PDG closes on acquisition of Great Canadian casino properties
PDG is a wholly-owned corporation of Snuneymuxw First Nation and dedicated to realizing the economic potential of the Nation.
Key Points
- Great Canadian’s sale of Casino Nanaimo was announced on June 24, 2024, while the sale of Elements Casino Victoria was reported on September 10
- Both transactions received all regulatory approvals from authorities but sale price has yet to be reported for either property
Petroglyph Development Group (PDG) has closed on the previously announced acquisitions of two Great Canadian Entertainment casino properties, including Casino Nanaimo and Elements Casino Victoria.
PDG is a wholly-owned corporation of Snuneymuxw First Nation and is said to be dedicated to realizing the economic potential of the Nation.
“We celebrate the closing of our two casino acquisitions and our continued progress toward building a strong Snuneymuxw economy. For decades, Snuneymuxw leadership has worked tirelessly toward this moment, recognizing the connection between a strong economy, self-determination and the foundation of nationhood,” Snuneymuxw First Nation Chief Mike Wyse said.
“Today, we honour the achievements of those who came before us by securing businesses that will strengthen our Nation for generations to come. Thank you to the PDG and Great Canadian teams for your exceptional work. We look forward to a rewarding partnership with the B.C. Lottery Corporation, driving economic growth for the Nation and Province.”
The transactions, originally announced on June 24, 2024, for Casino Nanaimo and September 10 for Elements Casino Victoria, have received all required approvals from the regulatory authorities.
Good to know: Great Canadian unveiled its new 18-table poker room at Pickering Casino Resort on January 29, 2024
“We are thrilled to have completed these transactions. An incredible amount of work has been undertaken by our corporate team, our on-site teams at both properties and PDG to achieve this successful closing,” Great Canadian CEO Matt Anfinson said.
“I am grateful for their efforts, as well as everyone at the B.C. Lottery Corporation and the Gaming Policy Enforcement Branch, who were thoughtful, diligent and thorough in facilitating these closings.”
The sale price of either property has yet to be reported by regulatory officials or the companies involved in the transactions.
“Acquiring these assets marks a pivotal shift for Snuneymuxw and Vancouver Island. This transition will fuel the Island’s economy, strengthening the Snuneymuxw Nation and ensuring the benefits stay local,” PDG CEO Ian Simpson said.
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