The Diamond Cabaret is a downtown goer's best friend, according to the owner of the Denver strip club.
"We're the cherry on top of everything that goes on for the convention center," said Troy Lowrie, CEO of VCG Holding Corp.
"When people decide to book a convention in Denver, they know they need nice restaurants, good hotels and world-class entertainment. We think we're filling part of that need and are working in conjunction to bring conventions here in a way," Lowrie added.
Millions of dollars are being invested in the area around the Diamond Cabaret, including with the planned redevelopment of Emily Griffith campus across the street and the expansion of the nearby Colorado Convention Center. The Diamond Cabaret ownership welcomes the growth and sees itself as a good element in the core of the city.
Visit Denver, the city of Denver and Downtown Denver declined to talk to Denverite about the Diamond Cabaret. The Colorado Convention Center and Denver Urban Renewal Authority did not return inquiries about how the strip club fits in with the planned changes.
"To have new growth across the street is only more exciting for us," Lowrie said. "We only see things in Denver getting better for us."
The two-story, 32,000-square-foot Diamond Cabaret can be hard to miss. Hundreds drive by the venue near West Colfax Avenue and Glenarm Place daily. And the club is only feet away from the Colorado Convention Center, 16th Street Mall, Colorado State Capitol and Civic Center Park. There are also mobile billboards around town that bring the cabaret attention.
The tan cabaret building at 1222 Glenarm Place includes Diamond After Dark and CY Steakhouse. The business features seven stages, about 50 employees and 200 contracted workers. Lowrie said 2017 was the club's best financial year, with an excess of $7 million in annual revenue.
But 2017 also brought a class action suit that accused PT’s Show Club, PT’s All Nude, Diamond Cabaret, La Boheme and The Penthouse Club of exploiting their exotic dancers. Lakewood based VCG Holding Corp. owns all five clubs.
Diamond Cabaret is one of most the elite clubs in the country and women feel safe there, Lowrie said.
"We empower women. I think we're a launching pad. I always say, 'I want to leave an entertainer better than I found her.' So we might teach girls how to balance their checkbooks. We're going to teach them to manage time better. We're trying to make them better people as they come out. We don't want it to be a career for them, we want it to be a stepping stone to get through college or do something better than when we found them."
Diamond Cabaret's lease goes to 2028, Lowrie said.
"We're excited to be a part of the growth, and we still think we're the highest and best use of that property," he said.
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Business & data reporter Adrian D. Garcia can be reached via email at [email protected] or twitter.com/adriandgarcia.
