By INDERIA SAUNDERS, Guardian Business Reporter

The Four Seasons is refuting reports it is ditching its role as manager of the troubled Emerald Bay resort in Exuma.

"We remain committed to The Bahamas," a company spokesperson told Guardian Business yesterday. "Business continues as usual at Four Seasons Resort Great Exuma at Emerald Bay, under Four Seasons management."

In fact, company officials now argue that the world renowned brand is focused on winning a lucrative winter season for the exclusive resort — on the heels of what many describe as an exceptionally slow fall season.

The resort's reassurances follow speculation that a recent buyer of the troubled Emerald Bay resort has now withdrawn his multi-million-dollar offer for the property in receivership. The local report points to the global credit crisis as the culprit.

It also comes after news that at least two past sales deals have failed. In one instance, the prime minister refused to sign off on a deal that would have seen the resort's ownership transfer to a U.K. investment house, Ambrose Holdings.

Thursday, Four Seasons officials referred any comments on that matter to the Emerald Bay receivers, PriceWaterhouseCoopers. Its sales efforts, seemingly stalled, does raise questions about the fate of the celebrated property. It's Florida-based developer would lose control of the resort to a creditor after failing to meet loan repayment obligations several months ago.

It was just a few months back when Las Vegas-based Pinnacle told shareholders and financial analysts alike it had decided to discontinue operations at the casino attached to the Four Season resort.

Possibly another contributing factor to Pinnacle's move to jump ship is the continuing uncertainty attached to the Four Seasons itself given that lingering receivership, initiated last year.

An immediate turnaround wasn't on anyone's radar screen when Pinnacle announced it would cease managing the Family Island gaming house, the only one outside of Nassau and Freeport.

It is unclear whether the government, the resort or Pinnacle, itself is behind the move to delay its departure until the new year by another four months. There remains little indication whether another casino operator is prepared to pick up where Pinnacle will leave off.

The Four Season, like its smaller counterparts across the chain of islands, has been particularly hard-hit by the "recession" now gripping the U.S. and its drag on tourist growth. The situation has trickled down to the residents of that island.

"The native person who is building duplexes to house 600 construction workers on the Four Seasons project have certainly adopted a wait and see approach," Reginald Smith, the Exuma Chamber of Commerce president, told Guardian Business in an earlier interview.