Petroglyph Development Group to acquire Great Canadian Casino Vancouver
The company has entered into a definitive agreement with Great Canadian Entertainment to purchase the property.
Canada.- Petroglyph Development Group (PDG), a wholly owned corporation of Snuneymuxw First Nation, has entered into a definitive agreement with Great Canadian Entertainment to purchase Great Canadian Casino Vancouver in Coquitlam, British Columbia.
The deal marks the fifth major agreement for casino acquisition in British Columbia for Snuneymuxw in the past year. It follows the previous acquisitions of Casino Nanaimo and Elements Casino Victoria, and the execution of purchase agreements with respect to River Rock Casino Resort and Chances Maple Ridge.
In November, Great Canadian Entertainment entered into a definitive agreement to sell the casino at Hastings Racecourse & Casino to Tsleil-Waututh Nation (TWN). It also entered an agreement to sell Elements Casino Chilliwack to Ts’elxwéyeqw Group.
Chief Mike Wyse, Xum’silum, Snuneymuxw First Nation, said: “This latest agreement reinforces the strategy we’re executing and the proven results we’ve achieved across our gaming portfolio. 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.”
Erralyn Joseph, president of PDG, added: “We are seizing opportunities that will unlock Snuneymuxw’s economic potential and build a strong, resilient future for our Nation. Decades of big work have delivered transformative economic growth. Over the last 10 years, PDG has grown from three companies to 13, and counting. We plan to keep the pedal to the metal with a measured and strategic approach, smashing economic ceilings for the benefit of Snuneymuxw, the region, the province and the country.”
Matthew Anfinson, chief executive officer of Great Canadian Entertainment, commented: “Great Canadian Casino Vancouver has thrived because of the passion and dedication of our team members and community. 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.”
Great Canadian Casino Vancouver offers 917 slot machines, 37 table games, and 42 electronic table games. It also features The Show Theatre, a 1,050-seat venue, and a variety of dining and nightlife options. The closing of the transaction is subject to customary closing conditions and the receipt of all required regulatory and third-party approvals.
