San Diego, CA,
July 20, 2000
International Thunderbird Gaming Corporation (TSE - INB) is pleased to announce that it is planning its expansion in Guatemala. The Company has won the final legal appeal with the Government of Guatemala, securing our existing operation in Guatemala City.
Thunderbird is planning to expand its business in Guatemala, and there are ongoing negotiations with several hotels to obtain the best locations for expansion.
The Company believes it can effectively and efficiently develop two or more locations at the same time. The new sites will be at premiere hotels located in areas that do not overlap the existing market area of the Camino Real location.
In the trailing 12 months ended May 31, 2000, the Company’s Return on Investment (ROI) has exceeded 70% on its existing property in Guatemala. This ROI was achieved with no debt at the project level. Going forward, Thunderbird is optimistic that similar returns may be achieved in additional locations. Thunderbird is exploring whether project financing can be secured on attractive terms, potentially enhancing the ROI to Thunderbird shareholders.
International Thunderbird Gaming Corporation is an owner and manager of international gaming facilities. The Company’s shares trade on the Toronto Stock Exchange under the symbol INB. Additional information about the Company is available on its World Wide Web site at www.thunderbirdgaming.com.
On behalf of the Board of Directors
Jack R. Mitchell
President and CEO
Cautionary Notice: This release contains certain forward-looking statements within the meaning of section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein, including without limitation, statements regarding potential revenue and plans and objectives of the Company 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 Company'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 Company's documents filed from time-to-time with the TSE and other regulatory authorities.
Contact: Investor Relations
Phone (858) 451-3637