If Robust was providing a "financial contribution" rather than a "financial DRAG", then we would be hearing about it.
$148M of Debt and Liabilities!
CEO should have wrote down some of that make-believe value when he reported the one-time gains last quarter and in Q3 2015.
Dead weight and just another Langan yes-man imo.
Waters should be off the BOD too. And he should be paying RICK shareholders for the use of the "Ricks Cabaret" name on HIS club in New Orleans. Otherwise, I should be able to name my club "Rick's Cabaret" and pay nothing as well. I'll use the exact same tacky sign too.
For those too stupid to understand (like the message board troll with 30 aliases), let me say this again in BIG letters.
The money blown on buybacks, as opposed to using it for growing actual earnings, WILL HURT THE COMPANY FOREVER!!!
And this mistake in money management COMPOUNDS indefinitely! There's no end to how much the $15M blown + the interest expense (on tapping the real estate equity) for the buybacks COULD HAVE COMPOUNDED to.
There's nothing Langan can say to justify the asinine share buybacks with so few shares outstanding. It's like he's trying to pretend to be hip like Apple but can't understand that RICK isn't in a position to just throw away cash.
But his obsession with buybacks and debt says different.
Less shareholders to buy out down the road, and extremely high debt LOWERS the price he will have to pay. It destroys share value (over $10/share of debt)! He's leveraging the real estate to the hilt just for more and more useless buybacks.
Lebron alone is probably worth more than 5x what RICK is worth.
Langan couldn't carry Lebron's jockstrap.
$15M buybacks REDUCE the value of the company by ay least $15M. PERIOD. Cash is gone. Nothing is gained, only lost.
$15M debt reduction adds to real world earnings by reducing cash flowing into interest expenses. Lower debt adds safety to the stock and increases share value. Lower debt allows lower borrowing costs for future expansion.
$15M spent on a profitable club, or several profitable Bombshells, adds revenue, adds REAL earnings, adds cash flow, and adds value to the company. All increase share value. And these things over time add up and snowball as the earnings buy more expansion. And that expansion adds even more growth.
So $15M blown on buybacks will cost shareholders for the life of the company in revenue, earnings, and cash flow that COULD HAVE BEEN GAINED. And that's FOREVER!
Buybacks are VERY STUPID for a company with only 10M shares. CEO and BOD should be replaced imo.
They could have gone anywhere.
Yet Langan believes he's above flying commercial airlines?
Time for a new CEO and BOD!
Hey Mars, that would be chump change compared to the amount of money "transferred" in the Vegas scam.
Where did all that cash end up? It didn't just vanish, except from RICK's balance sheet.
How about the 13% loans from "un-named individuals"? Somebody is getting a good return on their cash and it's not shareholders.
How about Vivid LA? They bought out the partner in the deal just to close the place down shortly after. how much was "transferred" there?
Money is being "siphoned" from shareholders everywhere you look. Only they don't have to hide it from the public. CEO's $1M salary is disgusting. The jets and planes for personal pleasure is disgusting. The $6M or more HQ (hangout) is disgusting. So much waste. One would have to be nuts to not believe that some of this blown cash isn't being kicked back to the one freely tossing it around imo.