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Thunderbird Resorts Inc.: August 2013 Revenue Report/Share Buyback Program Update

Sep 9 2013 12:00AM

Marketwire

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PANAMA, REPUBLIC OF PANAMA -- (Marketwired) -- 09/09/13 -- Thunderbird Resorts Inc. ("Thunderbird" or "Group") (EURONEXT: TBIRD)(FRANKFURT: 4TR) reports the following revenues for July 2013. For a more detailed analysis of July 2013 revenue, please visit www.thunderbirdresorts.com and click on "July 2013 Revenue Report - Analysis" located on the home page under "News and Press Releases".

---------------------------------------------------------------------------- Year-over-Thunderbird Resorts Inc. - Group-wide sales year results by country (unaudited, in August August increase/ millions)(1) 2013 2012 (decrease)----------------------------------------------------------------------------Peru(2) $2.73 $2.23 22.42%Costa Rica(3) 1.17 1.25 -6.40%Nicaragua 1.23 1.09 12.84%----------------------------------------------------------------------------Total Consolidated Operating Revenues $5.13 $4.57 12.25%----------------------------------------------------------------------------(1 ) Revenues reported are based on monthly average exchange rates, reportsame store revenues and are in USD millions.(2) 2013 and 2012 revenues consist of all gaming revenue in the country plusrevenue from our fully-owned Fiesta Hotel and management fees for theThunderbird 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 venturesare accounted for whereby proportional consolidation is no longer allowedand equity accounting should be applied to joint ventures. Until furthernotice and for the convenience of the reader and for the illustrativepurposes of this monthly revenue report, the Group has elected to continueto show the Costa Rican joint venture proportional revenues, which vary fromthe way that the Group reports these revenues in our Interim and AnnualFinancial Statements.



SHARE BUYBACK PROGRAM UPDATE

Between August 30, 2013 and September 9, 2013, Thunderbird purchased approximately 16,382 of its own freely tradable shares on the NYSE Euronext at an average price of approximately USD $0.94 per share. The purchases were pursuant to a share buyback program announced by Thunderbird on August 30, 2013.

ABOUT THE COMPANY

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



Contacts:
Thunderbird Resorts Inc.
Peter LeSar
Chief Financial Officer
(507) 223-1234
plesar@thunderbirdresorts.com
www.thunderbirdresorts.com





Source: Marketwire


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