European casino operator Trans World Corporation has released financial results for the last three months of 2016 showing that the improvement in business volume led to a 14.2% increase in total year-on-year revenue to $ 14.4 million.
New York-based Trans World Corporation operates three American Casino Opportunity branded casinos in the Czech Republic and explains that fourth quarter earnings before interest, taxes, depreciation and amortization increased by 25% year-on-year to $ 3 million while net income swelled by 33 % to hit $ 2,400,000.
During the twelve months to the end of December, the issuing company, which runs its American Opportunity Casino places in the border communities http://188.8.131.52/ of the Czech Republic of Kubice, Dolni Dvoriste and Znojmo, reported a 25.7% year-on-year increase in total revenue to $ 53.2 million while Earnings before interest, taxes, depreciation and amortization increased 56.1% to $ 11.4 million.
All of this saw the company’s report annual net profit of $ 6.3 million representing a 65.7% year-on-year advance, while the value of its assets including the Kranichhohe Hotel recently acquired in Much, Germany, expanded by 19.7% to totaled $ 66.1 million.
“The increase in revenue in 2016 is a result of ongoing improvements to our operations, entertainment and facilities as well as a commitment to continuing to provide our customers with the highest level of customer service,” said Rami Ramadan, Chief Executive Officer for Trans World Companies. “2016 was an important year for the company. Trans World Corporation remains well positioned for further expansion and growth. We are constantly working to improve our existing casino and hotel properties in response to the evolving needs of our clients while seeking acquisition opportunities in both the gaming and hospitality industries. This approach will strengthen our company foundation and our position in the markets we serve. “