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SAFE HARBOR Certain statements contained in this presentation regarding Rick's Cabaret future operating results or performance or business plans or prospects.

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Presentation on theme: "SAFE HARBOR Certain statements contained in this presentation regarding Rick's Cabaret future operating results or performance or business plans or prospects."— Presentation transcript:

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2 SAFE HARBOR Certain statements contained in this presentation 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 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 or on the SEC's internet website at 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. Certain statements contained in this presentation 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 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 or on the SEC's internet website at 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.

3 Definition of Adjusted EBITDA During this Conference Call you may hear us refer to Adjusted EBITDA. We consider Adjusted EBITDA to be a key metric to measure our performance. It is a financial statement measure that was not derived in accordance with GAAP. In calculating Adjusted EBITDA the company excludes the largest recurring non-cash charge, depreciation, amortization and impairment charges. Adjusted EBITDA provides a core operational performance measurement that compares results without the need to adjust for Federal, state and local taxes, which have considerable variation between domestic jurisdictions. Also, the company excludes interest cost in the calculation of Adjusted EBITDA. The results are, therefore, without consideration of financing alternatives of capital employed. The company uses Adjusted EBITDA as one guideline to assess unleveraged performance return on investments. Adjusted EBITDA is also the target benchmark for acquisitions of nightclubs.

4 CONFERENCE CALL OVERVIEW FEBRUARY 7, 2012 Summary of Q1 Chief Drivers of Revenue Increase Summary of EBITDA, Cash Flow & Earnings Review of Cost Control Measures Outlook for Remainder of 2012 Discussion of Acquisition Program Q & A

5 SNAPSHOT: Q1 ‘12 vs ‘11 Q1 ‘12 Revenue $22 million vs $19.7 million, a 12% Increase over ‘11 Higher Revenue Primarily Due to Newly Acquired Clubs and Very Broad Growth at Existing Clubs. Q1 Same Store Sales up 6.7% over last year, to $20.6 million Strong Cash Flow from Operating Activities: $5.2 million vs. $2.9 million in Q1 ‘11 Adjusted EBITDA in Q1 ‘12 was $5.5 million vs $5.3 million

6 …Q1 EXPENSE REVIEW Q1 ‘12 Operating Expenses $17.7 million, vs Q1 ‘11 of $15.2 million Biggest Increases Were in Cost of Goods (liquor, food, etc), Salaries & Wages (primarily new clubs), D&A, Legal and ‘Other’ Where Possible We Are Reducing Expenses; But Some Is Result of Legal Costs, Plus Natural Operating Costs and D&A for New Clubs

7 Current Update Rick’s Cabaret Indianapolis Had Great Super Bowl Weekend…As Did Rick’s Cabaret NYC TABC Granted Rick’s Cabaret DFW Liquor License; Open Weekend of February 9 th Late Start to NBA Season Impacted Clubs in NBA Cities; Basketball Crowds Are Now Back Will Implement Minor Price Increases in Coming Weeks Closed on the Silver City Cabaret Acquisition Giving Us 9 Clubs in DFW Metroplex

8 Current Debt 12/31/11 was $34.2 million, With additional $8.0 million for Silver City Acquisition Current Debt 12/31/11 was $34.2 million, With additional $8.0 million for Silver City Acquisition Reduced Debt by $1.4 million in Three Months ended 12/31/11 Reduced Debt by $1.4 million in Three Months ended 12/31/11 $5.5 million To Be Paid Down Over Next Year $5.5 million To Be Paid Down Over Next Year DEBT UPDATE

9 Forward Growth Strategy Renewed Focus on Growth Through Acquisitions Renewed Focus on Growth Through Acquisitions Searching for Multi-Club Operators to Acquire, Merge With or Joint Venture to Accelerate Growth Searching for Multi-Club Operators to Acquire, Merge With or Joint Venture to Accelerate Growth Continue Emphasis on Organic Growth & Cash Generation Continue Emphasis on Organic Growth & Cash Generation Aim Remains Accretive Acquisitions (Especially In Areas Where We Currently Operate) Aim Remains Accretive Acquisitions (Especially In Areas Where We Currently Operate)

10 Outlook We Are Producing Solid, Consistent Numbers While Exploring Multiple Opportunities to Spur Growth Contributions from Both New and Existing Clubs Driving Current Growth Silver City Acquisition Already Contributing We Believe We Will Achieve Results in Line With or Exceeding Current Analyst Estimates Highly Confident in Our Management & Our Business Model Working Regardless of Economic Conditions.

11 THANK YOU! Be Sure To Visit a Rick’s Cabaret Establishment Soon for Some Personal Due Diligence


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