Revenue numbers for June have just been announced by Thunderbird Resorts Inc, provider of branded casino and hospitality services focused on markets in Central America, South America, Southeast Asia, and India. The company has reported a year-over-year decrease in all operations apart from hotel revenues in Peru, which saw a 54.5% rise in revenue mainly due to additional management fees from more hotels.
Peruvian gaming operations saw revenue fall 7.4% from June 2010. Thunderbird attributes this decline to a smoking ban that took effect in Lima on 29 March 2011. The company hopes the impact of the ban will diminish over time. Another smoking ban, this time in the Philippines, slowed revenue growth at the Group’s Poro Point property. Also in the Philippines, ongoing construction in Rizal closed some gaming areas.
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Revenue in the Philippines was down 0.8% this June.
In Costa Rica the economic situation caused a 16% drop in revenue. The country is suffering from the recession with higher unemployment, which is impacting the gaming market. In Nicaragua there was an 8.8% fall in revenue but the company did not attribute this to any particular cause. (E-07.14.11)
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