Thunderbird Operations in Latin America.Business Editors SAN DIEGO--(BUSINESS WIRE)--Aug. 17, 2000 International Thunderbird thunderbird In North American Indian mythology, a powerful spirit in the form of a bird that watered the earth and made vegetation grow. Lightning was believed to flash from its eyes or beak, and the beating of its wings was thought to represent rolling thunder. Gaming Corporation (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :INB INB Inbound INB Internal Network Bus INB Intranodal Buffer INB Install Busy INB Input Buffer Control Block .) is pleased to announce that it has entered into a Lease Agreement with the Hotel Presidente to operate its casino. The Hotel Presidente is located within a high walking traffic pedestrian mall pedestrian mall pedestrian (US) n → Fußgängerzone f pedestrian mall n (US) → zona pedonale (200,000 pedestrians per day) in downtown San Jose Downtown San Jose is the central business district of San Jose, California, United States. The area is generally located north of Interstate 280 and east of Guadalupe Parkway, which roughly parallels Guadalupe River. , Costa Rica. The casino will operate with 7 table games and 100 gaming machines. The population in Costa Rica is 3.7 million made up of a large middle-income sector. Costa Rica is a developing country with a strong democratic tradition and is the home to many American-style businesses. San Jose, which is the capital of Costa Rica Noun 1. capital of Costa Rica - the capital and largest city of Costa Rica San Jose Costa Rica, Republic of Costa Rica - a republic in Central America; one of the most politically stable countries in Latin America , is the site for many economic and financial institutions. Thunderbird is working toward an October 1, 2000 opening date and expects that the casino operation will contribute to revenue in the fourth quarter. The casino at the Hotel Presidente is the second business opportunity for Thunderbird following the announcement August 4th in which Thunderbird entered into a Memorandum of Understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. to acquire the Casino Concorde operation within the Irazu-Best Western Hotel. The Company is negotiating with another group concerning an additional gaming business opportunity in Costa Rica The Company has also entered into an agreement with JDMI Corporation to operate a "skill machine" video gaming operation in Matamoros, Mexico. JDMI is a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. in which Thunderbird owns an equity share. With skill machines, the player must make a decision to stop the video reel by pressing a button on the machine panel. The player's skill and knowledge of the game determines the player's ability to win. The Matamoros facility is scheduled to open on Thursday, August 17, 2000 with 80 skill machines, which may be increased up to approximately 150 according to market demand. Other facilities may be developed in Mexico depending on the success of the Matamoros site. Thunderbird will initially receive approximately 24% of the net income for operating the Matamoros facility. After JDMI recoups its initial capital investment in this project, Thunderbird will receive 43% of net income for its services. International Thunderbird Gaming Corporation is an owner and manager of international gaming facilities. The Company's shares trade on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. 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 (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Cautionary Notice This release contains certain [pilcrow (paragraph sign)] 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 future 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. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion