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VCG Holding is Taking St. Louis topless clubs private

St. Louis – – VCG Holding, the parent company of five adult-entertainment clubs in the Metro East area, is being taken private by Chief Executive Troy Lowrie. The Colorado-based company announced the deal Wednesday in a news release.

Lowrie is paying $2.25 a share,which the company describes as a 42 percent premium over the stock price in July, when Lowrie first proposed a deal. Over the long run, however, VCG hasn’t done very well for investors: Its share price peaked at $14.66 in 2008 before the recession cut into its business. In 2009, revenue was down 5 percent and earnings per share, before unusual items, fell by more than half.

VCG had been one of two publicly traded strip-club operators, along with Rick’s Cabaret International of Dallas. VCG’s 19 strip joints include PT’s clubs in Brooklyn, Centreville and Sauget, Ill., along with Roxy’s in Brooklyn and Penthouse Club in Sauget.


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