Rick’s Cabaret Acquires Scores-Las Vegas
Friday, June 13th, 2008
Rick’s Cabaret is completing its acquisition of Scores-Las Vegas these days.
The deal, initially announced in April is being delayed due to issues with permit transfers but is expected to complete soon.
How much?
Under terms of the agreement Rick’s Cabaret will purchase Scores-Las Vegas from DI Food & Beverage of Las Vegas, LLC for $16 million in cash and a $5 million convertible debenture bearing 4 percent interest. As part of the acquisition Rick’s Cabaret also acquires an option to buy the property on which the club is located, just off the Las Vegas Strip.
Predictions
We do not foresee upcoming changes in the club nor in his name. Scores is a major player in the Las Vegas adult club scene and this is more than anything their attempt to penetrate the Las Vegas market.