Hong Kong-listed property developer Far East Consortium International Ltd. (FEC) is now looking beyond China’s horizons in search for new revenue streams.

In a disclosure before the Hong Kong Stock Exchange, FEC announced that the company has entered an agreement with Nevada-incorporated firm Trans World Corp. (TWC) for a possible acquisition or merger.

TWC owns five hotels in Germany, Austria, and the Czech Republic, and three full-services casinos in the Czech Republic under the registered brand American Chance Casinos. The Czech casinos feature gaming tables and slot machines that FEC hopes will bring strong recurring cash flow.

Chris Hoong, managing director of FEC, said the company’s interest in acquiring or merging with TWC was piqued by the recent regulatory changes in Czech Republic, which would “provide the group with further development opportunities.”