RCI Hospitality reports Q4 club & restaurant sales up 5.6% y-o-y

RCI Hospitality reported sales for its Nightclubs and Bombshells restaurants of $74.1M, an increase of 5.6% year over year, for Q4. Sales totaled $60.5M, an increase of 7.5% or $4.2M year-over-year. Contributing to the increase were $9.2M from FY22-FY23 acquisitions not in same-store sales and $0.8M from reformatted clubs not in SSS. This was partially offset by a SSS decline of 9.6% or $5.1M and a $0.7M decrease from clubs closed prior to 4Q23. Bombshells sales totaled $13.6M compared to $13.9M in 4Q22. The gaming and liquor license and building permit processes are continuing for the planned Rick‘s Cabaret Steakhouse & Casino and Bombshells Sports Casino in Central City, CO.