10QSB/A

                          SECURITIES AND EXCHANGE COMMISSION
                                WASHINGTON, DC  20549

                                     FORM 10-QSB


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

                       FOR THE QUARTER ENDED SEPTEMBER 30, 1996

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

         FOR THE TRANSITION PERIOD FROM _____________ TO ____________

                               TRANS WORLD GAMING CORP.
                (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)


               NEVADA                                   13-3738518
    (State of other jurisdiction of                   (IRS 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
June 30, 1996:  2,544,286.
                ---------



                               TRANS WORLD GAMING CORP.

                                     FORM 10-QSB

                                        INDEX

                            PART 1 - FINANCIAL INFORMATION


                                                                          PAGE

ITEM 1.CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

      CONDENSED CONSOLIDATED BALANCE SHEET AS OF SEPTEMBER 30, 1996        3
      (UNAUDITED) AND DECEMBER 31, 1995

      CONDENSED CONSOLIDATED STATEMENT OF EARNINGS (UNAUDITED) FOR         4
      THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 1996 AND 1995

      CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED) FOR       5
      THE NINE MONTHS ENDED SEPTEMBER 30, 1996 AND 1995

      NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS                 6


ITEM 2.MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL                7 to 10
      CONDITION OR PLAN OF OPERATIONS



                             PART II - OTHER INFORMATION


ITEM 5.OTHER INFORMATION                                                  11

ITEM 6. EXHIBITS                                                          11


                                          2




                               TRANS WORLD GAMING CORP.


Pursuant to the requirements of the Securities and 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
                                       ----------------------------------------
                                       Dominick J. Valenzano
                                       Chief Financial Officer & Treasurer


November 12, 1996

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 10-QSB for the year to date, and is qualified in its
entirety by reference to such financial statements.

<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               SEP-30-1996
<CASH>                                             965
<SECURITIES>                                         0
<RECEIVABLES>                                      417
<ALLOWANCES>                                         0
<INVENTORY>                                         77
<CURRENT-ASSETS>                                    66
<PP&E>                                           1,566
<DEPRECIATION>                                     237
<TOTAL-ASSETS>                                  15,533
<CURRENT-LIABILITIES>                              872
<BONDS>                                          5,977
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                             3
<OTHER-SE>                                       8,681
<TOTAL-LIABILITY-AND-EQUITY>                    15,533
<SALES>                                          2,049
<TOTAL-REVENUES>                                 4,963
<CGS>                                            1,784
<TOTAL-COSTS>                                    2,556
<OTHER-EXPENSES>                                 2,357
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                 926
<INCOME-PRETAX>                                  (876)
<INCOME-TAX>                                        64
<INCOME-CONTINUING>                              (940)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     (940)
<EPS-PRIMARY>                                   (0.37)
<EPS-DILUTED>                                   (0.37)