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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
December 17, 1998
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(Date of earliest event reported)
Trans World Gaming Corp.
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(Exact name of registrant as specified in its charter)
Nevada 0-25244 13-3738518
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(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
One Penn Plaza, Suite 1503, New York, New York 10119-0002
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(Address of principal executive offices) (Zip Code)
(212) 563-3355
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(Registrant's telephone number, including area code)
Not Applicable
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(Former name, former address and former fiscal year, if changed since last
report)
Page 1 of 4
Exhibit Index appears on Page 3
1
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ITEM 6. Resignation of Registrant's Directors
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On December 17, 1998, at a regular meeting of the Board of Directors,
Dominick J. Valenzano, the Chief Financial Officer of the Company, resigned
from the Board. Mr. Valenzano's resignation was based on personal reasons
and did not involve a disagreement with the Registrant on any matters
relating to the Registrant's operations, policies or practices. The Board
elected Mr.Geoffrey B. Baker to fill the vacancy resulting from Mr. Valenzano's
resignation. Mr. Baker has been a principal of Baker & Donaldson, Washington,
D.C., a private investment firm since 1983. Prior thereto, he was the
Legislative Director for Senator Lowell Weicher, Jr. (R-Conn).
ITEM 5. Other Events
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On October 12, 1998, the Registrant issued a press release describing the
election of its Chairman of the Board, Mr. Stanley Kohlenberg, to the position
of Chief Executive Officer and the election of its current President and Chief
Executive Officer, Mr. Andrew Tottenham, to the offices of President and Chief
Operating Officer (See Exhibit 99).
ITEM 7. Exhibits
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Exhibit Number Description
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99 Press release dated October 12, 1998
2
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
TRANS WORLD GAMING CORP.
Date December 21, 1998 By: /s/ Dominick J. Valenzano
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Dominick J. Valenzano
Chief Financial Officer
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EXHIBIT 99
Press Release dated October 12, 1998
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Company Contact: Dominick J. Valenzano
Chief Financial Officer
212-563-3355
From: TRANS WORLD GAMING CORP.
One Penn Plaza
Suite 1503
New York, NY 10119
TRANS WORLD GAMING CORP.
ANNOUNCES OFFICER APPOINTMENTS
New York, New York, October 12, 1998: Trans World Gaming Corp. ("TWG" or
the "Company") (OTC BB: "IBET" and "IBETW") today announced that due to the
rapid growth and related complexity of the Company's European gaming business,
the Board of Directors has elected its Chairman of the Board, Mr. Stanley
Kohlenberg, to the position of the Chief Executive Officer and its current
President and Chief Executive Officer, Mr. Andrew Tottenham, to the office of
President and Chief Operating Officer.
Mr. Kohlenberg, currently a consultant to, and Chairman of the Board of,
the Company has been a director of TWG since September 1994. He served as TWG's
President and Chief Executive Officer from March 1996 through December 1996.
Prior thereto, Mr. Kohlenberg has held various senior level positions in
publicly traded companies, including President of Sanofi Beauty, Chief Executive
Officer of Alfin, Inc., President of Calvin Klein Cosmetics and Vice President
of Revlon, Inc.
Mr. Tottenham will direct his focus to the Company's newly acquired
European operations. He had been the Company's President and Chief Executive
Officer since January 1997 and a director of TWG since May 1996. Mr. Tottenham
has been President of Tottenham & Co., an international gaming consulting
company (a subsidiary of TWG), since 1988.
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PAGE 2
Trans World Gaming Corp. owns and operates, through its subsidiaries, two
casinos featuring video poker in Louisiana, MATS (a casino software company in
Colorado) and two recently acquired casinos in the Czech Republic and a recently
acquired casino in Zaragoza, Spain. Its wholly-owned subsidiary, Tottenham &
Company, is an international gaming consultancy, serving clients in North and
South America, Europe and the Far East. With offices in New York and London,
the Company plans to specialize in small to medium casinos in local venues
worldwide.
"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF
1995: THE STATEMENTS CONTAINED IN THIS RELEASE WHICH ARE NOT HISTORICAL FACTS
CONTAIN FORWARD LOOKING INFORMATION WITH RESPECT TO PLANS, PROJECTIONS OR FUTURE
PERFORMANCE OF THE COMPANY, THE OCCURRENCE OF WHICH INVOLVE CERTAIN RISKS AND
UNCERTAINITIES DETAILED IN THE COMPANY'S FILINGS WITH THE SECURITIES AND
EXCHANGE COMMISSION.
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