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Thunderbird Resorts Inc.: November 2013 Revenue Report

PANAMA, REPUBLIC OF PANAMA -- (Marketwired) -- 12/10/13 -- Thunderbird Resorts Inc. ("Thunderbird" or "Group") (EURONEXT: TBIRD)(FRANKFURT: 4TR) reports the following revenues for November 2013. For a more detailed analysis of November 2013 revenue, please visit and click on "November 2013 Revenue Report - Analysis" located on the home page under "News and Press Releases".

 Thunderbird Resorts Inc. -
  Group-wide sales results by
  country (unaudited, in           November   November       Year-over-year
  millions)(1)                         2013       2012  increase/(decrease)
 Peru(2)                              $2.37      $2.46               -3.66%
 Costa Rica(3)                         0.98       1.17              -16.24%
 Nicaragua                             1.10       1.06                3.77%
 Total Consolidated Operating
  Revenues                            $4.45      $4.69               -5.12%
(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.


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

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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