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RCI Hospitality Holdings Inc (NASDAQ:RICK) reported fourth-quarter FY23 sales of $74.1 million for its Nightclubs and Bombshells restaurants, a 5.6% year-on-year increase.
Nightclubs sales totaled $60.5 million, an increase of 7.5% or $4.2 million year-over-year.
Bombshells sales totaled $13.6 million compared to $13.9 million in 4Q22.
"The 4Q23 sales increase primarily reflected the benefit of acquisitions,” said President and CEO Eric Langan.
Sales do not include non-core operations and are preliminary and subject to final closing.
The Houston-based company said 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, Colorado and aims to open both in FY24.
RCI repurchased 32,586 common shares for $2.13 million in Q4, and as of September 30, 2023, it had $16.6 million in available stock repurchase authorization.
Full 4Q23 and Fiscal 2023 financial results are expected on or around December 14.
Price Action: RCI shares are trading higher by 0.47% at $58.26 on the last check Tuesday.
