Tuesday, May 13, 2008

Houston-based Rick’s Cabaret buys Dallas adult nightclub Platinum Club II

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Houston-based Rick's Cabaret International Inc. will buy Dallas adult nightclub, Platinum Club II, for a total cost of $7.5 million. It will pay $1.5 million for the Platinum Club II and also acquire the accompanying real estate for $6 million. According to the Houston Business Journal, the club will be "rebranded" as a Club Onyx and cater to African-American men.

The club currently generates about $4 million to $5 million in annual revenue.

It's the second Dallas club recently acquired by Rick's, which company purchased The Executive Club on April 16 for $9.5 million.

Posted by T.G.

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