01/16/2025
📢 Great Canadian Entertainment and Petroglyph Development Group Announce Closing of the Acquisition of Casino Nanaimo and Elements Casino Victoria
Great Canadian Entertainment (“Great Canadian” or the “Company”) Great Canadian Gaming, Canada’s leading gaming and hospitality company, and Petroglyph Development Group Ltd. (“PDG”) Petroglyph Development Group today announced that PDG has closed the previously announced acquisitions of Casino Nanaimo and Elements Casino Victoria from Great Canadian, in historic transactions for both parties. PDG is a wholly owned corporation of Snuneymuxw First Nation (the “Nation”) and is dedicated to realizing the economic potential of the Nation.
The transactions, originally announced on June 24, 2024, for Casino Nanaimo and September 10, 2024, for Elements Casino Victoria, have received all required approvals from the regulatory authorities.
“We are thrilled to have completed these transactions,” said Matt Anfinson, Chief Executive Officer of Great Canadian. “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. I am grateful for their efforts, as well as everyone at the B.C. Lottery Corporation BCLC and the Gaming Policy Enforcement Branch Gaming Regulation, who were thoughtful, diligent, and thorough in facilitating these closings.”
“We look forward to working closely with PDG during the transition period to support the continued successful operation of Casino Nanaimo and Elements Casino Victoria,” concluded Anfinson.
“We celebrate the closing of our two casino acquisitions and our continued progress toward building a strong Snuneymuxw economy,” said Chief Mike Wyse. “For decades, Snuneymuxw leadership has worked tirelessly toward this moment, recognizing the connection between a strong economy, self-determination, and the foundation of nationhood. 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.”
Erralyn Joseph, President of PDG, stated, “This measured acquisition marks an important milestone for PDG as we continue growing a corporate enterprise that reinvests directly into the prosperity of our Nation. With a strong operating plan focused on risk mitigation and yielding sizable returns, PDG continues to generate sustainable wealth for Snuneymuxw. With every step we are realizing our socio-economic potential and influence at a local, national, and global level. On behalf of the Board of Directors, we are pleased to share this news and remain committed to advancing economic growth in support of all residents connected to Snuneymuxw territory.”
“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,” said Ian Simpson, Chief Executive Officer, PDG.
McCarthy Tétrault McCarthy Tétrault acted as legal counsel and KPMG Corporate Finance Inc. KPMG acted as financial advisor to PDG.
