EXHIBIT 99.1 Resignation Letter of Stanley Kohlenberg Two Beekman Place New York, New York 10022 February 8, 2000 To The Board Of Directors Trans World Gaming Corp. Gentlemen: With much regret, I hereby tender my resignation as Chairman of the Board of Trans World Gaming Corp., effective immediately. Given the current circumstances, I find that I cannot fulfill my obligation to the shareholders of Trans World Gaming to the best of my ability. However, as a major shareholder, I wish you the best of success in all your future endeavors. Respectfully, /s/ Stanley Kohlenberg ---------------------- Stanley Kohlenberg cc: J. Koeppel, Elias, Matz