MONTCLAIR, N.J., April 5, 2005 (PRIMEZONE) -- Headliners Entertainment Group, Inc. (OTCBB:HLEG) announced today that, it has completed the acquisition of 6 night clubs. The clubs add $14 million in annual revenues and a 15% pretax profit to our bottom line.
Ed Rodriguez, Headliners Chairman and CEO, made the following comments:
"The addition of these six clubs, in six cities where we have never been before (Cincinnati OH, Jackson MS, Tucson AZ, Omaha NE, Kansas City MO, Louisville KY), instantly gives Headliners a nationwide presence and new respect in the industry. It is our intention to build on this base and create a major entertainment complex to reward our loyal shareholders."
About Headliners Entertainment Group Inc.:
Headliners owns and operates Rascals Comedy Club, 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.
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. The company also owns 6 dance clubs to add to its revenue.
For further information, visit www.rascals.net 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.