Rick's Cabaret International, Inc. Nightclub Sales Rise 12.5 Percent In First Quarter Of 2012 Fiscal Year

HOUSTON – (January 10, 2012) – Rick’s Cabaret International, Inc. (NASDAQ:RICK), the nation’s leading group of premiere gentlemen’s clubs, reported a 12.5 percent increase in revenues from its nightclubs for the first fiscal quarter ending Dec. 31, 2011. Sales rose to $21.7 million from $19.3 million.

Comparable sales at clubs open for more than one year rose by 6.7 percent to $20.6 million.

The overall rise in sales was driven by an 18.5 percent increase in revenues in December, with more modest increases in October and November. The figures do not include sales at the now-closed Rick’s Cabaret in Las Vegas, which was discontinued in April 2011.

“We are very pleased with the growth trend and if it continues we should achieve our goals for the fiscal year,” said Eric Langan, President and CEO of Rick’s Cabaret, which operates 23 clubs nationally. He noted that Rick’s Cabaret/Austin, XTC Cabaret/Dallas, Cabaret East/Ft. Worth, Rick’s Cabaret/San Antonio, and Rick’s Cabaret/Minneapolis all reported strong gains, as did Club Onyx locations in Philadelphia, Charlotte and Houston.

About Rick’s Cabaret: Rick’s Cabaret International, Inc. (NASDAQ: 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, New Orleans, Charlotte, Dallas, Houston, Minneapolis and other cities operate under the names "Rick's Cabaret," "XTC," “Club Onyx” and “Tootsie’s Cabaret”. Sexual contact is not permitted at these locations. Rick’s Cabaret also operates a media division, ED Publications, and owns the adult Internet membership Website couplestouch.com as well as a network of online adult auction sites under the flagship URL naughtybids.com. Rick’s Cabaret common stock is traded on NASDAQ under the symbol RICK. For further information contact ir@ricks.com. 

Forward-looking Statements: Certain statements contained in this release regarding Rick's Cabaret future operating results or performance or business plans or prospects and any other statements not constituting historical fact are "forward-looking statements" subject to the safe harbor created by the Private Securities Litigation Reform Act of 1995. Where possible, the words "believe," "expect," "anticipate," "intent," "would," "will," "planned," "estimated," "potential," "goal," "outlook," and similar expressions, as they relate to the company or its management have been used to identify such forward-looking statements. All forward-looking statements reflect only current beliefs and assumptions with respect to future business plans, prospects, decisions and results, and are based on information currently available to the company. Accordingly, the statements are subject to significant risks, uncertainties and contingencies, which could cause the company‘s actual operating results, performance or business plans or prospects to differ materially from those expressed in, or implied by, these statements. Such risks, uncertainties and contingencies include, but are not limited to, risks and uncertainties associated with (i) operating and managing an adult business, (ii) the business climates in cities where the company operates, (iii) the success or lack thereof in launching and building the company’s businesses, (iv) the operational and financial results of the company's adult nightclubs, (v) conditions relevant to real estate transactions, (vi) the loss of key personnel, and (vii) laws governing the operation of adult entertainment businesses. Additional factors that could cause the company’s results to differ materially from those described in the forward-looking statements are described in forms filed with the SEC from time to time and available at www.ricksinvestor.com  or on the SEC's internet website at www.sec.gov. Unless required by law, Rick's Cabaret does not undertake any obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise.

Contact: Allan Priaulx, 212-338-0050, allan@ricks.com