Great Canadian Entertainment enters agreement to sell Hastings Casino
The company has entered into a definitive agreement with Tsleil-Waututh Nation (TWN).
Canada.- Great Canadian Entertainment has entered into a definitive agreement to sell the casino at Hastings Racecourse & Casino to Tsleil-Waututh Nation (TWN). The deal follows a non-binding Memorandum of Understanding announced in June.
The closing of the transaction remains subject to customary closing conditions and approvals. The company will provide transitional services and support to TWN for a period following closing. Located in Vancouver, British Columbia, Hastings Casino features more than 400 slot machines.
Justin George, chief of Tsleil-Waututh Nation, said: “We are excited about this next step towards economic self-determination for our Nation in our traditional territory, which will bring benefits to our community and the next seven generations. I am grateful to our current and previous səlilwətaɬ leadership, as well as our chief administrative officer (CAO), chief financial officer (CFO), and Economic Development Department, for advancing and solidifying this opportunity.”
Matt Anfinson, CEO of Great Canadian Entertainment, added: “We are proud to announce an agreement for the sale of this landmark casino business to TWN. It has been an honour to steward the casino at Hastings Racecourse & Casino for over 20 years, and we recognize the important role this transaction plays in TWN’s economic self-determination. We will now dedicate our efforts to a successful close of this transaction, as well as supporting the Tsleil-Waututh Nation thereafter.”
Great Canadian Entertainment also entered into a definitive agreement to sell Elements Casino Chilliwack to Ts’elxwéyeqw Group.
