Great Canadian to sell Casino Nanaimo property to Petroglyph

Great Canadian Entertainment announced that it has signed a definitive agreement to sell its landmark Vancouver Island property, Casino Nanaimo, to Petroglyph Development (Petroglyph) in a historic transaction for both parties. 

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, the company will provide transition services to Petroglyph for up to two years after closing.

Petroglyph is a wholly owned corporation of the Snuneymuxw First Nation dedicated to realizing the economic potential of the Nation.

“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,” Great Canadian Entertainment CEO Matt Anfinson said. 

“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.”

Petroglyph President Erralyn Joseph also expressed excitement for the purchase, having said, “The Snuneymuxw group of companies are profoundly honored to support Snuneymuxw economic growth in significant and meaningful ways. 

“In addition to our pending acquisition of the business, we are honored 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.”

The Snuneymuxw are a First Nation of the Coast Salish People, located in the center of Coast Salish territory on the eastern coast of Vancouver Island, the Gulf Islands, the Fraser River, Burrard Inlet and the Howe Sound.

Kirk Geller

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