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SOURCE Rick's Cabaret International, Inc.
NEW YORK, March 19, 2013 /PRNewswire/ -- Rick's Cabaret International, Inc. (NasdaqGM:RICK), the premier publicly traded group of gentlemen's clubs, has obtained a license from Vivid Entertainment, the world's leading adult film company, to use Vivid Cabaret as the name for its new midtown Manhattan venue. The agreement marks the first time Rick's Cabaret has licensed a third party brand name for one of its clubs and the first time Vivid has licensed its name for a gentlemen's club.
The Manhattan cabaret is located at 61 West 37th Street between Fifth and Sixth Avenues in New York City's fashion district. It is near Bryant Park, Fifth Avenue shopping, numerous leading hotels, and is an easy walk from Times Square. A subsidiary of Rick's Cabaret earlier this month finalized the purchase of the business. The building is currently undergoing renovation and is expected to open by October.
"Vivid is by far the finest adult company and has great brand-name awareness," said Eric Langan, President and CEO of Rick's Cabaret. "Using the Vivid name fits perfectly with our 'cabaret concept,' which features a little trendier music and feels as much like a nightclub as a strip club in terms energy level. The New York City club will be a perfect complement to our flagship Rick's Cabaret just four blocks away, and we'll be able to cross-promote seamlessly."
"We've worked with Rick's Cabaret for several years on various promotions but licensing our name certainly takes the relationship to a dramatic new level. We want to work with only elite gentlemen's clubs and Rick's certainly meets that test. We could not be more excited to work with their team," said Vivid founder/co-chairman Steven Hirsch. "We'll be able to promote Vivid Cabaret on VividTV, which will reach over 40-million households by the time the club opens this Fall. Vivid performers will make appearances at the club and we'll also hold movie auditions there. Our fans will love Vivid Cabaret," he added.
Vivid is the strongest internationally recognized franchise of the modern adult entertainment era. The company is best known for the distribution of high quality movies sold in more than 50 countries, including the best-selling Vivid SuperXXXheroes parodies, Vivid-Ed educational adult videos and Vivid-Alt videos, plus the famous Vivid-Celeb sex tapes featuring well-known celebrities. The company was a pioneer in signing top actresses to exclusive contracts with its world famous Vivid Girls. Its Vivid .com website continues to attract new subscribers. More recently the company introduced the VividTV network, the VividTouch mobile app and Vivid Cams. The company's licensed products range from Vivid Vodka to Vivid Condoms. Vivid has the largest adult film archive of any studio and is the most awarded company in the history of the industry. According to Adult Video News founder Paul Fishbein, "Steven Hirsch and Vivid have single-handedly moved adult entertainment into the mainstream."
About Rick's Cabaret: Rick's Cabaret International, Inc. (NasdaqGM: RICK) is home to upscale adult nightclubs serving primarily businessmen and professionals that offer live entertainment, dining and bar operations. Nightclubs in New York City, Miami, Philadelphia, Charlotte, Dallas/Ft. Worth, Houston, Minneapolis, Indianapolis and other cities are named "Rick's Cabaret," "XTC," "Club Onyx" and "Tootsie's Cabaret" and other brand names. Sexual contact is not permitted at any locations. Rick's Cabaret also operates a media division, ED Publications. Rick's Cabaret common stock is traded on NASDAQ under the symbol RICK. For further information contact firstname.lastname@example.org or visit www.ricksinvestor.com. Twitter: @rickscabaret; Facebook: http://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. For further information visit www.ricksinvestor.com.
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