RCI Declares Regular Quarterly Cash Dividend on Common Stock

HOUSTON – August 3, 2016 – RCI Hospitality Holdings, Inc. (Nasdaq: RICK) announced its Board of Directors has declared a regular quarterly cash dividend of $0.03 per common share for the FY16 fourth quarter ending September 30, 2016 as part of RCI’s $0.12 per share annual cash dividend. The 4Q16 dividend is payable September 26, 2016, to holders of record September 9, 2016, with an ex-dividend date of September 7, 2016.

3Q16 Conference Call Reminder

RCI, as previously announced, will report financial results for the fiscal 2016 third quarter tomorrow, Thursday, August 4, 2016, following the market close and will hold a related conference call at 4:30 PM ET. Live Participant Dial In 877-407-9210(Toll Free) or 201-689-8049(International). For the webcast, click here. Afterward, investors can meet management at Rick’s Cabaret New York, Manhattan’s No. 1 gentlemen’s club, at 6 PM ET.

About RCI Hospitality Holdings, Inc. (Nasdaq: RICK)

With 43 units, RCI Hospitality Holdings, Inc., through its subsidiaries, is the country’s leading company in gentlemen clubs and sports bars/restaurants. Clubs in New York City, 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 bars/restaurants operate under the brand name “Bombshells.” Please visit http://www.rcihospitality.com/

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 cybersecurity, 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. The company has no obligation to update or revise the forward-looking statements to reflect the occurrence of future events or circumstances.

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