Make no mistake, however. The core business is adult entertainment, where nude or seminude women are the draw, and suggestive private dances β sometimes known as lap dances β are a major revenue stream for the entertainers, though some clubs take a cut.
As such, the strip club industry faces headwinds in the MeToo era, including stagnant growth, labor strife from dancers, who mostly work for tips, and the loss of business customers as companies more closely scrutinize corporate credit cards and expense accounts. Earlier this year, for example, sportswear company Under Armour reportedly told employees they would no longer be able to expense strip club visits. The only publicly traded adult entertainment chain in the U.
It also owns two clubs in downstate Illinois β near Bloomington and in the St. Revenue is up 61 percent over the last five years, mostly due to club acquisitions. There are four licensed strip clubs in the city of Chicago: In Chicago, strip clubs with liquor licenses have limited hours of operation and are restricted to partial nudity, according to city regulations.
Similar regulations limit dancers to partial nudity in most larger markets where RCI operates strip clubs that serve liquor. RCI is looking to gain a foothold in the Chicago market, which also includes a number of suburban competitors, with a tested formula that has proved profitable elsewhere. Plans for the year-old club include opening earlier than the current 7 p.
No less important, he said, is a corporate-mandated attitude adjustment. We treat you as a guest. The number of strip clubs has remained essentially flat, while annual revenue growth has averaged 1.
