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Thunderbird's Gaming Operations in Peru to be Sold

PR-Inside.com: 2017-10-06 05:25:01

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

ZURICH, Switzerland, Oct. 05, 2017 (GLOBE NEWSWIRE) -- Thunderbird Resorts Inc. ("Thunderbird" or "Group") (Euronext Amsterdam:TBIRD) (FSE:4TR): The Group owns a mixed-use, 19-story tower in Lima, Peru that is comprised of a 66 all-suite hotel, approximately 5,400 m2 of leasable offices, approximately 7,000 m2 casino operation with approximately 680 gaming positions, and 308 underground parking spaces.  The Group also operates 3 other gaming operations in Peru, with an additional approximately 560 gaming positions.

The Group is pleased to announce that it has signed binding agreements with SunDreams S.A. of Chile to sell all of our Peruvian gaming operations plus the approximately 7,000 m2 of gaming real estate and approximately 150 parking spaces.  The price for these assets is USD $26 million.  The transaction is subject to certain conditions precedent and regulatory approvals, and is projected to be completed before the end of January 2018.

The Group is not selling its 66 all-suite Fiesta hotel or its approximately 5,400 m2 of leasable offices or the remaining parking area as a part of this transaction.  We will continue to pursue transaction(s) that support the best interests of shareholders as per the shareholder mandate set forth in the September 21, 2016, Special Resolutions.  We will keep you informed as to any material events and/or 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   Emailplesar@thunderbirdresorts.com

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 the Annual Report, including without limitation, statements regarding 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.




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Thunderbird Resorts Inc. via Globenewswire




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