Rick's Cabaret International, Inc. - 1998 dated Stock Certificate
Inv# GS6402 Stock
Stock printed by Thomas De La Rue. Interesting topic! RCI Hospitality Holdings, Inc. (previously Rick's Cabaret International, Inc.), through its subsidiaries, operates strip clubs, nightclubs, sports bars/restaurants, and a media and convention company that serves the adult club industry. RCI went public with an IPO in 1995 is listed on The NASDAQ Global Market under the symbol RICK.
The company was founded in 1983 by Robert Watters and is based in Houston, Texas. In 1998, the company merged with Taurus, Inc., which owned the XTC Cabaret chain and was controlled by Eric Langan, who eventually became the RCI's president and CEO in 1999. Langan acquired his first gentlemen's club in Texas at age 21 with $40,000 from the sale of his baseball card collection. Subsequently, RCI expanded inside and outside of Texas to states such as New York, Illinois, Florida, Arizona, Minnesota and others, and entered related businesses, such as sports bars/restaurants and nightclubs.
In a 2019 class-action lawsuit against the company for violating the Fair Labor Standards Act a judge determined the company misclassified some workers, ruling they were employees thus due minimum wage. In 2020, Rick's Cabaret was criticized for taking several million dollars in Paycheck Protection Program loans meant to help small business during the COVID-19 pandemic. The company is also under an ongoing formal SEC investigation. Read more at https://en.wikipedia.org/wiki/RCI_Hospitality_Holdings
A stock certificate is issued by businesses, usually companies. A stock is part of the permanent finance of a business. Normally, they are never repaid, and the investor can recover his/her money only by selling to another investor. Most stocks, or also called shares, earn dividends, at the business's discretion, depending on how well it has traded. A stockholder or shareholder is a part-owner of the business that issued the stock certificates.
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