10QSB/A

                          SECURITIES AND EXCHANGE COMMISSION
                               WASHINGTON, D.C.  20549

                                     FORM 10-QSB/A


      [X]    QUARTERLY  REPORT UNDER SECTION 13 OR 15(D) OF
             THE SECURITIES EXCHANGE ACT OF 1934

                    FOR THE QUARTERLY PERIOD ENDED MARCH 31, 1996

      [ ]    TRANSITION REPORT UNDER SECTION 13 OR 15(D)OF
             THE SECURITIES EXCHANGE ACT OF 1934

                 FOR THE TRANSITION PERIOD FROM           TO
                                                 ---------   ---------
                              COMMISSION FILE NUMBER 0-25244



                                 TRANS WORLD GAMING CORP.
                (Exact name of registrant as specified in its charter)

               NEVADA                                 13-3738518
      (State or other jurisdiction of                (I.R.S. Employer
      incorporation or organization)                 Identification No.)

                       ONE PENN PLAZA, NEW YORK, NEW YORK  10119
                 (Address of principal executive offices)  (Zip code)

             
             
                                    (212) 563-3355
 
                (Issuer's telephone number including area code)



Check whether the Registrant (1) has filed all reports required to be filed by
Section 13 or 15(d) of the Securities Exchange Act of 1934 during the past 12
months (or for such shorter period that the Registrant was required to file such
reports) and (2) has been subject to such filing requirements for the past 90
days. YES  X    NO    .
          ---      ---

Shares of the Registrant's Common Stock , par value $.001, outstanding as of
November 10, 1995:  2,544,286
                    ---------




                               TRANS WORLD GAMING CORP.

                                     FORM 10-QSB


                                        INDEX


                            PART I - FINANCIAL INFORMATION



ITEM 1.   CONDENSED CONSOLIDATED FINANCIAL STATEMENTS                     PAGE

          CONDENSED CONSOLIDATED BALANCE SHEET (UNAUDITED) AS OF
          MARCH 31, 1996.                                                  3

          CONDENSED CONSOLIDATED STATEMENT OF EARNINGS (UNAUDITED)         4
          FOR THE THREE MONTHS ENDED MARCH 31, 1996 AND 1995

          CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED)       5
          FOR THE THREE MONTHS ENDED MARCH 31, 1996 AND 1995

          NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS             6

ITEM 2    MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
          CONDITION OR PLAN OF OPERATIONS                                7 TO 9

ITEM 3    EXHIBITS

          C.P. BAKER & CO. BRIDGE LOAN DOCUMENTS

          FINANCIAL DATA SCHEDULE


                             PART II - OTHER INFORMATION


          SIGNATURE                                                        10


                                          2



SIGNATURE:

                               TRANS WORLD GAMING CORP.



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.



                                       /s/  Dominick J. Valenzano


May 10, 1995                           ------------------------------
                                       Dominick J. Valenzano
                                       Chief Financial Officer & Treasurer

EX-27

 


<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED BALANCE SHEETS AND CONSOLIDATED STATEMENT OF EARNINGS FOUND ON PAGE
3 AND 4 OF THE COMPANY'S FORM 10 QSB/A FOR THE YEAR TO DATE AND IS QUALIFIED IN
ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.

<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               MAR-31-1996
<CASH>                                             272
<SECURITIES>                                         0
<RECEIVABLES>                                      242
<ALLOWANCES>                                         0
<INVENTORY>                                         89
<CURRENT-ASSETS>                                   759
<PP&E>                                           1,562
<DEPRECIATION>                                     173
<TOTAL-ASSETS>                                  13,504
<CURRENT-LIABILITIES>                            4,373
<BONDS>                                          1,178
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                             3
<OTHER-SE>                                       7,950
<TOTAL-LIABILITY-AND-EQUITY>                    13,504
<SALES>                                            671
<TOTAL-REVENUES>                                 1,667
<CGS>                                              603
<TOTAL-COSTS>                                      834
<OTHER-EXPENSES>                                   823
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                 157
<INCOME-PRETAX>                                  (147)
<INCOME-TAX>                                        22
<INCOME-CONTINUING>                              (169)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     (169)
<EPS-PRIMARY>                                  (0.066)
<EPS-DILUTED>                                  (0.066)