Odessa Jaguar's Club Being Sold to Rick's Cabaret International 8/10/12
August 10, 2012
Odessa - Rick's Cabaret International has inked a deal to buy 11 gentlemen's clubs including Jaguar's in Odessa.
According to a press release, the club will open under the Rick's Cabaret brand.
The deal will be for $26M plus $10M for associated real estate.
$4.35M will be paid in cash at closing and the rest will be through seller notes at 9.5% interest over 12 years.
Closing is expected within five days of acquiring the necessary operating permits and other documents.