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EQS-News: Storm International Has Sold its Mexican Operations

uityStory.RS, LLC-News: Storm International / Key word(s): Strategic
Company Decision
Storm International Has Sold its Mexican Operations

08.11.2016 / 12:30
The issuer is solely responsible for the content of this announcement.


Storm International has sold its Mexico business, Storm International South
America (SILA) in Monterrey, operating since 2009, which comprises two
entertainment complexes, Hollywood I and Hollywood II, with a total of over
1,000 slot machines. Both the amount and the buyer are not disclosed. The
properties are sold to optimize companies' geography of operations and to
receive additional investment to other projects, which are now undergoing
final stages of development, to be announced later.
Michael Boettcher, President of Storm International, made the following
statement: "Both the Monterrey and Mexican business environment have been
very difficult to work with. My company invested well over $30m into
Monterrey, employing over 400 staff and trying to build a future for
everyone involved in our business. That business has become more and more
complicated with the many changes and lack of transparency from both the
local authorities and from SEGOB. We will now move forward and focus on
other promising opportunities and challenges in other countries that are
more open to encouraging foreign investment."
Darren Keane, CEO of Storm International, commented on the deal: "Our
Mexican unit was profitable showing stable business indicators, however we
decided to sell it to concentrate on our preferable geographies - Europe
and Asia. Currently we have several new projects under development, which
demand both financial investment and management to assure their success."
Hollywood Entertainment Complexes are designed in classical style and
resemble American movie theatres of 1950's. Visitors enjoy a wide variety
of slot machines with the latest and most innovative games, available in
different denominations. They are treated to live music bands, live shows
and a great choice of dishes in their restaurant areas. Each property has
exclusive VIP lounges.

Storm International Group was founded by Michael Boettcher in 1992 and runs
entertainment facilities in various countries: Germany, Georgia, Armenia,
Belarus and Russia.
The Shangri La brand casinos, brightening the capital cities of Georgia,
Armenia and Belarus, are the Company's current flagships. Storm Casino now
operates a chain of slot halls in Germany with long-term plans to continue
opening new locations. The restaurant business and leasing space is the
Group's main focus in Russia.


08.11.2016 Dissemination of a Corporate News, transmitted by EquityStory.RS,
LLC - a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Announcements, Financial/Corporate News and Press Releases.
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