Snuneymuxw Tribe Acquires Fifth British Columbia Casino in 12 Months

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A Snuneymuxw First Nation subsidiary has acquired a fifth property in 12 months in British Columbia, having agreed to terms for Great Canadian Entertainment’s casino in Coquitlam.

Petroglyph Development Group’s (PDG) acquisition comes after the previously announced acquisitions of Casino Nanaimo and Elements Casino Victoria, as well as the execution of purchase agreements with respect to River Rock Casino Resort and Chances Maple Ridge.

Great Canadian Casino Vancouver offers over 900 slot machines and almost 100 table games and electronic table games. The destination also features a Gordon Ramsay Burger, the first of the celebrity chef’s restaurants in Canada, as well as the 1,050-seat The Show Theatre.

“This latest agreement reinforces the strategy we’re executing and the proven results we’ve achieved across our gaming portfolio,” said Chief Mike Wyse of Snuneymuxw First Nation.

“The confidence placed in us by Great Canadian Entertainment and the industry is grounded in our disciplined approach to sustainable growth. The proposed acquisition of Great Canadian Casino Vancouver marks another step toward economic self-determination for Snuneymuxw, strengthening our long-term prosperity, financial independence, and restoring an economy that thrived for thousands of years.”

PDG Expanding in British Columbia

With the fifth deal confirmed, PDG is positioned to become one of the largest casino operators in British Columbia and Canada’s largest Indigenous-owned gaming operator by revenue.

The closing of the transaction is subject to customary closing conditions and the receipt of all required regulatory and third-party approvals, including approvals under the Competition Act.

“Great Canadian Casino Vancouver has thrived because of the passion and dedication of our team members and community,” said Matthew Anfinson, chief executive of Great Canadian Entertainment. “We are pleased to pass this legacy into the hands of Snuneymuxw First Nation and the vision they hold for the business’s future. We have every confidence that PDG and Snuneymuxw will continue to elevate this and their other properties for years to come.”

McCarthy Tétrault LLP is acting as legal counsel and KPMG Corporate Finance Inc. is acting as financial advisor to PDG. McMillan LLP is acting as legal counsel to Great Canadian Entertainment.