Vcg (AMEX:PTT)
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From Jun 2019 to Jun 2024
VCG Holding Corp. (AMEX:PTT) announced today that Michael Ocello,
President and Chief Operating Officer, was unanimously re-elected as the
National President of The Association of Club Executives (ACE), the
trade association of America’s adult
nightclubs. ACE provides and shares information concerning the political
and legal status of the adult nightclub industry and is a platform for
the strategic planning of initiatives to combat negative challenges.
Michael Ocello commented, “This will be my
second consecutive year representing ACE as its National President. I am
very pleased to be representing the approximately 3,500 member clubs and
the confidence they have placed in me. The ACE Board of Directors is
represented by some of the largest clubs throughout North America. Those
chains include such names as Ricks, Spearmint Rhino, déjà
vu and The Penthouse Clubs. I am fortunate to not only help guide the
industry, but leverage VCG’s opportunity
within it.”
About VCG Holding Corp.
VCG Holding Corp. is an owner, operator and consolidator of adult
nightclubs throughout the United States. The Company currently owns 18
adult nightclubs and one upscale dance lounge. The night clubs are
located in Indianapolis, IN, St. Louis, MO, Denver and Colorado Springs,
CO, Ft. Worth and Dallas, TX, Raleigh, NC, Minneapolis, MN, Louisville,
KY, Portland, ME, and Miami, FL.
Forward-Looking Statements:
Statements contained in this press release concerning future results,
performance or expectations are forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. These
statements include statements regarding the intent, belief or current
expectations of the Company and members of its management team, as well
as assumptions on which such statements are based. All forward-looking
statements in this press release are based upon information available to
the Company on the date of this press release. Forward-looking
statements involve a number of risks and uncertainties, and other
factors, that could cause actual results, performance or developments to
differ materially from those expressed or implied by those
forward-looking statements including the following: failure of facts to
conform to necessary management estimates and assumptions; the Company’s
ability to identify and secure suitable locations for new nightclubs on
acceptable terms, open the anticipated number of new nightclubs on time
and within budget, achieve anticipated rates of same-store sales, hire
and train additional nightclub personnel and integrate new nightclubs
into its operations; the continued implementation of the Company’s
business discipline over a large nightclub base; unexpected increases in
cost of sales or employee, pre-opening or other expenses; the economic
conditions in the new markets into which the Company expands and
possible uncertainties in the customer base in these areas; fluctuations
in quarterly operating results; seasonality; changes in customer
spending patterns; the impact of any negative publicity or public
attitudes; competitive pressures from other national and regional
nightclub chains; business conditions, such as inflation or a recession,
or other negative effect on nightclub patterns, or some other negative
effect on the economy, in general, including (without limitation) growth
in the nightclub industry and the general economy; changes in monetary
and fiscal policies, laws and regulations; war, insurrection and/or
terrorist attacks on United States soil; and other risks identified from
time to time in the Company’s SEC reports,
including the Annual Report on Form 10-KSB for 2006, Quarterly Reports
on Form 10-QSB and Current Reports on Form 8-K, registration statements,
press releases and other communications. The Company undertakes no
obligation to update or revise forward-looking statements to reflect
changed assumptions, the occurrence of unanticipated events or changes
to future operating results over time.