Florida & Gulf Coast + South Florida + Hospitality | August 3, 2022

RCI Hospitality Holdings, Inc., has acquired the Cheetah gentleman’s club in Hallandale Beach for $25 million.

RCI Hospitality Tips $25M into Acquisition of Cheetah Gentleman’s Club in Hallandale Beach

Subsidiaries of RCI Hospitality Holdings, Inc., have acquired the 14,000-square-foot Cheetah gentleman’s club in Hallandale Beach for $25 million. The company utilized 10 million in cash and $15 million in two, 10-year, 6% seller financing notes to purchase the club and its 2.2-acre property.

“Cheetah becomes our fourth adult nightclub in South Florida, 15th club acquisition this fiscal year, and 52nd club in our portfolio,” said Eric Langan, RCI president and CEO. “We believe it should generate approximately $4 million in adjusted EBITDA.”

Cheetah opened in 2002 and was named Best Strip Club of Broward-Palm Beach by the New Times in 2014. The club has been extensively remodeled and features a full kitchen.

According to the company, RCI Hospitality Holdings, Inc., through its subsidiaries and with more than 50 units, is the country’s leading company in adult nightclubs and sports bars/restaurants.

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RCI Hospitality Holdings, Inc.'s Langan

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

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