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Thunderbird Ready to Expand in Guatemala20 July 2000San 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. |