Trans World Corporation and Subsidiaries (collectively, “TWC” or the “Company”), a Nevada corporation, is primarily engaged in the gambling business in the Czech Republic (“CZ” or “Czechia”) and in the hospitality business in Germany (“DE”).
TWC owns and operates three full-service casinos and four hotels. The Company’s operating units are organized under two reportable segments: a casino segment and a hotel segment. The three casinos operate under its registered brand, American Chance Casinos (“ACC”). One casino is located in the western part of the CZ, close to the German border, in Ceska Kubice (“Ceska”), which currently has 14 gaming tables and 102 slot machines. The other two casinos are located in the southern part of the CZ, close to the Austrian border. The larger of these two, “Route 55,” located in Dolni Dvoriste, has 21 gaming tables and 150 slot machines. The other casino, “Route 59,” is located in Hate, near Znojmo, and currently has 25 gaming tables and 190 slot machines. In addition to the Czech casinos, TWC also owns and operates a 77 -room, European four-star deluxe hotel, the Hotel Savannah, which is physically connected to our Route 59 casino, and also a full-service spa, the Spa at Savannah (the “Spa”), which is operated by an independent contractor and is attached to the hotel. The three casinos and the Hotel Savannah comprised the Company’s casino segment.
The Hotel Columbus is a 117-room, four-star hotel, located in Seligenstadt, Germany, near Frankfurt. The Hotel Freizeit Auefeld, is a 93-room, four-star hotel, located in Hann. Münden, Germany, about a two-hour drive north of Frankfurt. Although the Company acquired the hotel on June 16, 2015, the signing parties agreed to set the acquisition date retroactive to June 1, 2015, which had no impact on the purchase price. The Company also acquired Hotel Kranichhöhe, a 107-room three-star hotel, located in Much, Germany, near Cologne, Germany. It is about a two-hour drive south-east to the Hotel Columbus and a three-hour drive east to Hotel Freizeit Auefeld. Although the Company acquired the hotel on December 21, 2016, the signing parties agreed to set the date of acquisition retroactive to December 1, 2016, which had no impact on the purchase price. The three German hotels comprised the Company’s hotel segment.