One of the Twin Cities' most prominent strip clubs has a new name and a new owner.
Minneapolis' Schieks Palace Royale is now known as The Downtown Cabaret, now that it's under the same ownership as neighboring Rick's Cabaret, the new operators announced Friday.
Houston-based Rick's Cabaret International bought its former rival for slightly more than $6 million -- $2.875 million for the business and $3.25 million for the associated real estate.
Closing on the transaction had been delayed because the state government shutdown had stalled the issuing of required alcoholic beverage licenses.
Rick's has said it intends to keep both downtown Minneapolis locations open.
PAUL WALSH
