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Assets Held for Sale	9 Months Ended
Jun. 30, 2020
Assets Held For Sale
Assets Held for Sale	6. Assets Held for Sale As of September 30, 2019, the Company had two real estate properties for sale. The aggregate estimated fair value of the properties less cost to sell as of September 30, 2019 was approximately $2.9 million and was reclassified to assets held for sale in the Company’s consolidated balance sheet. The assets were measured at the carrying value as adjusted for depreciation, which was lower than the fair value at the date reclassified. During the three months ended December 31, 2019, the Company classified as held-for-sale another real estate property with an aggregate estimated fair value of the property less cost to sell of $1.9 million. This property was later reclassified out of held-for-sale assets and back to property and equipment during the three months ended June 30, 2020 due to a change in management’s plan with the property. During the three months ended June 30, 2020, the Company sold one held-for-sale property valued at $853,000 for $1.5 million. As of June 30, 2020, the Company has a total of one real estate property held for sale with a total value of $2.0 million. The Company expects the properties held for sale, which are primarily comprised of land and buildings, to be sold within 12 months through property listings by our real estate brokers. No liabilities were associated with held-for-sale assets as of June 30, 2020 and September 30, 2019. Gains or losses on the sale of properties held for sale are included in other charges (gains), net within the unaudited condensed consolidated statements of operations. RCI HOSPITALITY HOLDINGS, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

Assets Held for Sale

9 Months Ended

Jun. 30, 2020

6. Assets Held for Sale

As of September 30, 2019, the Company had two real estate properties for sale. The aggregate estimated fair value of the properties less cost to sell as of September 30, 2019 was approximately $2.9 million and was reclassified to assets held for sale in the Company’s consolidated balance sheet. The assets were measured at the carrying value as adjusted for depreciation, which was lower than the fair value at the date reclassified.

During the three months ended December 31, 2019, the Company classified as held-for-sale another real estate property with an aggregate estimated fair value of the property less cost to sell of $1.9 million. This property was later reclassified out of held-for-sale assets and back to property and equipment during the three months ended June 30, 2020 due to a change in management’s plan with the property.

During the three months ended June 30, 2020, the Company sold one held-for-sale property valued at $853,000 for $1.5 million.

As of June 30, 2020, the Company has a total of one real estate property held for sale with a total value of $2.0 million.

The Company expects the properties held for sale, which are primarily comprised of land and buildings, to be sold within 12 months through property listings by our real estate brokers.

No liabilities were associated with held-for-sale assets as of June 30, 2020 and September 30, 2019. Gains or losses on the sale of properties held for sale are included in other charges (gains), net within the unaudited condensed consolidated statements of operations.

RCI HOSPITALITY HOLDINGS, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)