Thunderbird Resorts Announces Casino-Resort Project
Thunderbird Resorts, Inc. announced the completion of the acquisition of land for a new casino-resort project in Costa Rica. The "Thunderbird Resort - Tres Rios" project encompasses approximately 11 hectares of scenic land located in the "under-served" eastern suburbs of San José.
The development theme for the entire project is consistent with the natural beauty of the area. The property is one of the only available locations zoned for tourism development and has excellent access by way of Costa Rica's main East-West highway. Across this highway from the project site is a new highly successful "super mall" called "TerraMall". The Thunderbird resorts Tres Rios project will target the eastern San José population of approximately 500,000 middle and upper-class residents who reside in La Union and throughout the province of Cartago.
The Cartago area is one of the important tourist destinations for Costa Rica's more than 1.5 million annual visitors, who spend over us$1.5 billion annually. Currently none of these markets are served by a resort hotel, convention center or casino product. Thunderbird Tres Rios will be anchored by a luxury resort hotel, a Las Vegas style casino, a world-class convention center, a world-class spa and health club, commercial real estate and a private residential community.
The Tres Rios development conforms with Thunderbird's mission to become the leading recreational property developer and operator in each of its markets, whose resorts are anchored by casinos.Thunderbird Resorts’ subsidiary, Thunderbird de Costa Rica, has focused intensely on Costa Rica since late 2003. The market stability, talented work force and large tourism sector have made Costa Rica a bright spot for foreign investment in Latin America. Thunderbird de Costa Rica has rapidly increased its market share and is currently operating four casinos in the San José area, including Thunderbird’s flagship casino, Fiesta Casino Costa Rica at the Garden Court Hotel which opened for business in March of 2005. The other Thunderbird de Costa Rica casinos are the Fiesta Casino, at the Presidente Hotel; Gran Hotel and Casino; and the Fiesta Casino Heredia.
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