Business

Thee Doll House Is Sold to Colorado Firm for $10.1M in Cash Plus Stock

Posted April 17, 2007 3:54 p.m. EDT

Thee Doll House, an adult night club in northeast Raleigh, has a new owner.

VCG Holding Corp., an operator of adult nightclubs based in Colorado, said Tuesday it had closed on the purchase of the assets of Regale, Inc.

Regale operated Thee Doll House on Yonkers Road.

VCG paid $10,100,000 in cash plus 9,747 shares of stock for the club.

VCG shares traded at $8.14 on Tuesday afternoon.

The name of the club will be changed to “The Men’s Club” under a trademark license from Hospitality Licensing Corporation.

In a statement, VCG said it expected the club to generate $6.45 million in gross revenues annually