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Date Set for Grand Opening of Krygyz Casino

NEW YORK -— Trans World Gaming Corp. (TWG) (OTC Bulletin Board: IBET, IBETW) has announced that the grand opening of the Bishkek Casino, located in Krygyz Republic (a former member of the Soviet Union), took place on April 18, 1998.

The company signed a twenty-year management agreement with Jockey Club Casinos, LLC for the management and operation of the casino. Terms were not disclosed.

"The first few days of activity in the casino were quite encouraging," said Trans World President and CEO Andrew Tottenham. "The gentlemen who control Jockey Club Casinos are experienced casino professionals. With the management expertise of Trans World, I believe that the Bishkek casino will be a first-class operation."

TWG also announced that it has 90% of the shares of the Casino de Zaragoza, a company incorporated in Zaragoza, Spain, which owns an exclusive casino license in the Region of Aragon (CDZ). CDZ is currently involved in a reorganization proceeding in the courts of Zaragoza. Immediately subsequent to the acquisition, the court approved a plan of recapitalization pursuant to which the tax debt of CDZ, totaling approximately U.S. $5 million, was restructured to be paid by CDZ over the next eight years.

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. 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.

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