Create or retrieve your password by clicking here

Ambassadors International to Buy Delta Queen Steamboat

April 7, 2006

Ambassadors International to Buy Delta Queen Steamboat
April 7, 2006 – Ambassadors International Inc. will purchase the Delta Queen Steamboat Company from Buffalo-based Delaware North Companies. Ambassadors will acquire Delta Queen’s three paddlewheelers and other assets for $3 million in cash and the assumption of $9 million of customer deposits and $35 million in debt.

In January the company purchased American West Steamboat Co., which operates two sternwheelers on rivers in Alaska and the Pacific Northwest.

"The combination of the Delta Queen Steamboat Company with American West Steamboat Company takes two significant regional businesses and creates a national, American cruise company," said Joe Ueberroth, president and CEO of Ambassadors International. "The operations will be combined under our Ambassadors Cruise Group subsidiary and be led by David Giersdorf. This acquisition will increase our number of vessels to five and the number of berths from 365 to approximately 1,400 berths, making us the largest operator in our category."

The Delta Queen and the Mississippi Queen are scheduled to begin cruising again starting later in April but the flagship American Queen will be kept out of service until next spring.

"Even though we are privately held, we continually look for opportunities to improve corporate value," said Chuck Moran, president and COO of Delaware North. "Our decision was driven by the need to focus on growth opportunities in our core business and because of other investment considerations."

The transaction is subject to approval by the U.S. Department of Transportation, and closing is expected by the end of April 2006. For more information, visit or

« »