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HomeTourismRCI Reports 2Q24 Results; X Spaces Call at 4:30 PM ET Today;...

RCI Reports 2Q24 Results; X Spaces Call at 4:30 PM ET Today; Meet Management at 7 PM ET Tonight

Summary Financials (in millions except EPS)

2Q24

2Q23

6M24

6M23

Total revenues

$72.3

$71.5

$146.2

$141.5

EPS

$0.08

$0.83

$0.85

$1.94

Non-GAAP EPS1

$0.90

$1.30

$1.76

$2.50

Other charges, net

$8.2

$3.8

$8.2

$3.1

Net cash from operating activities

$10.8

$16.8

$24.5

$31.7

Free cash flow1

$8.8

$14.8

$21.5

$27.8

Net income attributable to RCIHH common stockholders

$0.8

$7.7

$8.0

$18.0

Adjusted EBITDA1

$17.2

$21.7

$34.7

$42.1

Weighted average shares used in computing EPS – basic and diluted

9.35

9.27

9.36

9.25

1 See “Non-GAAP Financial Measures” below

Eric Langan, President and CEO, said:

“Despite this uncertain economy, the core strength of our business enabled RCI to generate $72.3 million in revenue in 2Q24 compared to $71.5 million last year. While GAAP EPS of $0.08 primarily reflected $8.0 million in non-cash impairment, non-GAAP EPS totaled $0.90, near the high end of expectations.”

“The Nightclubs segment generated $59.4 million in revenue in 2Q24 compared to $57.0 million last year. Separately, the effort begun mid-February to improve the Bombshells segment resulted in steady sales and better margins on a sequential quarter basis. In addition, we continued to make progress developing new locations and upgrading existing ones to further grow RCI.”

“We’re committed to following our capital allocation strategy, concentrating on our core nightclubs business, evaluating potential acquisitions, and buying back stock. Subsequent to the end of the quarter, we increased our cash position $20 million by closing on our planned bank loan.”

Conference Call at 4:30 PM ET Today

Meet Management at 7:00 PM ET Tonight

  • Investors are invited to meet management at one of RCI’s top revenue generating clubs
  • Rick’s Cabaret New York, 50 W 33rd Street, New York, NY 10001
  • RSVP your contact information to [email protected] by 5 PM today 

2Q24 Results (Comparisons are to the year-ago period unless indicated otherwise)

  • Nightclubs segment: Revenues were $59.4 million compared to $57.0 million. The $2.4 million increase reflected the benefit of acquisitions not in same-store sales (SSS), which more than offset declines from SSS and clubs reopened, reformatted or closed during or prior to the quarter.2 By revenue type, alcoholic beverages increased 16.9% and food, merchandise and other increased 7.8%, while service declined 8.3%. The differing growth rates primarily reflected a higher alcohol and lower service sales mix from the recently acquired clubs and lower SSS. Impairment totaled $8.0 million compared to $0.7 million, resulting in operating income of $11.0 million (18.6% of revenues) compared to $18.0 million (31.6% of revenues). On a non-GAAP basis, operating income was $19.8 million (33.4% of revenues) compared to $22.4 million (39.3% of revenues). The non-GAAP margin decline primarily reflected lower service revenues, wage inflation, and the Texas patron tax increase, which doubled to $10 per customer.
  • Bombshells segment: Revenues were $12.8 million compared to $14.3 million. The $1.5 million decline reflected lower SSS, partially offset by increases from FY23 acquisitions not in SSS and a new location.2 Operating income was $0.7 million (5.5% of revenues) compared to $1.8 million (12.4% of revenues). On a non-GAAP basis, operating income was $0.8 million (5.9% of revenues) compared to $2.2 million (15.4% of revenues). The decline in profitability primarily reflected lower SSS.
  • Corporate segment: Expenses totaled $6.8 million (9.4% of total revenues) compared to $6.2 million (8.6% of total revenues). On a non-GAAP basis, expenses totaled $6.3 million (8.8% of total revenues) compared to $5.5 million (7.7% of total revenues). The expense increase primarily reflected more corporate level management, accounting and professional services due to recently acquired clubs and new projects.
  • Interest expense was 5.5% of revenues compared to 5.1%. The increase reflected higher rate debt from seller-financed promissory notes related to FY23 acquisitions.
  • Effective tax rate was 0.7% compared to 21.8%.
  • Weighted average shares outstanding increased 0.9% year over year due to shares used in the 2Q23 Baby Dolls-Chicas Locas acquisition, partially offset by subsequent share buybacks.
  • Share repurchases totaled 27,265 shares for $1.5 million or an average of $56.12 per share, bringing the 6M24 total to 65,219 repurchased shares for $3.6 million or an average of $55.23 per share. There was $13.0 million in remaining repurchase authorization at March 31, 2024.
  • Debt was $231.9 million at March 31, 2024 compared to $234.1 million at December 31, 2023. The reduction reflected scheduled paydowns.

2 See our April 9, 2024, news release on 2Q24 sales for more details

Non-GAAP Financial Measures

In addition to our financial information presented in accordance with GAAP, management uses certain non-GAAP financial measures, within the meaning of the SEC Regulation G, to clarify and enhance understanding of past performance and prospects for the future. Generally, a non-GAAP financial measure is a numerical measure of a company’s operating performance, financial position or cash flows that excludes or includes amounts that are included in or excluded from the most directly comparable measure calculated and presented in accordance with GAAP. We monitor non-GAAP financial measures because it describes the operating performance of the Company and helps management and investors gauge our ability to generate cash flow, excluding (or including) some items that management believes are not representative of the ongoing business operations of the Company, but are included in (or excluded from) the most directly comparable measures calculated and presented in accordance with GAAP. Relative to each of the non-GAAP financial measures, we further set forth our rationale as follows:

  • Non-GAAP Operating Income and Non-GAAP Operating Margin. We calculate non-GAAP operating income and non-GAAP operating margin by excluding the following items from income from operations and operating margin: (a) amortization of intangibles, (b) impairment of assets, (c) settlement of lawsuits, (d) gains or losses on sale of businesses and assets, (e) gains or losses on insurance, and (f) stock-based compensation. We believe that excluding these items assists investors in evaluating period-over-period changes in our operating income and operating margin without the impact of items that are not a result of our day-to-day business and operations.
  • Non-GAAP Net Income and Non-GAAP Net Income per Diluted Share. We calculate non-GAAP net income and non-GAAP net income per diluted share by excluding or including certain items to net income attributable to RCIHH common stockholders and diluted earnings per share. Adjustment items are: (a) amortization of intangibles, (b) impairment of assets, (c) settlement of lawsuits, (d) gains or losses on sale of businesses and assets, (e) gains or losses on insurance, (f) stock-based compensation, and (g) the income tax effect of the above-described adjustments. Included in the income tax effect of the above adjustments is the net effect of the non-GAAP provision for income taxes, calculated at 18.4% and 22.3% effective tax rate of the pre-tax non-GAAP income before taxes for the six months ended March 31, 2024 and 2023, respectively, and the GAAP income tax expense (benefit). We believe that excluding and including such items help management and investors better understand our operating activities.
  • Adjusted EBITDA. We calculate adjusted EBITDA by excluding the following items from net income attributable to RCIHH common stockholders: (a) depreciation and amortization, (b) impairment of assets, (c) income tax expense (benefit), (d) net interest expense, (e) settlement of lawsuits, (f) gains or losses on sale of businesses and assets, (g) gains or losses on insurance, and (h) stock-based compensation. We believe that adjusting for such items helps management and investors better understand our operating activities. Adjusted EBITDA provides a core operational performance measurement that compares results without the need to adjust for federal, state and local taxes which have considerable variation between domestic jurisdictions. The results are, therefore, without consideration of financing alternatives of capital employed. We use adjusted EBITDA as one guideline to assess our unleveraged performance return on our investments. Adjusted EBITDA is also the target benchmark for our acquisitions of nightclubs.
  • We also use certain non-GAAP cash flow measures such as free cash flow. Free cash flow is derived from net cash provided by operating activities less maintenance capital expenditures. We use free cash flow as the baseline for the implementation of our capital allocation strategy.

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

With more than 60 locations, RCI Hospitality Holdings, Inc., through its subsidiaries, is the country’s leading company in adult nightclubs and sports bars-restaurants. See all our brands at 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, including, but not limited to, the risks and uncertainties associated with (i) operating and managing an adult entertainment or restaurant business, (ii) the business climates in cities where it operates, (iii) the success or lack thereof in launching and building the company’s businesses, (iv) cyber security, (v) conditions relevant to real estate transactions, (vi) the impact of the COVID-19 pandemic, and (vii) numerous other factors such as laws governing the operation of adult entertainment or restaurant businesses, competition and dependence on key personnel. For more detailed discussion of such factors and certain risks and uncertainties, see RCI’s annual report on Form 10-K for the year ended September 30, 2023, as well as its other filings with the U.S. Securities and Exchange Commission. The company 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 [email protected] and [email protected]

RCI HOSPITALITY HOLDINGS, INC.

CONSOLIDATED STATEMENTS OF INCOME

(in thousands, except per share, number of shares and percentage data)











For the Three Months Ended

For the Six Months Ended


March 31, 2024

March 31, 2023

March 31, 2024

March 31, 2023


Amount

% of
Revenue

Amount

% of
Revenue

Amount

% of
Revenue

Amount

% of
Revenue

Revenues









Sales of alcoholic beverages

$             32,907

45.5 %

$             30,136

42.1 %

$             66,223

45.3 %

$             59,786

42.3 %

Sales of food and merchandise

11,068

15.3 %

11,005

15.4 %

21,870

15.0 %

21,352

15.1 %

Service revenues

23,564

32.6 %

25,690

35.9 %

48,683

33.3 %

51,253

36.2 %

Other

4,744

6.6 %

4,686

6.6 %

9,414

6.4 %

9,094

6.4 %

Total revenues

72,283

100.0 %

71,517

100.0 %

146,190

100.0 %

141,485

100.0 %

Operating expenses









Cost of goods sold









Alcoholic beverages sold

5,891

17.9 %

5,365

17.8 %

12,172

18.4 %

10,739

18.0 %

Food and merchandise sold

3,993

36.1 %

3,737

34.0 %

8,031

36.7 %

7,323

34.3 %

Service and other

35

0.1 %

16

0.1 %

75

0.1 %

65

0.1 %

Total cost of goods sold (exclusive of items shown below)

9,919

13.7 %

9,118

12.7 %

20,278

13.9 %

18,127

12.8 %

Salaries and wages

20,975

29.0 %

19,428

27.2 %

42,307

28.9 %

38,104

26.9 %

Selling, general and administrative

24,653

34.1 %

22,026

30.8 %

49,854

34.1 %

44,758

31.6 %

Depreciation and amortization

3,884

5.4 %

3,760

5.3 %

7,737

5.3 %

7,067

5.0 %

Other charges, net

8,195

11.3 %

3,758

5.3 %

8,192

5.6 %

3,104

2.2 %

Total operating expenses

67,626

93.6 %

58,090

81.2 %

128,368

87.8 %

111,160

78.6 %

Income from operations

4,657

6.4 %

13,427

18.8 %

17,822

12.2 %

30,325

21.4 %

Other income (expenses)









Interest expense

(3,999)

(5.5) %

(3,677)

(5.1) %

(8,215)

(5.6) %

(7,364)

(5.2) %

Interest income

96

0.1 %

90

0.1 %

190

0.1 %

181

0.1 %

Income before income taxes

754

1.0 %

9,840

13.8 %

9,797

6.7 %

23,142

16.4 %

Income tax expense 

5

0.0 %

2,147

3.0 %

1,804

1.2 %

5,178

3.7 %

Net income

749

1.0 %

7,693

10.8 %

7,993

5.5 %

17,964

12.7 %

Net loss attributable to noncontrolling interests

25

0.0 %

39

0.1 %

7

0.0 %

6

0.0 %

Net income attributable to RCIHH common shareholders

$                  774

1.1 %

$               7,732

10.8 %

$               8,000

5.5 %

$             17,970

12.7 %










Earnings per share









Basic and diluted

$                 0.08


$                 0.83


$                 0.85


$                 1.94











Weighted average shares used in computing earnings per share









Basic and diluted

9,350,292


9,265,781


9,358,768


9,247,824











RCI HOSPITALITY HOLDINGS, INC.

SEGMENT INFORMATION

(in thousands)







For the Three Months Ended

For the Six Months Ended


March 31, 2024

March 31, 2023

March 31, 2024

March 31, 2023

Revenues





Nightclubs

$             59,372

$             57,031

$           120,405

$           113,356

Bombshells

12,771

14,315

25,502

27,746

Other

140

171

283

383


$             72,283

$             71,517

$           146,190

$           141,485






Income (loss) from operations





Nightclubs

$             11,021

$             17,995

$             31,390

$             40,735

Bombshells

699

1,775

785

3,622

Other

(277)

(168)

(473)

(353)

Corporate

(6,786)

(6,175)

(13,880)

(13,679)


$               4,657

$             13,427

$             17,822

$             30,325






RCI HOSPITALITY HOLDINGS, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)







For the Three Months Ended

For the Six Months Ended


March 31, 2024

March 31, 2023

March 31, 2024

March 31, 2023

CASH FLOWS FROM OPERATING ACTIVITIES





Net income

$                       749

$                    7,693

$                    7,993

$                  17,964

Adjustments to reconcile net income to net cash provided by operating activities:





Depreciation and amortization

3,884

3,760

7,737

7,067

Impairment of assets

8,033

662

8,033

662

Deferred income tax benefit

(1,911)

(1,911)

Loss (gain) on sale of businesses and assets

40

(3)

37

(689)

Amortization and writeoff of debt discount and issuance costs

149

147

312

291

Doubtful accounts expense on notes receivable

22

Gain on insurance

(27)

(91)

Noncash lease expense

773

744

1,535

1,463

Stock-based compensation

471

706

941

1,647

Changes in operating assets and liabilities, net of business acquisitions:





Accounts receivable

(162)

(739)

1,067

708

Inventories

76

173

(142)

79

Prepaid expenses, other current, and other assets

2,609

1,503

(6,420)

(5,705)

Accounts payable, accrued, and other liabilities

(3,875)

2,170

5,265

8,288

Net cash provided by operating activities

10,836

16,789

24,469

31,684

CASH FLOWS FROM INVESTING ACTIVITIES





Proceeds from sale of businesses and assets

26

2,810

Proceeds from insurance

27

91

Proceeds from notes receivable

61

58

116

113

Payments for property and equipment and intangible assets

(7,667)

(9,537)

(12,802)

(22,090)

Acquisition of businesses, net of cash acquired

(25,000)

(29,000)

Net cash used in investing activities

(7,606)

(34,426)

(12,686)

(48,076)

CASH FLOWS FROM FINANCING ACTIVITIES





Proceeds from debt obligations

1,956

10,095

2,657

11,595

Payments on debt obligations

(4,278)

(3,120)

(10,630)

(6,481)

Purchase of treasury stock

(1,530)

(3,602)

(98)

Payment of dividends

(560)

(553)

(1,122)

(1,015)

Payment of loan origination costs

(109)

(136)

(205)

Share in return of investment by noncontrolling partner

(600)

Net cash provided by (used in) financing activities

(4,412)

6,313

(12,833)

3,196

NET DECREASE IN CASH AND CASH EQUIVALENTS

(1,182)

(11,324)

(1,050)

(13,196)

CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD

21,155

34,108

21,023

35,980

CASH AND CASH EQUIVALENTS AT END OF PERIOD

$                  19,973

$                  22,784

$                  19,973

$                  22,784






RCI HOSPITALITY HOLDINGS, INC.

CONSOLIDATED BALANCE SHEETS

(in thousands)






March 31, 2024

September 30, 2023

March 31, 2023

ASSETS




Current assets




Cash and cash equivalents

$                  19,973

$                    21,023

$                  22,784

Accounts receivable, net

8,779

9,846

6,755

Current portion of notes receivable

265

249

239

Inventories

4,554

4,412

4,571

Prepaid expenses and other current assets

8,387

1,943

6,870

Assets held for sale

74

Total current assets

42,032

37,473

41,219

Property and equipment, net

288,224

282,705

295,861

Operating lease right-of-use assets, net

33,396

34,931

37,244

Notes receivable, net of current portion

4,289

4,443

4,569

Goodwill

67,862

70,772

84,051

Intangibles, net

172,728

179,145

156,331

Other assets

1,362

1,415

1,856

Total assets

$                609,893

$                  610,884

$                621,131





LIABILITIES AND EQUITY




Current liabilities




Accounts payable

$                    5,632

$                      6,111

$                    7,743

Accrued liabilities

22,597

16,051

20,958

Current portion of debt obligations, net

25,072

22,843

21,016

Current portion of operating lease liabilities

3,098

2,977

2,951

Total current liabilities

56,399

47,982

52,668

Deferred tax liability, net

27,232

29,143

30,936

Debt, net of current portion and debt discount and issuance costs

206,853

216,908

224,751

Operating lease liabilities, net of current portion

33,593

35,175

36,429

Other long-term liabilities

317

352

383

Total liabilities

324,394

329,560

345,167





Commitments and contingencies








Equity




Preferred stock

Common stock

93

94

94

Additional paid-in capital

77,742

80,437

85,082

Retained earnings

207,928

201,050

190,905

Total RCIHH stockholders’ equity

285,763

281,581

276,081

Noncontrolling interests

(264)

(257)

(117)

Total equity

285,499

281,324

275,964

Total liabilities and equity

$                609,893

$                  610,884

$                621,131





RCI HOSPITALITY HOLDINGS, INC.

NON-GAAP FINANCIAL MEASURES

(in thousands, except per share and percentage data)







For the Three Months Ended

For the Six Months Ended


March 31, 2024

March 31, 2023

March 31, 2024

March 31, 2023

Reconciliation of GAAP net income to Adjusted EBITDA





Net income attributable to RCIHH common stockholders

$                  774

$               7,732

$               8,000

$             17,970

Income tax expense

5

2,147

1,804

5,178

Interest expense, net

3,903

3,587

8,025

7,183

Depreciation and amortization

3,884

3,760

7,737

7,067

Impairment of assets

8,033

662

8,033

662

Settlement of lawsuits

167

3,120

167

3,120

Loss (gain) on sale of businesses and assets

(5)

3

(8)

(587)

Gain on insurance

(27)

(91)

Stock-based compensation

471

706

941

1,647

Adjusted EBITDA

$             17,232

$             21,690

$             34,699

$             42,149






Reconciliation of GAAP net income to non-GAAP net income





Net income attributable to RCIHH common stockholders

$                  774

$               7,732

$               8,000

$             17,970

Amortization of intangibles

640

1,109

1,299

1,804

Impairment of assets

8,033

662

8,033

662

Settlement of lawsuits

167

3,120

167

3,120

Stock-based compensation

471

706

941

1,647

Loss (gain) on sale of businesses and assets

(5)

3

(8)

(587)

Gain on insurance

(27)

(91)

Net income tax effect

(1,701)

(1,246)

(1,921)

(1,446)

Non-GAAP net income

$               8,379

$             12,059

$             16,511

$             23,079






Reconciliation of GAAP diluted earnings per share to non-GAAP diluted earnings per share





Diluted shares

9,350,292

9,265,781

9,358,768

9,247,824

GAAP diluted earnings per share

$                 0.08

$                 0.83

$                 0.85

$                 1.94

Amortization of intangibles

0.07

0.12

0.14

0.20

Impairment of assets

0.86

0.07

0.86

0.07

Settlement of lawsuits

0.02

0.34

0.02

0.34

Stock-based compensation

0.05

0.08

0.10

0.18

Loss (gain) on sale of businesses and assets

0.00

0.00

0.00

(0.06)

Gain on insurance

0.00

0.00

0.00

(0.01)

Net income tax effect

(0.18)

(0.13)

(0.21)

(0.16)

Non-GAAP diluted earnings per share

$                 0.90

$                 1.30

$                 1.76

$                 2.50






Reconciliation of GAAP operating income to non-GAAP operating income





Income from operations

$               4,657

$             13,427

$             17,822

$             30,325

Amortization of intangibles

640

1,109

1,299

1,804

Impairment of assets

8,033

662

8,033

662

Settlement of lawsuits

167

3,120

167

3,120

Loss (gain) on sale of businesses and assets

(5)

3

(8)

(587)

Gain on insurance

(27)

(91)

Stock-based compensation

471

706

941

1,647

Non-GAAP operating income

$             13,963

$             19,000

$             28,254

$             36,880






Reconciliation of GAAP operating margin to non-GAAP operating margin





Income from operations

6.4 %

18.8 %

12.2 %

21.4 %

Amortization of intangibles

0.9 %

1.6 %

0.9 %

1.3 %

Impairment of assets

11.1 %

0.9 %

5.5 %

0.5 %

Settlement of lawsuits

0.2 %

4.4 %

0.1 %

2.2 %

Loss (gain) on sale of businesses and assets

(0.0) %

0.0 %

(0.0) %

(0.4) %

Gain on insurance

0.0 %

(0.0) %

0.0 %

(0.1) %

Stock-based compensation

0.7 %

1.0 %

0.6 %

1.2 %

Non-GAAP operating margin

19.3 %

26.6 %

19.3 %

26.1 %






Reconciliation of net cash provided by operating activities to free cash flow





Net cash provided by operating activities

$             10,836

$             16,789

$             24,469

$             31,684

Less: Maintenance capital expenditures

2,011

2,021

2,994

3,885

Free cash flow

$               8,825

$             14,768

$             21,475

$             27,799






RCI HOSPITALITY HOLDINGS, INC.

NON-GAAP SEGMENT INFORMATION

($ in thousands)













For the Three Months Ended March 31, 2024

For the Three Months Ended March 31, 2023


Nightclubs

Bombshells

Other

Corporate

Total

Nightclubs

Bombshells

Other

Corporate

Total

Income (loss) from operations

$        11,021

$             699

$           (277)

$        (6,786)

$          4,657

$        17,995

$          1,775

$           (168)

$        (6,175)

$        13,427

Amortization of intangibles

589

47

4

640

628

417

60

4

1,109

Impairment of assets

8,033

8,033

662

662

Settlement of lawsuits

167

167

3,117

3

3,120

Stock-based compensation

471

471

706

706

Loss (gain) on sale of businesses and assets

7

4

(16)

(5)

(12)

16

(1)

3

Gain on insurance

(27)

(27)

Non-GAAP operating income (loss)

$        19,817

$             750

$           (277)

$        (6,327)

$        13,963

$        22,390

$          2,211

$           (108)

$        (5,493)

$        19,000












GAAP operating margin

18.6 %

5.5 %

(197.9) %

(9.4) %

6.4 %

31.6 %

12.4 %

(98.2) %

(8.6) %

18.8 %

Non-GAAP operating margin

33.4 %

5.9 %

(197.9) %

(8.8) %

19.3 %

39.3 %

15.4 %

(63.2) %

(7.7) %

26.6 %













For the Six Months Ended March 31, 2024

For the Six Months Ended March 31, 2023


Nightclubs

Bombshells

Other

Corporate

Total

Nightclubs

Bombshells

Other

Corporate

Total

Income (loss) from operations

$        31,390

$             785

$           (473)

$      (13,880)

$        17,822

$        40,735

$          3,622

$           (353)

$      (13,679)

$        30,325

Amortization of intangibles

1,180

110

9

1,299

1,256

419

121

8

1,804

Impairment of assets

8,033

8,033

662

662

Settlement of lawsuits

167

167

3,117

3

3,120

Stock-based compensation

941

941

1,647

1,647

Loss (gain) on sale of businesses and assets

6

4

(18)

(8)

(581)

16

(22)

(587)

Gain on insurance

(48)

(43)

(91)

Non-GAAP operating income (loss)

$        40,776

$             899

$           (473)

$      (12,948)

$        28,254

$        45,141

$          4,060

$           (232)

$      (12,089)

$        36,880












GAAP operating margin

26.1 %

3.1 %

(167.1) %

(9.5) %

12.2 %

35.9 %

13.1 %

(92.2) %

(9.7) %

21.4 %

Non-GAAP operating margin

33.9 %

3.5 %

(167.1) %

(8.9) %

19.3 %

39.8 %

14.6 %

(60.6) %

(8.5) %

26.1 %












SOURCE RCI Hospitality Holdings, Inc.

Originally published at https://www.prnewswire.com/news-releases/rci-reports-2q24-results-x-spaces-call-at-430-pm-et-today-meet-management-at-7-pm-et-tonight-302141742.html
Images courtesy of https://pixabay.com

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