Thunderbird Resorts Inc.: June 2014 Revenue Report Opening of Fiesta Casino Aurola in Costa Rica
July 11 2014 - 1:28PM
Thunderbird Resorts Inc. / Thunderbird Resorts Inc.: June 2014
Revenue Report Opening of Fiesta Casino Aurola in Costa Rica .
Processed and transmitted by NASDAQ OMX Corporate Solutions. The
issuer is solely responsible for the content of this
announcement.
PANAMA, REPUBLIC OF PANAMA--(Marketwired - Jul 11,
2014) - Thunderbird Resorts Inc. ("Thunderbird" or "Group")
(EURONEXT:TBIRD)(FRANKFURT:4TR) reports the following revenues for
June 2014. For a more detailed analysis of June 2014 revenue,
please visit www.thunderbirdresorts.com and click on "June 2014
Revenue Report - Analysis" located on the home page under "News and
Releases."
Thunderbird Resorts Inc. -
Group-wide sales results by country (unaudited, in millions)(1) |
|
June
2014 |
|
June
2013 |
|
Year-over-year
increase/(decrease) |
|
Peru(2) |
|
$ |
2.32 |
|
$ |
2.25 |
|
3.11 |
% |
Costa Rica(3)(4) |
|
|
0.97 |
|
|
1.15 |
|
-15.65 |
% |
Nicaragua |
|
|
1.13 |
|
|
1.18 |
|
-4.24 |
% |
Total Consolidated Operating
Revenues |
|
$ |
4.42 |
|
$ |
4.58 |
|
-3.49 |
% |
(1) Revenues
reported are based on monthly average exchange rates, report same
store revenues and are in USD millions. From month to month,
exchange rate fluctuations could cause an impact on revenues as
compared to the previous year.
(2) 2014 and
2013 revenues consist of all gaming revenue in the country plus
revenue from our fully-owned Fiesta Hotel and management fees for
the Thunderbird Hotel - Pardo, Thunderbird Hotel - Carrera and
Thunderbird Hotel - El Pueblo, which are owned by third
parties.
(3) Effective
January 1, 2013, IFRS 11 changed the way that joint ventures are
accounted for whereby proportional consolidation is no longer
allowed and equity accounting should be applied to joint ventures.
Until further notice and for the convenience of the reader and for
the illustrative purposes of this monthly revenue report, the Group
has elected to continue to show the Costa Rican joint venture
proportional revenues, which vary from the way that the Group
accounts for these revenues in our Interim and Annual Financial
Statements.
(4) In October
2013, we reduced 290 gaming positions in Costa Rica that cost more
to maintain on the floor (because of per position gaming taxes)
than their respective revenue. As a result, period revenue has
dropped, but should be reflected in enhanced EBITDA from the
related properties.
OPENING OF
FIESTA CASINO AUROLA IN COSTA RICA
The Company is pleased to announce the opening of
the Fiesta Casino Aurola in Costa Rica. The 570 square meter
entertainment venue opened for business in the last week of June
with 122 slot machines (expanding to 148 slot machines within the
next 90 days), 27 gaming table positions (non poker), 3 poker
tables, and 36 F&B seats. This property is located at a 5 star,
196-room hotel in the heart of downtown San Jose, which is a
high-density commercial and tourism district.
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 on its Website 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.
Thunderbird Resorts Inc.
Peter LeSar
Chief Financial Officer
(507) 223-1234
plesar@thunderbirdresorts.com
www.thunderbirdresorts.com
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Thunderbird Resorts Inc. via Globenewswire
HUG#1823033
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