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Thunderbird Operations In Costa Rica4 August 2000SAN DIEGO, California –(Press Release)-- August 4, 2000 – International Thunderbird Gaming Corporation (TSE - INB) is pleased to announce that the Company has entered into a Memorandum of Understanding to acquire a 90 % interest in Casino Concord located within the Irazu-Best Western Hotel. The Irazu-Best Western Hotel has 327 rooms and is located in San Jose, Costa Rica. The Casino Concord has 15 table games and 70 gaming machines within a facility of 600 square meters. Thunderbird is acquiring an existing operation that has historically ranked as one of the best revenue producing operations in Costa Rica. The population in Costa Rica is 3.7 million. San Jose, which is the capital of Costa Rica, is the site for many economic and financial institutions. Costa Rica is made up of a large middle-income population, is a developing country with a strong democratic tradition and is the home to many American style businesses. The Company is working toward a September 15, 2000 closing date on this acquisition and expects that the casino operation will contribute to revenue at the end of the third quarter and into the fourth quarter. The Company is negotiating with other groups concerning two additional gaming business opportunities in Costa Rica. |