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Squeezebox was hardly a sex club, but a weekly club night with live bands, a rock dj, and a cool (and mostly gay) crowd often peppered with celebs. Sexy it certainly was, but people weren't getting in it on on the dance floor or anything. Ok, maybe just a little.
Seems like their goal was completely clear and you even allude to it in your article. They throw a big glitzy party and get lots of people to come and spend lots of money.