PT’s Showclub Portland Recently Sold
PT's has been a Portland Staple on Riverside Street for years. A go-to spot for bachelor parties, a sexy show, drinks, and food.
Now the long-standing adult entertainment club is in new hands
PT's Showclub is part of a larger chain of adult entertainment clubs that were recently sold in a huge deal.
BizJournals.com reports that in addition to the Portland, Maine location, PT's in Denver, Colorado, St. Louis Missouri, Indianapolis, Indiana, Raleigh, North Carolina, and Louisville, Kentucky were also part of this deal. PT's was purchased by RCI Hospitality Holdings for $88 million. $57 million for the clubs alone. In 2019 the clubs generated approximately $40 million in revenue.
What's Next for PT's Portland?
RCI specializes in nightclubs and in a release noted in the BizJournals.com article, the president and CEO stated that part of the motivation for the purchase was that PT's across the country have proven to be money makers, quality businesses, and come with great locations.
While no specific details have been released regarding any plans for changes at PT's Portland, it appears that for now, it will be business as usual.