A deal is in place for Casino Nanaimo to transition under the ownership with SFN's Petroglyph Development Group. (Jordan Davidson/NanaimoNewsNOW)

By NanaimoNewsNOW Staff

significant sale

Snuneymuxw First Nation to acquire Casino Nanaimo

Jun 24, 2024 | 12:47 PM

NANAIMO — An agreement is in place to sell Casino Nanaimo to Snuneymuxw First Nation’s economic management arm Petroglyph Development Group.

A news release from Great Canadian Entertainment (GCE), the sole owner of Casino Nanaimo since it opened in 1986, stated its board of directors unanimously approved the transaction.

The release stated a “definitive agreement” process still needs to be closed, while GCE will provide transition services to Petroglyph Development Group for up to two years post-closing.

“…we believe that under Petroglyph’s steady management, this transaction will provide Casino Nanaimo, its guests and team members with an exciting new chapter,” stated Matt Anfinson, GCE chief executive officer.

Petroglyph Development Group chief executive officer Ian Simpson commented on the pending transaction:

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“Acquiring this significant asset will unlock unprecedented economic potential for Snuneymuxw and PDG, paving the way for transformative growth in Snuneymuxw’s economy and the profits that PDG returns to our Nation.”

Casino Nanaimo has operated under the same owner in downtown Nanaimo for nearly 40 years. (Jordan Davidson/NanaimoNewsNOW)

SFN chief Mike Wyse told NanaimoNewsNOW acquiring Casino Nanaimo will bring significant economic benefits to their Nation and the local community.

He said they look forward to learning and excelling in operating a casino in partnership with GCE.

“We’re definitely not experts and we’re going to work with the experts to maintain the success that it’s having right now and to provide that gaming opportunity for the people of the region,” chief Wyse said.

He expanded on their ability to maximize the casino and the neighbouring Courtyard by Marriott hotel, of which SFN controls a majority ownership stake.

“We’ve been discussing that a lot,” Wyse said. “We could market it as a potential destination, the casino and the hotel, you’ve got Hullo the foot ferry, there’s definite opportunity there.

SFN is included in a tripartite agreement with with an investment firm and Nanaimo Port Authority to operate the Hullo fast ferry between the downtowns of Nanaimo and Vancouver.

He expected some employment opportunities for SFN members at the casino.

Wyse said the casino’s location holds a deep significance to SFN.

“That was a main village site of the Snuneymuxw people on xwsol’lexwel, a lot of our people’s history comes through that region of Snuneymuxw and that’s a really exciting piece of this story.”

Wyse said past SFN leadership had examined the possibility of acquiring Casino Nanaimo for many years.

He was not at liberty to reveal the purchase price.

Located at Port Place Shopping Centre, Casino Nanaimo includes over 400 slot machines, six live table games, electronic table games and a restaurant, according to GCE.

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