Rascals Announces Results From Latest Club Opening
Thursday May 20, 6:30 am ET
MONTCLAIR, N.J., May 20, 2004 (PRIMEZONE) -- Rascals International Inc. (OTC BB:RSCA.OB - News) recently announced revenue and profit figures for the first sixty days of its now triple venue complex in Jackson, Mississippi.
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This venue entertainment complex opened March of this year and the public took to it immediately. Revenue for the first two months exceeded $720,000 with profits of $133,200 just over 18 1/2%!
Ed Rodriguez, Rascals Chairman and CEO had this to say: ``Jackson is the first of our multi-venue complexes to open, and it immediately proved the viability of our plans. Four more are in various stages of construction, all to be completed before the end of the year. Jackson is projected to be our largest grossing venue, with estimated annual revenue in excess of $4 million. This record will only survive for a short time however, as our Montclair club and restaurant, now scheduled for a June 11 opening, should easily gross over $5,000,000. Not to be overlooked is the fact that between these two landmark locations, Jackson and Montclair, we opened a promising facility in Omaha, Nebraska last month that was well reviewed and received.
``These events and positive results prove that Rascals is making good on its commitment to grow, increase bottom line profits, and reward its faithful shareholders.''