Titan Sells Ocean Jewel to Yamashiro Financial

Yamashiro Financial Services received U.S. federal bankruptcy court approval to buy the gambling vessel Ocean Jewel from Titan Cruise Lines for $7.25 million. The eight-deck Ocean Jewel had been in service as a casino ship off the coast of St. Petersburg, FL, before Titan ran into financial difficulties; that line filed for bankruptcy protection last August. The new owner, based in Pasadena, CA, says it will refurbish the ship and re-launch it this year. There was no word on where the ship might be based, but it likely will continue to be used as a casino operation.

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