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City collects on bankrupt 'Ocean Jewel' casino ship

By AARON SHAROCKMAN
Published January 3, 2007

The city has received more than $152,000 in promised revenue from a bankrupt casino ship that went bust after less than a year at the city's port, city officials said Tuesday.

The payment amounts to almost all of the $161,000 the city says it was owed by the Ocean Jewel and owner Titan Cruise Lines and ends the city's relationship to the gambling vessel, officials said.

The money is likely one of the bigger paydays associated with the fledgling ship, which was plagued by mishaps before ceasing operations in October 2005.

"For the city, it's over," said Assistant City Attorney Mark Winn.

The money offsets unpaid dock rents for the 450-foot-long vessel at the Port of St. Petersburg, Winn said. Titan had agreed to pay the city $9,000 a month in docking fees through 2008.

But the ship left St. Petersburg for good after less than 10 months.

The agreement to pay the difference was negotiated in bankruptcy court, where the owners of the Ocean Jewel continue to try to climb out of more than $30-million in debt.

After opening to great fanfare in October 2004, the Ocean Jewel quickly became a black eye for a city trying to remake its tired port.

Among its problems:

-A tram that takes passengers from the parking lot to the port caught fire.

-The Coast Guard uncovered several safety violations on the casino ship.

-On at least two occasions, ferries making the trip between the offshore ship and the port struck area bridges.

-Gamblers were at times stranded overnight on the ship miles offshore, either because the ferryboats weren't working or because of poor weather.

Mayor Rick Baker said city officials were ready to put the fate of the Ocean Jewel behind them.

"You tried it. It didn't work," Baker said. "We moved on."

[Last modified January 2, 2007, 21:12:37]