VCG Holding Corp.'s President and COO Re-Elected as Association of Club Executives National President
December 11 2007 - 7:00AM
Business Wire
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, d�j� 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.
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