SNUNEYMUXW (NANAIMO), B.C. – Petroglyph Development Group (PDG), a wholly owned corporation of Snuneymuxw First Nation (Snuneymuxw), and Great Canadian Entertainment have entered into a definitive agreement for PDG to purchase Great Canadian Casino Vancouver, the entertainment venue in Coquitlam, B.C.
“This latest agreement reinforces the strategy we’re executing and the proven results we’ve achieved across our gaming portfolio,” said Chief Mike Wyse, Xum’silum, 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.”
This marks the fifth major agreement for casino acquisition in British Columbia for Snuneymuxw in the past 12 months, accelerating PDG’s momentum in building one of the most dynamic gaming portfolios in Canada. Following 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, PDG is positioned to become one of the largest casino operators in B.C. and Canada’s largest Indigenous-owned gaming operator by revenue.
“We are seizing opportunities that will unlock Snuneymuxw’s economic potential and build a strong, resilient future for our Nation,” said Erralyn Joseph, President of Petroglyph Development Group. “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.”
“This milestone contributes to the momentum of our dynamic gaming portfolio and our commitment to local sustainable economic development,” said Ian Simpson, Yaatqumtun, CEO of PDG. “Great Canadian Casino Vancouver has long been an important contributor to the Coquitlam economy, and we’re committed to ensuring those benefits continue. As we expand Snuneymuxw’s economic development footprint, we remain focused on creating lasting value for our Nation, for the communities where we operate and for the region as a whole.”
Great Canadian Casino Vancouver is a landmark property offering 917 slot machines, a diverse array of 37 table games and 42 electronic table games. The destination offers Gordon Ramsay Burger, thefirst of the celebrity chef’s restaurants in Canada, The Show Theatre, a 1,050-seat venue showcasing top acts in music and comedy, and a variety of dining and nightlife options.
“Great Canadian Casino Vancouver has thrived because of the passion and dedication of our team members and community,” said Matthew Anfinson, CEO 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.”
The closing of the transaction is subject to customary closing conditions and the receipt of all required regulatory and third-party approvals, including required approvals under the Competition Act.
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.