Thunderbird Resorts Inc.
FRANKFURT : 4TR
EURONEXT : TBIRD

Thunderbird Resorts Inc.

February 11, 2016 13:29 ET

Thunderbird Resorts Inc.: January 2016 Revenue Report and Resignation of Directors

PANAMA, REPUBLIC OF PANAMA--(Marketwired - Feb. 11, 2016) - Thunderbird Resorts Inc. ("Thunderbird" or "Group") (EURONEXT:TBIRD)(FRANKFURT:4TR) reports the following revenues for January 2016. For a more detailed analysis of January 2016 revenue, please visit www.thunderbirdresorts.com and click on "January 2016 Revenue Report - Analysis" located on the home page under "News and Releases."

Group revenue for January 2016 vs. January 2015.

Group-wide sales by country - (unaudited, in millions)(1) January
2016
January
2015
Year-over-year
increase/(decrease)
Peru(2) $2.11 $2.52 -16.27%
Nicaragua 1.24 1.06 16.98%
Total Consolidated Operating Revenues $3.35 $3.58 -6.42%

1 Revenues reported are based on monthly average exchange rates, are same store and are in USD millions.

2 Revenues are generated primarily from gaming, and secondarily from our fully-owned Fiesta Hotel and from 2 hotels under management.

Important Note on Forex: The strengthening of the US dollar versus our operating currencies continues to have a material impact on our business as compared to the same period in 2015. Under a currency neutral analysis (in which the same exchange rate would be applied to both periods), Group revenue would have grown by $140 thousand or 4.36%; Peru revenue would have reduced by $90 thousand or -4.09%; and Nicaragua revenue would have grown by $230 thousand or 22.77%.

RESIGNATION OF DIRECTORS

The Company announces that Reto Stadelmann has resigned his position as a board member effective February 15, 2016. Mr. Stadelmann will focus now on his own personal and business related endeavors. The Company wishes Mr. Stadelmann all the best and thanks him for the valuable contributions he has made throughout his tenure as a member of the board by applying his knowledge and experience to guide management's efforts and serve the best interests of our shareholders. In order for the Company's board to continue maintaining independence, the Company has accepted Albert W. Atallah's resignation as a director effective February 15, 2016. Mr. Atallah will remain as General Counsel. The Company's three-member board will now consist of two independent board members, Doug Vicari and George Gruenberg. Salomon Guggenheim will continue his tenure as President, CEO and Chairman of the Board.

ABOUT THE COMPANY

We are an international provider of branded casino and hospitality services, focused on markets in 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.

Amsterdam, The Netherlands - 19:20

Contact Information