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&lt;p style="MARGIN: 0in 0in 0pt 0.25in;"&gt;&lt;font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2"&gt;Trans World Corporation, a Nevada corporation, and Subsidiaries are primarily engaged in the gaming and hotel business in the Czech Republic.&lt;/font&gt;&lt;/p&gt;
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&lt;p style="MARGIN: 0in 0in 0pt 0.25in;"&gt;&lt;font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2"&gt;The Company owns and operates three casinos in the Czech Republic (&amp;#8220;CZ&amp;#8221;), all under the American Chance Casinos (&amp;#8220;ACC&amp;#8221;) brand. The Ceska casino (&amp;#8220;Ceska&amp;#8221;), located in the town of Ceska Kubice, in the western part of the CZ, close to the German border, currently has 15 gaming tables and 80 slot machines.&amp;#160; The Route 55 casino (&amp;#8220;Route 55&amp;#8221;), located in Dolni Dvoriste, in the southern part of the CZ, close to the Austrian border, has 23 gaming tables and 124 slot machines. The Route 59 casino (&amp;#8220;Route 59&amp;#8221;), is located in Hate, near Znojmo, in the CZ, and currently has 23 gaming tables and 118 slot machines.&lt;/font&gt;&lt;/p&gt;
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&lt;p style="MARGIN: 0in 0in 0pt 0.25in;"&gt;&lt;font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2"&gt;In addition to the above gaming operations, TWC also owns and operates a 77-room, four-star deluxe hotel, the Hotel Savannah, which is physically connected to its Route 59 casino, and a full-service spa, the Spa at Savannah (the &amp;#8220;Spa&amp;#8221;), which is operated by an independent contractor and is attached to the hotel.&amp;#160; The hotel features eight banquet halls for meetings and special events as well as a full-service restaurant and bar.&lt;/font&gt;&lt;/p&gt;
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&lt;p style="MARGIN: 0in 0in 0pt 0.25in;"&gt;&lt;font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2"&gt;The Company was also the manager, under a 10-year management contract expiring in 2017, of the Grand Casino Lav and Nightclub (collectively known as the &amp;#8220;Grand Casino Lav&amp;#8221;), located in Podstrana, Croatia, near the resort city of Split. This casino had been operating under difficult conditions in a depressed regional economy.&amp;#160; On January&amp;#160;1, 2012, the casino&amp;#8217;s operations were suspended by the owner, Grand Hotel Lav d.o.o., and beginning March&amp;#160;2013, the property went under bank receivership, pending settlement of all of its debt obligations and ultimately its property liquidation.&amp;#160; The management contract remains in effect, pending either the resumption of gaming operations or the termination of the contract by either party.&lt;/font&gt;&lt;/p&gt;
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 -Publisher FASB

 -Name Accounting Standards Codification

 -Topic 275

 -SubTopic 10

 -Section 50

 -Paragraph 2

 -URI http://asc.fasb.org/extlink&amp;oid=6927468&amp;loc=d3e6003-108592



Reference 2: http://www.xbrl.org/2003/role/presentationRef

 -Publisher AICPA

 -Name Statement of Position (SOP)

 -Number 94-6

 -Paragraph 10

 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



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