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June 2014 Revenue Report Opening of Fiesta Casino Aurola in Costa Rica

PANAMA, REPUBLIC OF PANAMA -- (Marketwired) -- 07/11/14 -- Thunderbird Resorts Inc. ("Thunderbird" or "Group") (EURONEXT: TBIRD)(FRANKFURT: 4TR) reports the following revenues for June 2014. For a more detailed analysis of June 2014 revenue, please visit and click on "June 2014 Revenue Report - Analysis" located on the home page under "News and Releases."

Thunderbird Resorts Inc. - Group-
 wide sales results by country          June      June       Year-over-year
 (unaudited, in millions)(1)            2014      2013  increase/(decrease)
Peru(2)                              $  2.32   $  2.25                 3.11%
Costa Rica(3)(4)                        0.97      1.15               -15.65%
Nicaragua                               1.13      1.18                -4.24%
Total Consolidated Operating
 Revenues                            $  4.42   $  4.58                -3.49%
(1) Revenues reported are based on monthly average exchange rates, report
same store revenues and are in USD millions. From month to month, exchange
rate fluctuations could cause an impact on revenues as compared to the
previous year.
(2) 2014 and 2013 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.
(4) In October 2013, we reduced 290 gaming positions in Costa Rica that
cost more to maintain on the floor (because of per position gaming taxes)
than their respective revenue. As a result, period revenue has dropped, but
should be reflected in enhanced EBITDA from the related properties.


The Company is pleased to announce the opening of the Fiesta Casino Aurola in Costa Rica. The 570 square meter entertainment venue opened for business in the last week of June with 122 slot machines (expanding to 148 slot machines within the next 90 days), 27 gaming table positions (non poker), 3 poker tables, and 36 F&B seats. This property is located at a 5 star, 196-room hotel in the heart of downtown San Jose, which is a high-density commercial and tourism district.


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

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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