RCI Announces 32 Locations Have Reopened

RCI Hospitality Holdings, Inc. (NASDAQ: RICK) today announced 32 locations have reopened with the easing of COVID-19 pandemic related restrictions.

As of Friday, May 22, all 10 Bombshells restaurants, which are based in Texas, moved to 50% interior occupancy with no outdoor patio restrictions from 25% with no patio restrictions. Also, as of Friday, 22 of 38 club locations had reopened. In Texas, 21 reopened to limited capacity and schedules. In Arizona, the Phoenix location reopened to 50% occupancy.

Eric Langan, President & CEO, commented, “We’re pleased to announce our subsidiaries’ expanded openings and the rehiring of more employees, while continuing to follow all required practices for the health and well-being of staff and guests.

“Bombshells continue to do very well. We’re optimistic about the performance of other locations based on early results. News reports indicate more states may relax restrictions in June. If so, our subsidiaries should be able to reopen more locations. As they do, and as reopened locations are allowed to expand their business, we look forward to returning to profitability.”