MONTCLAIR, N.J., May 20, 2004 (PRIMEZONE) -- Rascals International Inc. (OTCBB:RSCA) recently announced revenue and profit figures for the first sixty days of its now triple venue complex in Jackson, Mississippi.
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."
About Rascals International, Inc.
Rascals International, Inc. is one of the premier comedy clubs in the United States, drawing upon its respected national recognition and rich history of providing the highest quality comedic entertainment in the industry. Currently, the company prides itself on its ability to employ successful entertainers at its' growing chain of venues, both in its stand-alone and hotel-based operations.
For further information, visit www.rascalscomedyclub.com or contact Ed Rodriguez at 973-233-1233
The information in this press release includes certain "forward-looking" statements within the meaning of the Safe Harbor provisions of Federal Securities Laws. Investors are cautioned that such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including the future financial performance of the Company. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will provide to be correct. Factors that could cause results to differ include, but are not limited to successful performances of internal plans, the impact of competitors, and general economic risks and uncertainties.