|By Marketwired .||
|November 8, 2013 01:14 PM EST||
PANAMA, REPUBLIC OF PANAMA -- (Marketwired) -- 11/08/13 -- Thunderbird Resorts Inc. ("Thunderbird" or "Group") (FRANKFURT:4TR)(EURONEXT:TBIRD) reports the following revenues for October 2013. For a more detailed analysis of October 2013 revenue, please visit www.thunderbirdresorts.com and click on "October 2013 Revenue Report - Analysis" located on the home page under "News and Press Releases".
---------------------------------------------------------------------------- Thunderbird Resorts Inc. - Group- wide sales results by country October October Year-over-year (unaudited, in millions)(1) 2013 2012 increase/(decrease) ---------------------------------------------------------------------------- Peru(2) $ 2.65 $ 2.66 -0.38% Costa Rica(3) 1.11 1.13 -1.77% Nicaragua 1.26 1.15 9.57% ---------------------------------------------------------------------------- Total Consolidated Operating Revenues $ 5.02 $ 4.94 1.62% ---------------------------------------------------------------------------- (1) Revenues reported are based on monthly average exchange rates, report same store revenues and are in USD millions. (2) 2013 and 2012 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.
SHARE BUYBACK PROGRAM UPDATE
On October 31, 2013, Thunderbird issued an update pertaining to its share buyback program. It reported that 49,833 shares were purchased between October 24, 2013 and October 31, 2013; however, the correct number of shares purchased during that timeframe was actually 49,133.
Between November 1, 2013 and November 8, 2013, Thunderbird purchased approximately 18,000 of its own freely tradable shares on the NYSE Euronext at an average price of approximately USD $0.95 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 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.
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