September 2015 Revenue Report; Reduction of Group Debt; CEO Purchases Shares of Thunderbird Resorts Inc.
(Thomson Reuters ONE) -
Thunderbird Resorts Inc. /
September 2015 Revenue Report; Reduction of Group Debt; CEO Purchases Shares of
Thunderbird Resorts Inc.
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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 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 |September|September| Year-over-year |
|millions)((1)) | 2015| 2014|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.
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(at)thunderbirdresorts.com
www.thunderbirdresorts.com
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Thunderbird Resorts Inc. via GlobeNewswire
[HUG#1959273]
Unternehmensinformation / Kurzprofil:
Datum: 15.10.2015 - 23:33 Uhr
Sprache: Deutsch
News-ID 427365
Anzahl Zeichen: 5697
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