CHILLIWACK, B.C. – The Ts’elxwéyeqw Tribe, through an entity affiliated with Ts’elxwéyeqw Tribe Management Ltd. (the “Ts’elxwéyeqw Group”), has entered into a definitive agreement to acquire Elements Casino Chilliwack from Great Canadian Entertainment.
The Ts’elxwéyeqw Tribe constitutes seven First Nation communities and are the First People of the Chilliwack River watershed. Elements Casino Chilliwack serves guests across the Fraser Valley region of British Columbia and is Chilliwack’s top destination for gaming and entertainment, featuring over 300 slots, live and electronic table games, bingo, dining and live entertainment.
The closing of the transaction remains subject to customary closing conditions and the receipt of regulatory and other approvals. Under the terms of the definitive agreement, Great Canadian Entertainment will continue to provide transitional services and support to the Ts’elxwéyeqw Group for a period following closing.
“This purchase marks an exciting milestone for our Nations and for the entire territory,” said Chief David Jimmie, Chief of Squiala First Nation and President of Ts’elxwéyeqw Tribe Management Ltd. “By coming together in partnership, we are not only investing in a strong business opportunity, but also in the future of our people. The revenues generated through this acquisition will help strengthen our communities, create new opportunities, and ensure our Nations continue to play a leading role in the local economy. Additionally, we believe that local community-based ownership of Elements Casino Chilliwack will further strengthen the broader Fraser Valley community and economy. It’s a proud moment that reflects how Indigenous leadership and collaboration can build a stronger, more inclusive future for everyone.”
“We are very excited to have entered into this agreement with the Ts’elxwéyeqw Group,” said Matt Anfinson, CEO, Great Canadian Entertainment. “We have had the privilege of being part of the Chilliwack community since we opened Elements Casino Chilliwack in 2012, and we believe that under the Ts’elxwéyeqw Group’s stewardship, the business will begin an exciting new chapter. For the team members and guests of Elements Casino Chilliwack, and the local community, we can think of no better owner for the business. We look forward to the closing and then working with the Ts’elxwéyeqw Group team during the transition period.”
McCarthy Tétrault LLP is acting as legal advisor and KPMG Corporate Finance Inc. is acting as financial advisor to the Ts’elxwéyeqw Group. McMillan LLP is acting as legal advisor to Great Canadian Entertainment.
