Czech – Trans World reports ‘landmark’ yearBy Phil - 9 March 2017
Trans World Corporation, the owner of three American Chance branded casinos in the Czech Republic, said 2016 was a ‘landmark’ year when it ‘generated significantly better net income and earnings per share than in 2015, as a result of stronger performance at all of its operating units.’
The US-based company operates Ceska Kubice, on the Czech‐German border, Route 59, on the Czech‐Austrian border and Route 55 in Dolni Dvoriste.
Rami Ramadan, Chief Executive Officer, commented, “2016 was a landmark year for the Company. We established records in both EPS of $0.67, and revenues of $53.2m. This was an improvement on the successful results achieved in 2015, whereby EPS of $0.42 increased by 45 per cent and revenues of $42.4m, increased by 10.2 per cent as compared with 2014. The increase in revenues in 2016 was the result of on-going improvements in our operations, entertainment, and amenities, as well as continued commitment to providing our patrons with the highest level of customer service. We believe that the expansion of our Hotel Segment is complementary to our Casino Segment, and that it will provide long-term benefits to our shareholders. With respect to the Hotel Segment, on March 1, 2017, TWC acquired a 176-room, four-star business hotel located on the banks of the Danube River in Linz.”
In addition, the company acquired Hotel Kranichhöhe in Much, Germany, on December 21, 2016. The three German hotels form the company’s Hotel Segment, while the three Czech casinos and Hotel Savannah form its Casino Segment.
Mr. Ramadan added: “TWC remains well-positioned for further expansion and growth. We continually strive to improve our existing casino and hotel properties in response to the needs of our growing clientele, while simultaneously searching for acquisition opportunities in both the gaming and hospitality industries. This approach will strengthen the company’s foundation and our position in the markets we serve.”