RCI Hospitality Holdings, Inc. (NASDAQ:RICK) Q1 2023 Earnings Call Transcript

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I’ll get the new list on the 15th of February. We’ll kind of see if that trend has continued. I saw institutional ownership dropped from 54% to 42%, and yet our stock was hitting all-time highs. This never happened before, right? When you lose your institutional ownership, your stock crashes. But that didn’t happen with RCI. And I can say — the only thing I can contribute, the only thing we changed was we went on Twitter. We hired Equity Animal to get our story out to the people directly, right? And that’s what’s changed. And like I said, I can’t be more excited about how it’s going, how it’s been going. I throw two parties at the clubs and it’s money because 20 30 people show up sometimes. Sometimes four people show up. Sometimes one guy shows up.

And me and that guy get to sit down and have a drink together, and talk and I get to hear one-on-one, why did you come here? Why did you do — what do you like about us versus somebody or other clubs you’ve been to? I get to get just direct feedback, and to me that’s incredible. My direct messages. I follow people. I don’t care if your account has a small amount of followers or a large amount of followers. You tell me you’re a shareholder and you engage with me, I’m going to follow you, so you can direct message me. I get a lot of direct message. We can talk. And like I said, it’s just direct feedback. You can’t get that any place else.

Mark Moran: Thanks so much for that question Evan. Eric, we appreciate the kind words. we’re going to get to you next. Great profile picture by the way. But first, let’s bring up Orchid Wealth , you’re up. The floor is yours.

Unidentified Analyst: Hey, guys. Great quarter. I just was going to second Adam’s comments. Obviously, with the vast majority of the money constantly coming from the strip clubs, adult clubs a lot of Bombshells talk and focus, I feel like people whoever is listening and wants to focus in on that does not understand the entire story. I’m completely behind this idea about this casino expansion. And like anything else, I have faith in what you’re doing, Eric. I really don’t have anything to add other than just to congratulate you. I’m happy that you’re moving into the space. And from the looks of things and the way you’ve done things in the past you have my confidence with my shares. So I’m going to just leave it at that. Thanks.

Eric Langan: Thank you. I really appreciate that. It means a lot. I mean that’s what I said. This is — that’s — that there is why I’m on Twitter. It’s why — it’s been so important. It’s why I spend so much time. And I know I’ve been in Colorado over three days. I don’t think I’ve made two posts in three days. I was looking at my engagement. I said, oh man, I’m way down. But we’ve been out there. We’ve had non-stop meetings to give credit to our Vice President Travis Reese. Man, he is engaged in this casino stuff in the laws in every aspect of creating this new concept. So one of the things, he’s good at helped the Bombshells and help create that concept and really got it started before we brought a restaurant expert in who basically fixed the concept turned it into what it is today.

And Travis has been great at that. Very happy we’ve been — I don’t think in the last three years we’ve spent as much time together on a day-to-day basis that we have in the last six months. So it’s nice to be able to spend time with him again. But his engagement in this deal in Colorado has been fantastic. So, I want to throw that out there say thanks to Travis for that too.

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