Yaron Naymark from 1 Main Capital on RCI Hospitality $RICK

Yaron Naymark, founder and Portfolio Manager at 1 Main Capital, discusses his investment in RCI Hospitality (RICK). RICK is a cash flow machine, and Yaron thinks the company is set to compound free cash flow per share at an accelerated rate for years as they continue to roll up the gentlemen's club industry at very low multiples, execute on their Bombshell's growth plans, and repurchase shares when they trade at attractive prices.Yaron's Twitter: https://twitter.com/1MainCapital1maincapital's website: https://www.1maincapital.com/Chapters0:00 Intro1:55 RICK overview10:05 Getting comfortable with the management team18:30 Discussing the roll up opportunity28:15 Valuation arbitrage on acquired clubs32:25 Bombshell's growth prospects38:50 Breaking down the ROIC for new Bombshell's44:15 RICK valuation and SOTP49:25 Does ESG and regulation help or hurt RICK?51:55 Normalized FCF for RICK57:10 Closing thoughts and adjusting for James Harden leaving Houston