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Summary:
- Great Canadian Entertainment has announced it sold British Columbia’s Casino Nanaimo to First Nation.
- The casino operator believes Petroglyph’s management will open “an exciting new chapter”.
- The casino hosts over 400 slot machines, six table games, and 10 electronic table games.
Canadian gaming, entertainment, and hospitality company Great Canadian Entertainment has inked a sales agreement for the Casino Nanaimo property located on Vancouver Island in British Columbia.
The operator announced it has decided to sell the property to Petroglyph Development Group Ltd., which is one of Snuneymuxw First Nation’s wholly owned corporations.
The Transaction Will Open “An Exciting New Chapter”
According to Great Canadian Entertainment’s chief executive officer, Matt Anfinson, the operator, which has supervised the casino’s inception in 1986, expects “Petroglyph’s steady management” to offer the casino, its patrons, and staff members “an exciting new chapter”.
The Snuneymuxw, which are a First Nation of the Coast Salish People, are located in the center of Coast Salish on Vancouver Island’s eastern coast, the Fraser River, the Gulf Islands, the Howe Sound, and Burrard Inlet.
The casino reunites over 400 slots, along with 10 electronic table games, and six table games, catering to the needs of a diversified clientele.
Great Canadian Entertainment counts a total of 25 properties in British Columbia, Ontario, New Brunswick, and Nova Scotia.
“Significant Benefits and Substantial Economic Growth”
Snuneymuxw Chief Mike Wyse took the opportunity to express their commitment to bringing their local expertise
to an established tradition of outstanding guest service and meaningful community contributions
Wyse added that the collaboration honors “the decades of work by past Snuneymuxw Chiefs and Councils”, promising to attract important “benefits and substantial economic growth” to the First Nation as well as the local community.
According to Petroglyph Development Group’s president, Erralyn Joseph, while the company is celebrating its entry into B.C.’s casino industry, it is also announcing the return of the associated land once the closing will be completed.
The group’s chief executive officer, Ian Simpson, explained that the acquisition of the “significant asset” is expected to “unlock unprecedented economic potential” for both parties, bringing transformative growth in the tribe’s economy and the profits that PDG will return to the First Nation.
