250,000 to acquire the real estate where Schiek's Palace Royale is located.