RICK - Earnings call transcript Q4 2019 | RCI Hospitality Holdings, Inc.

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Operator

Greetings, and welcome to RCI Hospitality Holdings conference call and webcast. [Operator Instructions].

It is now my pleasure to introduce Gary Fishman, who handles Investor Relations for RCI. Please go ahead, sir.

Gary Fishman

Thank you.

under listening our call website, presentation and Information you you the click of Investor find logo. can on just those to on this phone, Company For RCI the the RCI will down little links scroll for you info the call. find a the and and Company That Investor take page, this all you'll necessary to

reminds at risks to from please you results involve that that call and safe harbor disclaim information it. uncertainties. our anticipated. turn as everybody currently remind this you of conference hear I may to Now any materially developments you our read that's a that Slide differ the posted in or afterwards. to to presentation. statements of update urge disclosed of occur may We X. obligation It I want Actual those call forward-looking beginning statement see result

in measurements release.And of Please use and turn the to to explanation included presentation Slide you X. that Slide X. we direct turn to also our and non-GAAP I are please news

GAAP today's versions in tables we'll and that of charts X using comparable be presentation. are Here

Finally, for to p.m. Fifth check. -- investors Cabaret address at tonight Street the XXrd XX me ask X:XX at is West the and at from York Broadway, can between management New meet X:XX Rick's coat

I'm to President And introduce and Langan, CEO Eric Eric? pleased of RCI Hospitality.

Eric Langan

the CFO, Phil our Also Marshall; call, Thanks Controller, Gary. on Thanks, our Bradley joining us Chhay. today. for and

to of to in shareholders worked, done, staff hours put like all who to like especially have a our including auditors in our year. XXXX I'd for fiscal new effort thank our hard get make financial great our team call, the and long to the thank us. start and we they to nights filings weekends, work our continued their believe Before and they I'd and for

that's expected that's in up year-over-year. cash revenue right as reported Please for we turn XXXX, our $X.XX $X.XX we year what for December. the in $XXX.X reported X.X% million total After up in and had XX.X% line Slide the in X. We We closed, at do free preannounced fiscal million, to EPS GAAP in non-GAAP. XX-K with market filed and $XX.X to of year-over-year flow came February.

came it and quarter, GAAP $X.XX the non-GAAP. at in $X.XX For

reaudited fiscal 'XX the conjunction and with had We fiscal 'XX 'XX in audit. fiscal

issued auditors or fiscal opinion statements. those unqualified Our an for statement those for financial

X We internal month. quarter are of control preparing and also now X resolved our for issues out filing later XX-Q first this

quarter, and from anticipate big In we associated sales January. already quarter. 'XX. a total club in the were first ahead, the reported many Looking second strong We our fight restaurant with of clubs XX% in MMA fiscal the benefited business up added

in to Florida with We Our Northeast February. sales in rebound. expect from That continue well. acquisition includes quarter. York March And same-store close the college margins look to our opened expect additional we football to basketball Bombshells this championship doing New which and good championship clubs benefited our we Corridor X January, continue are The to newest, and new in forward Houston. pro and in business a to stop associated

and have million that properties in excess of we sell $X.X about process more contract addition, to In the in marketing. are even under we

X% X. acquisitions. almost sales Chicago Please up segment our Pittsburgh to due to and Nightclubs turn were Slide

sales sales strong same-store total We also close Bombshells of up XXXX. had were some growth top a XX%. very fiscal on to

same-store first X sales months. offset during than more declines units New the

about performance and preopening the $X factor key was and basis, related $X performance lower million. The improved increased by higher operating in legal in costs. higher was million. a Bombshells This profit Bombshells charges. to costs This profit due improved On was and audit partially offset and non-GAAP operating other GAAP Nightclubs. Nightclubs increased

and the key X, Turning Bombshells operating segment the at in out margins ago. point a versus year XX.X% rebound like year-over-year X.X% to the is non-GAAP X.X% at I'd thing Slide same-store to sales

proceeds of than record Slide assets, that part X, sell our most to in up total debt generated $X.X we to excess million We in million related as pay $X to more down $X.X of in million and used it of gains. efforts cash. Turning in XXXX,

As $X.X plan monetize lease. in all the and excess bought that we some market effort contract And around excess earlier, $X either a assets years ago When mentioned conclude them, this we should the under properties property to have of to excess Bombshells. our X close I or properties we started few our we sell. of million approximately new in have we about remaining X sell value million with we to

Please We're to that in we new Nightclubs have resource legal installed begin on Slide was with work and auditing front must our get We planning, or is to beginning when should the had the the a costs still to enterprise leverage in We happen years seeing been X. to That's 'XX. of half corporate turnaround basis. we and fall turn pleased operating when second Bombshells. progress year-over-year we what fiscal this several ERP, on begin see to some ago. related costs with system. That should on anticipated the

acquisition. few but Please Corridor our promising turn on the that deal to of enough XX. and club Slide club must for regarding fit attractive seen well-established it make this the and acquisitions opportunities for Northeast look to focused 'XX, most integrating closing parameters pursue. a to fiscal us I we We've our but already covered are then

locations open with Slide Houston, city. X around turn in to X our total that XX. January, the completed a in giving opening late of pleased to in Please Greater and stores plan of we have XX report Bombshells us new I'm the X-year to

between the map, have populous inner in X we X locations the locations can from the you outer As and areas fastest-growing and loops see this suburbs. in

a them. XX-minute between of good All of stores driving freeway our have time

Turning to XX. Slide

and accomplished feel in look what refined and remodeled also Dallas, have Based In giving first of believe square Bombshells we in million continue fiscal locations XX $XX run addition rate the on have revenue annualized of the more a have, the footage. by more to range Houston, today's $XX in million we should our now it we've to 'XX. we to Bombshells end

XX% Our internal in is to target XX% range. margins the

As that developed. property of should Bombshells, we in traffic excess property is increases store or lease generate additional around some sell the our out as newer

currently on time. new We we locations picked any locations and waiting haven't the as in evaluate up ROI want our after well. are X out opening short to teams to management such build a investments our We

We with ended Please turn cash hand. to in XX. XXXX $XX million on fiscal Slide

flow flow on and free dollar revenues before free $X.XX year X That every capital As discussed means our cash cash of performed I we well. to free we -- XX% allocation. focus conversion took flow in. compares the our of fiscal cash XX.X% earlier, rate we The generated started

reduce of and goal annual of cash XX% the -- We flow million XX% fiscal first also spent cash to free free diluted shares in of outstanding more back per buying since fiscal share. We fiscal to outperformed added 'XX XXXX, since we quarter our approximately average growth that have X% than Altogether, stated cash shares. of 'XX $XX weighted used fiscal our XXXX. some

$XX fiscal XX% we're stated currently with growth goals. in Turn a capital -- rate. strategy. represents free flow cash of increase run a our currently from We free XXXX, rate allocation cash at our more to XX% being million XX target flow our million Slide in operating It for $XX operate line

free $XX calculated against to our we've a share current count. cash our million flow X,XXX,XXX As yield show graph result,

our would comfortable we Our we between That available that our 'XX the be authorization. million, of shares of to buying the brings effort, remaining financial of and from are on our total Directors, breakeven that funds other the $XX. we -- up approximately is focusing on of expansion an Board stock. price announced on $XX. buying $XX.X on back our about $XX repurchase today, that previous excess based point additional Monday where common further In all now based cash shares million QX and performance, includes to back words, or funds To authorized

that start Please the fiscal accounting we as quarter due only and of debt XXXX. and them Long-term XX, to our XXXX. million of down forward, September Slide clubs to Even Bombshells, have debt XX going of up and and the from in from new $X.X present long-term first with note will on Pittsburgh That Chicago million capitalize in leases build-out $X.X regulations, long-term June was XX. new acquisition debt.

Please Slide XX. turn to

in mentioned we that on call, 'XX. This for unsecured As million financed Centennial us anticipate the XXX% a fiscal last acquisition, gives the plenty making bank of room $X loan we amortization Northeast acquisition. using our million Corridor drops continual in for the that $XX new

XXXX. Bombshells from Looking at the long-term X.X September major XX, year continues were schedules fell expense use X.XXx -- 'XX a to to a excuse the were our or to mainly EBITDA be before, debt, fiscal open interest but of fiscal 'XX. maturity due for to from me, adjusted at -- cost XXXX, metrics Occupancy up XX, complete X.Xx Total December X for substantially we that amount high on the manageable. minor to new until debt monitor year X.X%, didn't X on

be continue we forward, focused the running to on Going business.

improve Looking and then finalizing at our any are our acquisition our Corridor Northeast parameters. priorities fit Nightclubs, that and to operations, opportunities continuing acquisition integrating ensuring

to older priorities our are to margins ensure and grow and guiding their same-store sales our the new all Bombshells, locations success Regarding unit. at continuing

In to all of our management, close pending like on terms asset we would opportunities. of

XX% cash and we and right share to flow to of buying free least have at markets the to internal growth. a in shares, be focused per clubs share strength the right through continue buying We financial of combination the course, back XX% per grow

have for month. filing to LLP pleased regard are Audit Committee firm this Now filed XX-Q that, independent fiscal public to registered company's we With first accounting the our Friedman on appointed focused has XXXX. we the quarter report as that later XX-K, our I'm

I the I when as aspects with legal talk if start business certain of let's understand matters. comes appreciate I'm I'm always, limited say Operator, in the can all but what to And happy it Q&A. you to

Operator

[Operator Instructions].

with Marco from Partners. comes question first Stonegate Capital Rodriguez Our

Marco Rodriguez

able far improvements the comments off little little improving you're clubs. if Or what there as bit revenue-generating-type And a up might talking higher a base? existing improvements? improvements, margins some with be as there looking the are prepared I are of drive start you to on here was revenue at. wrapping of just wondering sort aspects provide color same sort that you When operational in for those your about could extra were can if Nightclubs. the maybe operations Maybe you you're

Eric Langan

I mean on also Obviously, We're competitive others. working both. are we're to those little working more which markets put depending it's people than in, and some a always markets more seats. of We're on things. bit more

Club, after clubs that just the St. paid, we are I can at looking dollar our industry improvements remodel, very every So won't costs also nice our made of that clubs, that fire, about once the think some perform new a margins of dollars. but thing We're other, the some on there. the underperforming little bit incremental all Louis we has better. large to The we do those is fixed top say

that's so move we're on as we forward. what really focused And

Marco Rodriguez

talk be it. versus the acquisitions on the about Anything the there lane, your valuations Got in And term. terms you bit bit at in now. little acquisition it if see burn interesting in near a Nightclubs sector, the sounds sort front you burner in out back for obviously, right are like least the might a can the of the fiscal Maybe little more 'XX? tuck-in of that landscape that

Eric Langan

at looking to sticking we're looking of to stuff in market growth are there's right the unless what just special got pretty us, trying very But lot calling special We're think for and all really deal-by-deal coming us. it -- don't situation, now basis such and kind our last a tires. amount of at really EBITDA, just brokers We're right the on We've and out amazed for seeing over like now. for I fits for are Xx. a where we're talking to To said, I least our XX% limited XX% we club kicking license close we're Sellers now. their people be what to that not special market But we're competition stuff Xx we're -- the might a or deal I'm seeing fiscal sellers closer calling to it's and expand us. or we're growth best plan us, playing tight right rate right our They're I we're taking stuff. think and and at are serious of the evaluate to year kicking they're futures. they're now. big looking so tires chances. target of this year on not honest,

for go-forward basis. So it's looking good on very a us

Marco Rodriguez

us give -- the of terms kind thoughts as your same-store we just in look Nightclubs, fiscal expectations then again, into And helpful. the 'XX. sales here Very of far as as

Eric Langan

this All Chicago, little those Bowl that in to good I better be NBA of as to sales, be got are of Game and Well, in think, going location. going Super sporting because some fights be are, that some fights, we MMA which events have going the There's We've to us, is big other couple I have Miami than 'XX that help including hopefully, 'XX a helping pretty Star for happened there'll think well. is more are a year. that

As our there whatnot. the very for prospects through of XXXX local see overall, the playoffs we'll we how get But the for of basketball and season, doing teams excited are clubs. we're some about

Marco Rodriguez

it. I Got And if quick last might. question,

different, to just Texas looking some a prepared direction to there. that if strategic the lot your wondering a obviously I talk can maybe to bit you quite of just potential at model side, on opportunity add as framing some regional focus a a people, if changes, moment. from understand little to Bombshell comments will, a franchise been more the And model you more headcount different as far that. in There's more a On you're

What Just about as expectations plans be Bombshells for expecting as you in 'XX. term. thoughts sales sort of kind what sort of might then that of helpful. terms that in And the able particular be the you're give any same-store talk of your to business longer be of far might for would sort us fiscal

Eric Langan

Bombshells. for curve learning a been with It's us

that weren't out we with food for -- that familiar the side start With beginning the Wester the the location we some our bar business, with we knew did us the curves side learning of choosing a as Something as didn't we business. in of -- out where store B work those in location.

learned worked the on the We those we've market or We've buggy too franchising, think the front things. we horse better. a started in front of studying -- all and soon. the been horse we in I from the put little learning of when

Now real I've what I and for when more, as of franchise from franchise we million seen out the now, we in a companies studied think time, most their are we million interest little -- $XXX franchises the start start will between most base reach of past, revenues. our seeing $XX

more need even, to franchising I going we're we -- that in add a to locations, or pretty in maybe going. think be or to that 'XX the may really close right 'XX few now get

than have have we the talking in been We more franchisees past. with

So getting grow. as it more we're interest to continues

plan I will So going But that the is definitely to locations. be part franchise company-owned future, think it stop from our in either. don't of us the stores

that if doing, the can bank we returns to that hit high the margins cash-on-cash these too are with will We just -- we're think and hit on financing we're we Bombshells. going the

two going out We're -- it all wait. to going we're next to But the over probably next prove the quarters.

these new numbers some March You'll and June end see pretty going of on see positive of through in you're show you're see numbers numbers impressive We to the to and doing. I what to good we for the much May, some Bombshells our we We're end we in based getting think it think that we'd then the We're around the here the stores March definitely going to when to to of complement trends our will numbers, as And the then us like pretty this a light realizing Bombshells. and out stores then by primary think more report And counts. out openings coming month. start basically in report January are the I August, I it. the I new figured quarter, we're add the that as getting have the locations. our traffic other move think at complementary And through of business numbers the and business. restaurants October-December the at

Operator

[Operator Instructions].

question next from Flow is Kingdom. Cash Darren with Our McCammon

Darren McCammon

us investigation? you going it. to SEC but you're Anything to ask I the not can Okay, this, able tell to be got answer about

Eric Langan

That's X to ongoing, you. We've continue to continuing cooperated tell It's and day can We're we're cooperate. continuing to cooperate. we'll cooperate. I from what

Darren McCammon

curious guidance, your million when you're actually of buyback flow On using already? free flow your million why $XX for you your chart, kind $XX your on enough. chart, free cash Fair cash did

Eric Langan

some this tailwinds I year don't to know that tax had for going from last including we last year. sure we're Well, year, some benefits have

same and cash not based did flow the telling things being we what in $XX on run So million million our Currently, for forward, free from -- we're do our the what today giving about really current is we're guidance, is the rate we this all year. figure we'll run you rate. $XX is

point, second data or quarter, point, may at But through subject financial first may that actually change. the we're kind. give to more this or we target some get to our of that not a at anything. And guidance our guidance We type quarter, of current or some we understood any just give just a As be position really target wanted to rate. run in sure make investors

Darren McCammon

Okay.

when say QX So numbers? are you taking rate, run mostly you

Eric Langan

Yes, in a we're that the and the some is about million. run XXXX projections and saying, for with $XX numbers of capital tax taking all changes benefits, stores XXXX, without our rate without tailwinds, working that opening and the whatnot, new AP the are the bit our taking from being tailwinds things little equal,

Darren McCammon

quarter over audit, continue? of one-time to Okay. was I last Or that something about should million up saw cetera? because your that SG&A is quarter. $X.X et this I expect Is

Eric Langan

it as a in of winding second of half the some I with as this first X numbers quarter of legal think XXXX our in we and that second legal years' it and year things. and I accounting little the additional the financials, of those we'll expenses then through declining it will internal will bit we're get into the think, lot the see the second reaudit, half There's a investigation, the down of in regarding hopefully, of year. start stuff, the SEC costs start of types

Darren McCammon

gave in $XX us an cash update million on that? September, Okay. you us in And you give can

Eric Langan

don't I sorry. have today, it

Darren McCammon

You for can't me trying. blame

Are your quarter? is December guys last Okay, blackout report so in the you question until you blackout.

Eric Langan

three don't be at we know not the market we I "blackout," get out. if in will yes, we financials open after in stock but least buying until any we're will our -- days

Darren McCammon

financials? So quarter the December

Eric Langan

which Yes, be will this later month.

Operator

with is question next One Yaron from Naymark Main Our Capital.

Yaron Naymark

define since see have, back you question step Bombshells on should guess as pulling maintenance $XX to from year is this guys million flow, should year if rate this CapEx And reported I some we if I the down guess, CapEx? getting actually see Congrats closer locations, free million filed. of run K this less ops your of of are I cash first we case? the you cash that's the $XX CapEx on what flow

Eric Langan

CapEx, would balance stock stock same that what no it. yes, is -- But sheet. our if right, build have we may on price you're or think investment have closer. end the additional some that there. or affect expansion, we were towards additional depending or If course, new CapEx whatnot -- of all think things buy be to, doing, to the see cash numbers some we would we'd basically yes, year, if keep investment, have did in to on CapEx go will I our the that make properties only in I number, buybacks going get no we mind, investing But we continue as they the of some buy of we'd acquisitions, you're the being investing

then X same. numbers the would be So the

the generated cost that we maintenance flow. company, the free look And the free for company, at why of redeployment CapEx flow. free we and build investment, as will year. as only up if generated a from cash that's don't the no CapEx a a cash just did that's Because in we've the therefore, we that cash I flow deduction further cash use investment to

that maintenance our And why assets. but of or Capex from existing on maintenance money income. so that is actually operating And -- we we spent that's deduct repairs

Yaron Naymark

right, right. Right,

technology how then you do to procedures and requirements I all sense. changes disclosure makes you have guess, have relationship And you feel in pop in And now had the they in, enough guess, place is I that of any the auditor? before I new your like other recently, Okay, guys the catch implemented question with these was, checks given future again?

Eric Langan

mean nothing disclosure the there any financial no material were of really significantly absolutely. On financial side, on -- financial I kind or numbers.

always solid. have been Our financials

staff us the we the what now good -- forward Some into big management through between was team, able to what and know staff relationship Friedman, the their and that's getting know. I to Unfortunately, management top we hired working our relationship that and was of XXXXs disclosure evolve. and I look hard, we've of who We team tough, in fiscal We've fair, of continue and thought their a and our X get firm, happened. rid going internal was see a our didn't to, but place we with and I systems very third-party say weaknesses. company will what really the stuff think, X us bring firm, X helped hired and of us. material review all to they're a didn't grow they're been create everything to get not with out they're XXXX put

controls most you we're had of a still from XX that. to missed The the we X-K, know have August of and to months working weakness, have financial material weaknesses remove remaining no issues reporting through as material In issues. some disclosure is you full because in we order that

have we hoping I'm get We XXXX with through So Officer. Chief no a Compliance do issues.

is miss every -- of multitudes make that that anything reviewing we now don't Committee Disclosure going forward. a have sure to We don't quarter that transactions we

I So a we're better in shape. think much

better a required. of understanding have what's much We

was know. that biggest we thing. I know I think we guess, didn't what didn't the

Yaron Naymark

and that, guess, theory, only actually have sales guys ones year I that have should a deploy debt some the is you pay million $XX you of for earmarked, in to you theory, the have CapEx? able deploy free buybacks all or are this either between know, down I sale cash flow debt don't for more are have the in $XX if But of growth, have bunch but generate, year million you for selling earmarked, this Right. asset about amortization not these question now. up way And ones so the guess last I be you to I pay you before you work payments. you and if and think right -- that either down debt Is mean it? growth to able than I end

Eric Langan

look I at but closer million the to have probably million to to debt. would the range to current have We pay everything, down $XX sales. with $XX

Some of the properties have debt against them.

We have to pay down debt. some of the

Yaron Naymark

as But and if paydown debt account debt Right. between some you paydown I growth mean of capital investments? deployment,

Eric Langan

-- I $XX million we'll $XX have include to Yes, for mean, we're yes. the down, million we'd debt than have more have going plus. sure, think if we I pay

You've got -- the asset sales. other. other for operating the income below on the goes up That the shows to stuff remember, all line into

the below it's line. So

that's our really included So cash not numbers. free flow in

us cash, know in I will net is $X.XX that property $X.X scheduled owned about clear, million, XX. -- and the which close million free know that's X out March of I to

know pieces on. enough left just small on well. properties, small remember to was to $XXX,XXX. loan the loan there's already. a there's then where of cash. don't property X how get of we what's the I the I know that property, I $XXX,XXX as it maybe going we're much, One And other on. know a because other a some don't sold I I know

So have that to I left see what's on loan.

Operator

Instructions]. [Operator

Cooper with Mikkelsen Capital. is Our next from question Adam

Adam Mikkelsen

you facilities use sales some under availability a does these for is then reducing got uses? asset increase if to from then last proceeds question or debt, existing that that you've and the one able to your just mandated really debt bank Like, your that that redraw other line? you're my if your follow-up paydowns, So you are

Eric Langan

we an been these asked of actual some the with off have certainly of been for, we but obviously, able in banks bank to have have basically we've credit, line paid that far, think, full we've We some I speak, so refinances. in so I to Texas we've regional anything -- -- do small get. don't mean, able

and haven't we've other really mean, to need to I I we've money it. borrow looked been we it no, needed anytime money when been able far, -- -- So to get we've able and than so

reality the Xx think I that debt-to-EBITDA. is, to about down we're

we the over we're as reality we're that long EBITDA. is think that for go to Xx, because don't I of real think we add safe if our borrowing I it's as pretty pretty so own us, borrowing estate much -- additional especially

we've -- little about if EBITDA where were up bit, able of that's we ratio move -- the kind prime both actually Bombshells, the have X a to you added additional down. of full date. way, that's expensive Bombshells year we very, they went -- we and probably that because They our add up and they're most A, contributing, into always new units look, say X.XXx those down. that's the by were to both we like are though very even X% the we X%. as And that's bringing the is to So And

are And well. very, when very, locations. best both ever. comes to X% stores these continue very well, to of X I both they're XX% Both in do stores opening think I performing top the of it the very think to going our are

areas. traffic in next ones top top-performing they're very, the They're for They're two other location chains. high both chains, major very to in their

is the top-performing busy going certain be I us it's in our chain be freeway us going too that I well. in without on that There the think it's the some to busy intersection. a newest just opened Houston Bombshells in as busiest construction super And we while. a is mean it us But for because we'd probably it little at we're -- actually on right times helping of north may won't now. matter. affect location

them. So very excited about

Adam Mikkelsen

the that down. you have How to go pricing just no go the Northeast and Eric, terms of you're Centennial banks structure this -- base, X to borrowing? get does to with amount able to ask money variety to in you're of being work of them? so just deals these on from best them acquisition like, a that to down? Do with you increase kind And borrowing money and this able able where Are

Eric Langan

with Centennial. relationship guy, know, I'm and we great As a a you relationship have

X% quoted as long you -- that's banks. we're debt amortizing they're start about estate real what X.X% I As XX-year money, getting believe money talking when fair other and unsecured and at

some didn't, And I just are So they're unofficially easier we now. made their so officially they I deals for many other -- banks. say what I offered with calls work I'm to mean in because with phone done with wouldn't us shop we've rates line them like, always have being from been, make it. to to sure see

refinance in other interested now big package do banks us. We right maybe doing a have that are for

and look and set of and two years Our next big pay November years I And over rebuild to it XXXX. want that refinance. or because doing. all us in in we'll what Chicago XX again. so real those or XX years of the three estate back or we and buybacks, did we which months, for like have out into when stock [indiscernible] should the do pull then build two the acquisitions been we just think old we'll Pittsburgh point, see for depending stock's refinance want Bombshells happen off them and again single Most basically 'XX to properties to the loan reload chest probably to be what all of and type properties combine next hopefully, at pack We'll take can operating those equity little will give war between will another a -- become we'll

Operator

Steven from is Slater. question next with Martin Our

Steven Martin

the -- -- and Bowl or they're who some that idea go talked in that the earlier Can the the us the or I team the know it restaurants to is don't either those Super you know ahead. what of where whatever, or both? mean does MMA matter And fight you what clubs, home occurred. give I about located call

Eric Langan

the significant place put we've they're also the people And for and matter it's where I XX them don't it -- some because check, us. club. sure, have because -- great want pay-per-view, watch we it's at show I fights but make I'd check of say MMA, we shown would Bombshells to for go that significant for after-hours were back locations to so locations. some pay-per-view. And mean, on speak MMA and it doesn't Yes, takes to the -- it we show

they until But because out any to are it do over. people goes busy after night, the people -- because wouldn't that get the show out. clubs good more at to nobody club so already fight's are So more fight

been us. that's for So good

X scenarios XX,XXX-seat With bases possible X stadium when football the I championship scenarios the out game, X. on the a Kansas what -- on dollars teams there and below XX on fan consider best best we our based sells based had and out it's City whatnot.

of dedicated those nice up over fans. a Florida considerable some the year. bump amount a We've at So really previous the are both clubs seen

numbers. February So definitely will help that our

Steven Martin

didn't restaurants -- Bombshells Bombshells to does do the from in a Super Bowl? it have see make Superbowl, because XX -- you bump did the Texas, so And Bombshell Houston good did

Eric Langan

getting playoffs. where from right are coming from and We opening watching the actually games Superbowl did people some now, are And in opening the weekend. and from some XFL for XFL the interest -- the the

that afternoons that promising looks -- in that will weren't last us. that the new Saturdays the So that year. be offseason on that people and coming in And for -- during revenue Sundays brings

So some will comps -- comps help well. hopefully, that with us as our

Steven Martin

had finals, NCAAs, of year, regional Right. you have -- And you for year, this guess and two the finals the finals? two I four last regional the the

Eric Langan

drop see because think in York year I finals and might be April we year in Houston all little were will the last remember April, a in March. in games this Yes, New the and

March not It was help was wasn't It in So place have concerned bump drop that in it in any much April. so a we shouldn't it bit. our than little wasn't a really huge other effect -- bump. else And definitely but little numbers Minneapolis, see that but a April, huge with a it it. bump may I'm a should

Operator

to registered are this time. management questions to There I further over at the conference back for turn would like Instructions]. remarks. no closing [Operator any

Gary Fishman

This is Gary. Thank a you, our in We've few included Appendix. supplemental Eric. slides

late, New and joined us tonight who meet XXrd X those to X West For at Rick's and York, from Eric Avenue to between XX Fifth Broadway. talk p.m., can Cabaret investors Street

me at the for If you door. to have RSVP, ask an

of company goodnight. on behalf and Eric you the subsidiaries, And thank our and

As clubs visit restaurants. always, one Thank please of or our you.

Operator

call. conference today's concludes This

your a and pleasant for disconnect at Thank you lines participating time. may day. You this have

RCI Hospitality (RICK) 14 Feb 202019 Q4 Earnings call transcript