PANAMA, REPUBLIC OF PANAMA--(Marketwire - Sept. 12, 2012) - Thunderbird Resorts Inc. ("Thunderbird" or "Group") (FRANKFURT:4TR)(EURONEXT:TBIRD) reports the following revenues for August 2012:
For a more detailed analysis of August 2012 revenue, please go to the Company's web page at www.thunderbirdresorts.com and click on "August 2012 Revenue Report - Analysis", which will be located on the home page under "News and Press Releases". In the analysis referred to above, please note that non-gaming revenues now represent 13% of the Group's total revenue as compared to up to 20% in recent periods. This shift is indicative of the Group's move away from the hospitality business with recent asset sales, and a refocus on its core gaming business.
| Thunderbird Resorts Inc. - Group-wide sales results by country (unaudited, in millions) | August 2012 | August 2011 | Year-over-year increase/ (decrease) |
| Philippines | 4.11 | 4.01 | 2.49% |
| Peru1 | 2.23 | 2.46 | -9.35% |
| Costa Rica2 | 1.25 | 1.65 | -24.24% |
| Nicaragua | 1.09 | 0.98 | 11.22% |
| Total Consolidated Revenues | 8.68 | 9.10 | -4.62% |
| 1 2012 revenues consist of revenue from the Fiesta Hotel only plus management fees for the Thunderbird Hotel - Pardo, Thunderbird Hotel - Carrera and Thunderbird Hotel - El Pueblo; 2011 revenues consist of revenue from the Fiesta Hotel only plus management fees for the Thunderbird Hotel - Pardo, Thunderbird Hotel - Carrera, Thunderbird Hotel - Bella Vista, and Thunderbird Hotel - Principal. |
| 2 A smoking ban in Costa Rica went into effect in early April 2012 that we believe will impact on revenue over the near term. The Group has experienced smoking bans in other markets, and tends to experience a short-term impact on revenue as the market adjusts to the new restriction. |
About the Company
Thunderbird Resorts owns and operates interated resorts anchored by casinos and standalone casinos in Asia and Latin America. Our mission is to "create extraordinary experiences for our guests." Additional information about the Group is available at www.thunderbirdresorts.com.
Cautionary Notice: This release contains certain forward-looking statements within the meaning of the securities laws and regulations of various international, federal, and state jurisdictions. All statements, other than statements of historical fact, included herein, including without limitation, statements regarding potential revenue and future plans and objectives of the Group are forward-looking statements that involve risk and uncertainties. There can be no assurances that such statements will prove to be accurate and actual results could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Group's forward-looking statements include competitive pressures, unfavorable changes in regulatory structures, and general risks associated with business, all of which are disclosed under the heading "Risk Factors" and elsewhere in the Group's documents filed from time-to-time with the AFM and other regulatory authorities.
Contact Information:
Peter LeSar
Interim CEO & CFO
+(507) 223-1234
plesar@thunderbirdresorts.com
www.thunderbirdresorts.com