Source - GNW

Thunderbird Resorts Inc. / Thunderbird's Gaming Operations in Peru Are Sold . Processed and transmitted by Nasdaq Corporate Solutions. The issuer is solely responsible for the content of this announcement.

ZURICH, Switzerland, April 14, 2018 (GLOBE NEWSWIRE) -- Thunderbird Resorts Inc. ("Thunderbird" or "Group") (Euronext Amsterdam:TBIRD) (FSE:4TR): In accordance with the Group's press release of October 5, 2017, the Group is pleased to announce that it has sold all of our Peruvian gaming operations to Sun Dreams S.A. of Chile for a sale price of USD $26 million. The Peruvian gaming operations include our local flagship Fiesta Casino consisting of approximately 680 gaming positions and 3 other gaming operations in Peru, with approximately 560 gaming positions. The sale also includes approximately 7,000 m2 of gaming real estate and 150 parking spaces.    

The Group continues to own a mixed-use, 19-story tower in Lima, Peru comprised of a 66 all-suite hotel, approximately 5,400 m2 of leasable offices, and 158 underground parking spaces.

More information about the Group's remaining assets, liabilities, and its plans for the future will be published in its 2017 Annual Report no later than April 30, 2018.

We will keep you informed as there are material events and progress.

Salomon Guggenheim
Chief Executive Officer and President

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.

Contact: Peter LeSar, Chief Financial Officer  Email[email protected]

Cautionary Notice:  Cautionary Notice: This disclosure 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 in this press release, half year report and Annual Report, including without limitation, statements regarding financial statements, balance sheet, debt, potential revenue and future plans and objectives of Thunderbird 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 Thunderbird'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 Thunderbird's documents filed from time-to-time with the Euronext Amsterdam and other regulatory authorities.




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Source: Thunderbird Resorts Inc. via Globenewswire