California Firm to Buy Gambling Vessel

January 13, 2006

Yamashiro Financial Services won federal bankruptcy court approval Wednesday to buy the gambling vessel Ocean Jewel from Titan Cruise Lines for $7.25 million. The Pasadena, Calif.-based company will refurbish the ship and re-launch it this year, although its final destination is still to be determined. First American Bank of Illinois, one of Titan's creditors, had rejected a previous $5 million offer by Yamashiro on Monday, saying it was too low. Titan filed for bankruptcy in August. Source: TB Business Journal

California Firm to Buy Gambling Vessel

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