photo credit: greatcanadian.com
NANAIMO – Petroglyph Development Group Ltd., a wholly owned corporation of Snuneymuxw First Nation, has purchased the downtown Casino Nanaimo from gaming and hospitality company Great Canadian Entertainment.
Great Canadian’s Board of Directors unanimously approved the transaction, which remains subject to customary closing conditions as well as customary approvals by the regulatory authorities. Under the terms of the definitive agreement, they will provide transition services to Petroglyph for up to two years post-closing.
“We are very pleased to have executed this agreement. As the operator of Casino Nanaimo since its inception in 1986, we believe that under Petroglyph’s steady management, this transaction will provide Casino Nanaimo, its guests and team members with an exciting new chapter,” says Matt Anfinson, Chief Executive Officer of Great Canadian. “We look forward to the closing and then working with the Petroglyph team during the transition period to ensure an outstanding outcome for all parties.”
Snuneymuxw Chief Mike Wyse states: “We celebrate our partnership with Great Canadian and our entry into B.C.’s casino industry. We are committed to bringing Snuneymuxw’s local expertise to an established tradition of outstanding guest service and meaningful community contributions. This collaboration promises to bring significant benefits and substantial economic growth to our Nation and the local community.”
Erralyn Joseph, President of Petroglyph, adds “The Snuneymuxw group of companies are profoundly honoured to support Snuneymuxw economic growth in significant and meaningful ways. In addition to our pending acquisition of the business, we are honoured to announce the return of the associated land once closing is completed, a part of the Snuneymuxw xwsol’lexwel village. On behalf of the Board of Directors, we are pleased to share this news and remain committed to advancing the region’s economic growth in support of all its residents.”
Founded in 1982, Great Canadian Entertainment operates gaming, entertainment, hospitality and resort facilities in B.C., Ontario New Brunswick, and Nova Scotia, and supports over 1,400 charitable and non-profit organizations across Canada.
Business Examiner Staff
