Exhibit 99.1



RCI Steps Up Implementation of Its Capital Allocation Strategy


HOUSTON, TX—October 14, 2016—To further its Capital Allocation Strategy, RCI Hospitality Holdings, Inc. (Nasdaq: RICK) last night announced actions to increase returns on its portfolio of clubs, restaurants and other businesses, in order to enhance the growth of revenues, margins and free cash flow.


In a conference call presentation with investors, RCI said it has implemented the following steps in 4Q16, which ended September 30, 2016:


·Sold two clubs, one that was unprofitable and one just over breakeven.
·Decided to move and reformat two clubs to increase revenues and margins.
·Closed the only Bombshells restaurant that was not profitable.
·Initiated plans for two new Bombshells, using bank financing to increase return potential.
·Sold the majority of its interest in the US distribution of Robust energy drink.
·Refinanced $14.2 million at lower average rates, moving all non-realty balloon payments to 2021.
·And since June 30, 2016, RCI has paid off the last convertible debentures that had warrants, eliminating the potential share dilution.


RCI also announced continued share repurchases in 4Q16 and the settlement of the last of the most serious cases remaining from the insolvency of its prior insurer.


Some of the actions are expected to result in gains and some in non-cash charges when RCI announces its final 4Q16 results, which are expected to be reported December 14, 2016.


CEO Comment


Eric Langan, President and CEO, explained, “A year ago we formally launched our Capital Allocation Strategy. As part of that strategy, we calculated the risk free return of using our free cash flow to repurchase our own shares.


“We also began using this yield as a baseline to guide our investment decisions. Since then, we have evolved this strategy into a philosophy that we are applying to all of our assets, including existing properties and businesses.


“This led to the actions we announced last night. The results should be materially beneficial going forward.”


Sold Two Clubs


Cabaret North of Fort Worth, TX, was sold for $4.5 million, which is expected to generate a $300,000 gain. The unit lost approximately $200,000 in FY16 due to nearby freeway construction blocking traffic, with little resolution expected in the near term.


Separately, Rick’s Cabaret Indianapolis was sold for $1.8 million, which is expected to yield a $300,000 deferred gain. The unit performed slightly better than break even in FY16 and was too far from other units to be managed effectively.


The following information was filed by Rci Hospitality Holdings, Inc. (RICK) on Friday, October 14, 2016 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Rci Hospitality Holdings, Inc.'s financial trajectory

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