LONG BEACH, Calif. (AP) A company that wants to build a hotel
and retail center near the Queen Mary said it plans to exercise an
option to buy majority interest in the ship's operating company by
the end of next month.
Bandero LLC, a Nevada-based company that last year bought 24
percent of the ship's operating company, intends to buy a 75
percent stake in the Queen's Seaport Development Inc., which leases
the historic ship from the city.
Some residents are concerned that the Queen Mary may be turned
into a casino but Joe Prevratil, president and chief executive of
Queen's Seaport Development, said the prospective new owners would
not turn the vessel into a gambling enterprise.
Bandero has discussed building a marina, a high-end hotel, an
international retail center and a time-share complex next to the
ship, Prevratil said.
``We are currently doing background checking on Bandero and have
the right to refuse consent if it is not in the best interests of
the citizens of Long Beach,'' City Attorney Robert Shannon said.
Under the terms of the lease, the city has 45 days to approve or
deny the ownership transfer. The city has not received a formal
transfer notice from the development company that is needed to
start the process.
(Copyright 2004 by The Associated Press. All Rights Reserved.)