(L-R) President of the Great Canadian Entertainment Terrance Doyle and Snuneymuxw First Nation Chief Mike Wyse and SFN councillors Emmy Manson and Wanda Good signed and agreed to transfer Elements Casino Victoria's control to the First Nation. (Jordan Davidson/NanaimoNewsNOW)

By Jordan Davidson

economic opportunity

Snuneymuxw First Nation to take control of second casino

Sep 10, 2024 | 2:40 PM

NANAIMO — Snuneymuxw First Nation (SFN) has an agreement in place to own and operate another Island casino.

During an announcement on Tuesday, Sept. 10, representatives from SFN’s economic management arm Petroglyph Development Group (PDG) signed a purchase agreement with Great Canadian Entertainment (GCE) to assume control of Elements Casino Victoria.

SFN Chief Mike Wyse said they’re very happy and excited about this new deal, which will help SFN expand their economic opportunities and capabilities.

“This is going to give us a lot of opportunity to provide that much-needed service for our people and our membership that maybe struggled over the years, but we’re going to have that opportunity to help them now, in a more, better way to help them get through life a lot easier.”

This is the second casino this year which will soon be under SFN ownership.

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It was announced in June that SFN will take over operations of the Casino Nanaimo, another agreement between the PDG and GCE.

Wyse said while they don’t know exactly how much revenue will be generated by these two casinos, they know its impact on SFN members will be immense.

“We’ve always relied on government funding to get us through, so now we’re going to be able to look at opportunities here that support us even better, and sooner. A lot of the time over the years we’ve had to say, ‘No, we don’t have the budget,’ and now we do. Now we will. We’re very happy that’s going to happen.”

An exact purchase price was not disclosed.

The deal was unanimously approved by the GCE board of directors, while several regulatory steps still need to be completed before the transfer of ownership to SFN is finalized.

Elements Casino Victoria features over 750 slot machines and 23 live table games, according to GCE.

Wyse also announced SFN received approval from BC Housing for two new on-reserve affordable rental buildings with 59 units in Cedar on Warpath Rd. to be completed by 2026.

The $47 million project will be paid for through a BC Housing grant, according to Wyse.

SFN Chief Mike Wyse following the announcement of the new deal which will see the First Nation take over operations of a second Island casino. (Jordan Davidson/NanaimoNewsNOW)

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jordan@nanaimonewsnow.com

On Twitter: @JordanDHeyNOW