Long Botham Boats Company has won the much-coveted contract.

And the reason for the six month delay in announcing the new concessionaire was because Long Botham Boats Company's ownership was called into question.

The Hon. Mr. Leonard Gibbons, Minister of Works and Engineering, would not reveal who had provoked the investigation into whether Long Botham -- which is traded on the Bermuda Stock Exchange -- was a bona fide Bermudian company.

However, research, involving the Attorney General's office and the Ministry of Finance, revealed the company is Bermudian-owned.

Long Botham Boats Company, whose primary asset is the Henry VIII pub and restaurant, made the highest bid for the right to run the concession. There were five bidders in total.

"It was a purely monetary decision,'' said Mr. Gibbons. Mr. Andy Allan, president of Long Botham Boats Company, said his company has been given a letter of authority, and contracts would be signed in the next few weeks.

The tourist snack bar and gift store at Horseshoe Bay is due to open on April 1.

"It is a short time to do anything really major in terms of a redesign,'' said Mr. Allan. "It is a question of getting it up and running. Innovations will take place throughout the year.'' He declined to comment about the delay in announcing the winner. Outgoing concessionaire Mr. Raymond White declined to comment about the Ministry's decision, short of saying the news was not a shock.