Thunderbird Resorts Inc. / September 2015 Revenue Report; Reduction of Group Debt; CEO Purchases Shares of Thunderbird Resorts Inc. . Processed and transmitted by NASDAQ OMX Corporate Solutions. The issuer is solely responsible for the content of this announcement.
PANAMA, REPUBLIC OF PANAMA--(Marketwired - Oct 15, 2015) - Thunderbird Resorts Inc. ("Thunderbird" or "Group") (EURONEXT: TBIRD)(FRANKFURT: 4TR) reports the following revenues for September 2015. For a more detailed analysis of September 2015 revenue, please visit www.thunderbirdresorts.com (http://www.thunderbirdresorts.com) and click on "September 2015 Revenue Report - Analysis" located on the home page under "News and Releases."
Group revenue on as reported basis for September 2015 vs. September 2014.
| Thunderbird Resorts Inc. - Group-wide sales results by country - as reported (unaudited, in millions)(1) | September 2015 | September 2014 | Year-over-year increase/(decrease) | |||
| Peru(2) | $ | 2.20 | $ | 2.48 | -11.29 | % |
| Nicaragua | 1.24 | 1.16 | 6.90 | % | ||
| Total Consolidated Operating Revenues | $ | 3.44 | $ | 3.64 | -5.49 | % |
(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 2014. Under a currency neutral analysis (in which the same exchange rate would be applied to both periods), Group revenue would have grown by $120 thousand or 3.61%; Peru revenue would have reduced by only $20 thousand or -0.90%; and Nicaragua revenue would have grown by $140 thousand or 12.73%.
REDUCTION OF GROUP DEBT
The Company is pleased to announce that it has recently reduced the debt balance owed to a single lender from approximately $3.4 million to $600 thousand, for a gross debt reduction of $2.8 million and one-time gain to the Group of $2.9 million. Gross debt balances forecast for the end of October 2015 are preliminarily estimated at $33 million.
CEO PURCHASES GROUP SHARES
The Company is pleased to announce that its President and CEO, Salomon Guggenheim, has recently purchased 85,000 shares in the Company to bring his share ownership in the Company to 4.7% of the total outstanding shares.
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 (http://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 (mailto:plesar@thunderbirdresorts.com)
www.thunderbirdresorts.com (http://www.thunderbirdresorts.com)
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
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Thunderbird Resorts Inc.
Calle Alberto Navarro El Cangrejo, Apartado Panama, Republic of Panama
Listed: Open Market (Freiverkehr) in Frankfurter Wertpapierbörse;
