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Minneapolis – from www.bizjournals.com – Rick’s Cabaret International Inc., which already has an adult nightclub in downtown Minneapolis, said Monday it has purchased competitor Schiek’s Palace Royale for $6.3 million.

Rick’s (NASDAQ: RICK), which is based in Houston and now has 23 clubs nationwide, said in a news release that it bought Schiek’s for $3.05 million and it bought the land where Schiek’s is located for $3.25 million.
The two clubs are about a 5-minute walk from each other, and Rick’s CEO Eric Langan said that “is consistent with our program of clustering clubs to increase management, marketing and purchasing efficiencies.”