RCI Board of Directors Names Reese as Interim President and CEO and Molina as Interim CFO

HOUSTON--(BUSINESS WIRE)--RCI Hospitality Holdings, Inc. (Nasdaq: RICK) today announced its Board of Directors named Travis Reese as Interim President and CEO and Albert Molina as Interim CFO. Eric Langan has stepped down as President and CEO and Bradley Chhay as CFO.

Mr. Langan will continue to serve on the board and will continue to be employed by the Company, advising our subsidiaries regarding strategic corporate transactions, including identifying potential acquisition targets and negotiating potential transactions. Mr. Chhay will continue to be employed by the Company, and will advise our subsidiaries regarding financial budgeting and forecasting, capital allocation strategy, mergers and acquisitions, and related integration.

Mr. Reese has been instrumental in the development and growth of the Company alongside Mr. Langan. He became Executive Vice President and a member of the Board of Directors in 1999. Throughout his tenure with the Company, Mr. Reese has served many different roles, which include overseeing information technology, working to create the Company’s intranet, permit tracking, and incident reporting systems, as well as other technology platforms the Company uses.

Mr. Molina has been Director of Financial Reporting since joining RCI in 2016 and has worked extensively on SEC and financial reporting during his time at the Company. Prior, Mr. Molina managed the financial reporting and technical accounting departments of a publicly traded multi-unit restaurant company (2010-2016) and a publicly traded retail chain (2007-2010), both in Houston, TX. From 2005-2006, he served as controller of a publicly traded call center company based in Miami, FL. From 2003-2004, he was senior financial analyst for a satellite TV company based in Fort Lauderdale, FL.

About RCI Hospitality Holdings, Inc. (Nasdaq: RICK) (X: @RCIHHinc)

With more than 60 locations, RCI Hospitality Holdings, Inc., through its subsidiaries, is the country’s leading company in adult nightclubs and sports bars/restaurants. See all our brands at www.rcihospitality.com.

Forward-Looking Statements

This press release may contain forward-looking statements that involve a number of risks and uncertainties that could cause the Company's actual results to differ materially from those indicated, including, but not limited to, the risks and uncertainties associated with (i) operating and managing an adult entertainment or restaurant business, (ii) the business climates in cities where it operates, (iii) the success or lack thereof in launching and building the Company's businesses, (iv) cyber security, (v) conditions relevant to real estate transactions, and (vi) numerous other factors such as laws governing the operation of adult entertainment or restaurant businesses, competition and dependence on key personnel. For more detailed discussion of such factors and certain risks and uncertainties, see RCI's annual report on Form 10-K for the year ended September 30, 2024, as well as its other filings with the U.S. Securities and Exchange Commission. The Company has no obligation to update or revise the forward-looking statements to reflect the occurrence of future events or circumstances.