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Denver-based VCG Holding Corp., an operator of adult-entertainment venues, said Thursday that a letter of intent to merge VCG into Rick’s Cabaret International Inc. has expired.
Rick’s last month agreed to acquire all of the outstanding stock of VCG, but the companies were unable to reach a definitive merger agreement.
VCG operates 20 clubs in 10 states, including the Diamond Cabaret and the Penthouse Club in the Denver area.
