Sam’s Clubs is hoping to keep the cash flowing this year and next, the club’s latest financial report shows.
The Singapore Strip Club Association (SSCA) will receive an additional $3 million in the 2018-19 financial year from the sale of Sam’s stores, which include the Sapphire strip club in the city.SBCA chairman and chief executive Michael Tung said the club is still planning for the future, which includes building its own retail space and expanding its business to include other retail brands such as KFC.
Sam’s Club has been operating for less than a decade.
Last year, it was the first of its kind in Australia, with a first-time store opening on the Sydney Harbour Bridge.
Sapphire Strip Club will be sold to an overseas company for $3.1 million, SSCA chief executive officer Richard Chan said in the statement.
“We have always had a commitment to grow our business through new retail opportunities, including in Asia and the United States,” he said.
“Sam’s has always provided us with exceptional retail and restaurant locations, and we will continue to deliver to our customers with the best of them.”
The SBCA expects to continue operating the Sapphire Strip Club through 2020, when the club plans to close the doors.
Sam has a reputation for offering great service, according to the SBCC, which says it is committed to delivering on this commitment.
“In keeping with the spirit of Sam, we will be open 24 hours a day, seven days a week,” Chan said.