Trans World Corporation updates 2008 company outlook

TWC anticipates the release of its full quarterly and year-to-date financial results by the first week of November 2008. In comparison to the third quarter of 2007, the company enjoyed higher attendance, higher drop per head, and an improved win percentage, all of which translated to revenue of approximately us$ 9.4 million for the third quarter of 2008 versus us$ 7.5 million for the same quarter in 2007, an increase of 25%. As a result, TWC also expects strong earnings, as compared to the same period in 2007.

"We have not felt the impact of the economic crisis that other public companies are experiencing." stated Rami Ramadan, CEO of TWC. "TWC has had a very good year so far, despite the current volatile market conditions."

This result is due to improvements at the company’s existing properties and its continuing efforts to expand and diversify its gaming operations. At the Route 59 Casino, close to Znojmo, Czech Republic, just 45 minutes north of Vienna, Austria, TWC’s four-star Hotel Savannah is nearing completion and is expected to open in late 2008. Additionally, a left-turn access road from the international route providing patrons with direct ingress to the casino and hotel has just been opened.

Furthermore and most significantly to TWC’s shareholders, the government of the Czech Republic has just renewed the casino license of TWC’s Czech subsidiary, American Chance Casinos, for another 10 years, thus re-affirming its faith in the stability of the company.