Petroglyph Development Group acquires two casinos from Great Canadian
The companies have completed the Casino Nanaimo and Elements Casino Victoria transactions.
Canada.- Petroglyph Development Group (PDG) has closed the previously announced acquisitions of Casino Nanaimo and Elements Casino Victoria from Great Canadian Entertainment. The transactions have received all required approvals from the regulatory authorities.
The transaction was previously announced in June 2024 for Casino Nanaimo and in September 2024 for Elements Casino Victoria. PDG is a wholly owned corporation of Snuneymuxw First Nation and is dedicated to realising the economic potential of the Nation.
Matt Anfinson, chief executive officer of Great Canadian, said: “We are thrilled to have completed these transactions. An incredible amount of work has been undertaken by our corporate team, our on-site teams at both properties, and PDG to achieve this successful closing.
“I am grateful for their efforts, as well as everyone at the B.C. Lottery Corporation and the Gaming Policy Enforcement Branch, who were thoughtful, diligent and thorough in facilitating these closings. We look forward to working closely with PDG during the transition period to support the continued successful operation of Casino Nanaimo and Elements Casino Victoria.”
Snuneymuxw chief Mike Wyse added: “We celebrate the closing of our two casino acquisitions and our continued progress toward building a strong Snuneymuxw economy. For decades, Snuneymuxw leadership has worked tirelessly toward this moment, recognising the connection between a strong economy, self-determination and the foundation of nationhood.
“Today, we honour the achievements of those who came before us by securing businesses that will strengthen our Nation for generations to come. Thank you to the PDG and Great Canadian teams for your exceptional work. We look forward to a rewarding partnership with the B.C. Lottery Corporation, driving economic growth for the Nation and Province.”
Erralyn Joseph, president of PDG, added: “This measured acquisition marks an important milestone for PDG as we continue growing a corporate enterprise that reinvests directly into the prosperity of our Nation. With a strong operating plan focused on risk mitigation and yielding sizable returns, PDG continues to generate sustainable wealth for Snuneymuxw.
“With every step we are realising our socio-economic potential and influence at a local, national and global level. On behalf of the Board of Directors, we are pleased to share this news and remain committed to advancing economic growth in support of all residents connected to Snuneymuxw territory.”
Ian Simpson, chief executive officer of PDG, said: “Acquiring these assets marks a pivotal shift for Snuneymuxw and Vancouver Island. This transition will fuel the Island’s economy, strengthening the Snuneymuxw Nation and ensuring the benefits stay local.”
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