Can a business that lines up companies looking to advertise with bars and nightclubs be successful?

The business would use hand stamps and wristbands with the companies logos and/or email address to advertise in bars and clubs. Would companies and nightclubs be interested in something like this or is this already being done across the U.S.?

i am not an expert, however, i live in kansas.
missouri and kansas are losing a lot of business in their bars because there is no smoking. after a couple of drinks and a sandwich, people begin to ease on out of the club.
the news has had plenty of coverage, showing the discontent of the owners of bars and clubs. so...maybe companies should not be looking to advertise with bars and nightclubs. not successful. also, more and more people are turning their lives over to Christ. seems like less and less people hangout in bars nowadays. advertise somewherelse.

Sure this could be successful, and it is used all over the place now. But you have to really be careful in your advertising, there are strict laws about advertisements regarding alcohol.
I would seek the advise of a good advertising attorney to see what you legalities are.
And worth allot of hard work I am sure you should make a great business out of this.

Opinion:
Possible barriers to entry are the larger clubs (your target market) are heavily granted promotional items form their existing vendors/suppliers. For instance, wristbands are often provided at no cost with a logo appearing from a large brand name alcohol or a new promotional beverage.
If you wanted to promote your client's interest, not only would you have to charge the client for the materials and production but offer the club some incentive as well. As bars are a great medium for branding, you must admit the focus is on the drinks and sales.
Both the stamps and the wristbands are not long lasting with the consumer (the stamp is way less than the wristband). It's not that the idea isn't good or someone wouldn't benefit, but it's hard to promote a non competitive interest at a bar. You couldn't promote any food or beverage etc. meaning you're likely left with websites and magazine type promotions.
It will be a harder sell to the client that your intention is to create a 'memorable' brand by placing a wristband on a potentially drunk person...who may not even remember where they parked, let alone the client's product.
Bar ads used to appear frequently in the restrooms in ad panels but I've noticed a decline in those as well. I just don't think people are in the mode to be sold on particulars in a bar setting, but they do offer nice branding opportunities with continuous exposure and cross promotional campaigns.