Rick's Cabaret International announces sale of plane

HOUSTON, TX – March 18, 2014 --  Rick’s Cabaret International, Inc. (NasdaqGM: RICK) today announced that its wholly owned subsidiary, TT Leasing, LLC, has sold its 2013 Cessna TTx aircraft. 

The Cessna TTx, a single engine, four place, piston aircraft, was purchased in July of 2013.  The company realized a small profit from the transaction. 

Rick’s also reported that it has listed for sale its 2010 Cessna Citation Mustang.  Recent market research indicates a tight supply of late model Mustangs, and the company expects the aircraft to sell in the near future.

 

About Rick’s Cabaret
With 43 units, Rick’s Cabaret International, Inc. (NasdaqGM: RICK) is the leading hospitality company operating adult gentlemen’s clubs and sports bar/restaurants in the US. Adult clubs in New York City, Los Angeles, Miami, Philadelphia, Charlotte, Dallas/Ft. Worth, Houston, Minneapolis, Indianapolis and other cities operate under brand names such as “Rick's Cabaret,” “XTC,” “Club Onyx,” “Vivid Cabaret,” “Jaguars” and “Tootsie’s Cabaret.” Sports bar/restaurants, which also feature live entertainment, operate under the brand names “Bombshells” and “Ricky Bobby Sports Saloon.”

For More Information

·         Web: http://www.ricksinvestor.com

·         Twitter: https://twitter.com/rickscabaretinc

·         Facebook: https://www.facebook.com/rickscabaretintl

Forward-looking Statements
This press release may contain forward-looking statements that involve a number of risks and uncertainties that could cause the company’s actual results to differ materially from those indicated in this press release, including the risks and uncertainties associated with operating and managing an adult business, the business climates in cities where it operates, the success or lack thereof in launching and building the company’s businesses, risks and uncertainties related to the operational and financial results of our Web sites, conditions relevant to real estate transactions, and numerous other factors such as laws governing the operation of adult entertainment businesses, competition and dependence on key personnel. Rick's has no obligation to update or revise the forward-looking statements to reflect the occurrence of future events or circumstances.

Media & Investor Contacts

Gary Fishman and Steven Anreder at 212-532-3232 or gary.fishman@anreder.com and steven.anreder@anreder.com