Friday, March 04, 2022
RCI Hospitality (RICK)
Now Accepting Bitcoin; Raises Dividend
RCI Hospitality Holdings, Inc. through its subsidiaries owns and operates establishments that offer live adult entertainment, restaurant, and/or bar operations. The company also owns and operates a communication company serving the adult nightclubs industry. RCI’s operating business segments includes Nightclubs and Bombshells restaurants and bars. It operates nightclubs through the following brands: Rick’s Cabaret, Vivid Cabaret, Tootsie’s Cabaret, Club Onyx, and Jaguars Club. In the restaurants segment, the company is building a chain of Bombshells Restaurants and Sports Bars in Dallas, Austin, and Houston, Texas.
Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Pay By Bitcoin. Earlier this week, RCI announced its Tootsie’s Cabaret and Scarlett’s Cabaret Miami locations will be the first of RCI’s subsidiaries to accept Bitcoin as payment. Guests can now pay using Bitcoin wallet apps on their mobile phones. The Bitcoin will be converted into fiat cash. We believe the move provides even greater opportunity not only for payment options but possibly to attract more of the crypto crowd to the locations. Depending on the experience, we would anticipate other locations to begin accepting Bitcoin in the future.
In Time For Bitcoin 2022. The announcement comes just before Bitcoin 2022, the world’s largest gathering of “bitcoiners,” with over 35,000 attendees in 2021. Bitcoin 2022 is being held April 6-9 in Miami, an easy drive to the Tootsie’s and Scarlett’s locations …
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.