This excerpt taken from the RICK 8-K filed Apr 21, 2008.
Langan, President and CEO of the company. “It also provides us with additional diversification of our revenue and income streams while remaining within our core competency.”
"After 17 years operating the adult nightclub industry's only national trade magazine and industry convention, I look forward to being associated with Rick's Cabaret, which as a major industry player has an infrastructure in place that will allow us to take the service we offer to a much higher level," said Mr. Waitt. "We have very exciting new media ventures and national promotions in the works that will benefit Rick’s Cabaret and the industry as a whole, as well as broaden the appeal of adult nightclub entertainment to consumers."
The two groups have combined revenues of over $2 million per year and earnings before income tax, depreciation and amortization (EBITDA) of approximately $670,000. The company believes this will add earnings of approximately $.05 per share on an annualized basis.
Founded in 1991, Exotic Dancer is the only national business magazine serving the 3,800 adult nightclubs in North America, which have annual revenues in excess of $2 billion, according to