RCI Hospitality Records 5.6% Revenue Growth In Nightclubs And Bombshells Restaurants

RCI Hospitality Holdings Inc RICK reported fourth-quarter FY23 sales of $74.1 million for its Nightclubs and Bombshells restaurants, a 5.6% year-on-year increase.

Nightclubs sales totaled $60.5 million, an increase of 7.5% or $4.2 million year-over-year.

Bombshells sales totaled $13.6 million compared to $13.9 million in 4Q22. 

"The 4Q23 sales increase primarily reflected the benefit of acquisitions,” said President and CEO Eric Langan.

Sales do not include non-core operations and are preliminary and subject to final closing.

The Houston-based company said gaming and liquor license and building permit processes are continuing for the planned Rick's Cabaret Steakhouse & Casino and Bombshells Sports Casino in Central City, Colorado and aims to open both in FY24.

RCI repurchased 32,586 common shares for $2.13 million in Q4, and as of September 30, 2023, it had $16.6 million in available stock repurchase authorization.

Full 4Q23 and Fiscal 2023 financial results are expected on or around December 14.

Price Action: RCI shares are trading higher by 0.47% at $58.26 on the last check Tuesday.