International Thunderbird Gaming Corp.: Guatemala to Receive Thunderbird Video Lottery Terminals.VANCOUVER, British Columbia--(BUSINESS WIRE)--Oct. 22, 1997--INT'L THUNDERBIRD (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). , VSE See DOS/VSE. VSE - Virtual Storage Extended : INB INB Inbound INB Internal Network Bus INB Intranodal Buffer INB Install Busy INB Input Buffer Control Block .) -- International Thunderbird Gaming Corporation is pleased to announce that Guatemala is the country in Central America to receive the 2,000 video lottery terminals (VLTs) as reported in the Company's recent press release of Sept. 15, 1997. International Thunderbird Gaming Corporation executed a formal agreement with Public Gaming Research Institute Inc. (PGR), and its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Institute for the Lotteries of Latin America and the Caribbean (ILAC ILAC International Laboratory Accreditation Cooperation ILAC International Laboratory Accreditation Conference ILAC Institute for Latin American Concern ILAC In-Line Amplifier Card ILAC International Association of Lactation Consultants ), to supply and manage up to 2,000 video lottery terminals in Guatemala. The Fundacion Pediatrica Guatemaltec ("FPG FPG Fasting plasma glucose, see there ", the Pediatric pediatric /pe·di·at·ric/ (pe?de-at´rik) pertaining to the health of children. pe·di·at·ric adj. Of or relating to pediatrics. Foundation of Guatemala) holds a license issued by the Guatemala government to operate lottery games and has contracted with ILAC to oversee these concessions. PGR, through ILAC, their agents and subsidiaries, has selected International Thunderbird Gaming Corporation to supply and operate an initial 2,000 VLTs on a revenue sharing arrangement for five years. FPG has approved the contractual agreement between ILAC and International Thunderbird. FPG is a non-profit organization dedicated to the care and well being of infants and children in Guatemala, and will share in the revenues generated by the VLTs. The Company is currently undertaking leasehold improvements at the Camino Real Hotel The "Camino Real Hotel" established in 1912, this landmark in the heart of El Paso has brought together the elegance that characterizes the Camino Real name and all the warmth and tradition of Southern hospitality. , in Guatemala City, which will host the initial shipment of 300 VLTs. International Thunderbird anticipates that these 300 terminals will be operational in December. Camino Real is a five star hotel located in the popular tourist district of Guatemala City, one of the largest commercial centers in Central America. Currently, International Thunderbird has over 2,900 gaming machines in North America on revenue sharing arrangements that generated over $21 million in revenues for the Company last year. This agreement in Guatemala is another step forward for International Thunderbird as it continues to expand into the worldwide marketplace as a supplier of gaming products and a manager of gaming operations. International Thunderbird Gaming Corporation is negotiating additional revenue sharing arrangements and acquisitions which look very promising. The Company expects to announce the developments over the next few weeks. International Thunderbird Gaming Corporation has a proven track record of developing quality and innovative gaming products. On behalf of the Board of Directors Hari B. Varshney, Co-Chairman CONTACT: International Thunderbird Gaming Corporation Alan E. Schneider, 604/687-2255 or 1-800-914-8462 (Toll Free) 604/682-4768 (FAX) E-mail: alans@intltbird.com http://www.intltbird.com |
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