Colorado Casino And Entertainment Industry Set For Expansion

Written By Jarrett Huff on 01/30/2023 - Last Updated on February 7, 2023
RCI plans major investment into Colorado casino and entertainment industry

In December, RCI Hospitality Holdings Inc. announced it would be acquiring the former Scarlet’s Colorado Casino in Central City. This past month RCI officially closed on the $2.4 million deal with the city that will bring a Rick’s Cabaret Steakhouse & Casino to 130 Main Street.

The Colorado casino will feature fine dining and sports betting to go along with the proposed:

  • 175 slot machines
  • Six blackjack tables
  • A craps table and a roulette table

However, the Rick Cabaret Steakhouse & Casino is one of several plans RCI has in the Colorado entertainment market.

Along with the future Rick’s Cabaret Steakhouse & Casino, RCI plans to put in another casino with a sportsbook and nightclub. Between the purchase and remodel of its future Colorado casinos, RCI expects it to be a $24 million project.

There are also plans to open a Bombshells in the city. Bombshells is a military-themed bar and grill franchise. The hope is for the upcoming Central City locations to be open for business come the 2023 holiday season.

RCI expands its presence in the greater Denver area

Outside of Central City, RCI announced a $5.2 million deal in December to purchase Grange Food Hall in Greenwood Village. The location currently features several restaurants, a video game arcade and Little Dry Creek Brewery.

The company also plans to add a mini Bombshells kitchen. And have the kitchen’s brewery create signature craft beers for use at other RCI locations.

According to an article by The Villager, Eric Langan, RCI CEO and president, says his company’s interest in the Denver area expansion is due to population demographics:

“[There is] nearly a quarter of diverse population of millennials, making it one of the best cities for this demographic in the country and it’s also [becoming] another tech hub with a new nickname of Silicon Mountain.”

RCI will also be putting a Bombshells in Aurora, which is planned to start construction in April for an early 2024 opening.

2021-22 fiscal year proved pivotal for RCI’s Colorado expansion

The 2021-22 fiscal year was a big one for RCI, as the company reported $267.6 million in revenue, which ended Sept. 30. During the most recent quarter RCI brought in $71.73 million in revenue, with a net income of $10.58 million.

It saw the largest acquisition in company history in October 2021, acquiring several nightclubs in six different states for a total of $88 million. The purchase saw many Denver-area strip clubs, including Diamond Cabaret, La Boheme Gentlemen’s Cabaret and PT’s Centerfold club fall under the RCI banner.

The company currently owns and operates over 60 locations across the US.

Photo by PlayColorado
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Jarrett Huff

Jarrett Huff is a former sports editor at Northern Star Media from Wonder Lake, IL. Friends and family will tell you he's an NBA history nerd with a diehard passion for the Chicago Bulls, Bears and Cubs.

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