Less than three months after selling Casino Nanaimo to the Snuneymuxw First Nation, Great Canadian Entertainment has done the same with its Elements Casino Victoria.

The Canadian gaming and hospitality company announced on Sept. 10 a definitive agreement to sell the Victoria casino to Petroglyph Development Group Ltd., a wholly owned corporation of Snuneymuxw.

Great Canadian’s Board of Directors unanimously approved the transaction, which remains subject to customary closing conditions as well as approvals by the regulatory authorities. Great Canadian will provide transition services to PDG for up to two years post-closing.

Great Canadian CEO Matt Anfinson said the transaction will ensure “yet another outstanding outcome for the community, our guests, our team members, and the Nation.”

“We are very pleased to have executed this second historic agreement with the Snuneymuxw First Nation,” added Anfinson. “From its original opening as View Royal Casino in 2001 to major expansion and rebranding of the property in 2018 as Elements Casino Victoria, we are looking forward to the next chapter for this beautiful and historic Vancouver Island destination under PDG’s stewardship.”

Great Canadian owns or operates two dozen casinos across Canada, spanning B.C., Ontario, New Brunswick and Nova Scotia. In B.C., it has Great Canadian Casino Vancouver (formerly under Hard Rock branding) and Hastings Racecourse and Casino in Vancouver under its umbrella, as well as two other Elements Casino properties in Chilliwack and Surrey, a Chances Casino in each of Dawson Creek and Maple Ridge, and Richmond’s River Rock Casino Resort.

Snuneymuxw First Nations continues to invest in itself

The Snuneymuxw are a First Nation of the Coast Salish People, located in the heart of Coast Salish territory the spans the eastern coast of Vancouver Island, the Gulf Islands, the Fraser River, Burrard Inlet and the Howe Sound. The Nation is protected under the Snuneymuxw Treaty of 1854.

PDG CEO Ian Simpson said the acquisition of Elements Casino Victoria will unlock unprecedented economic potential for Snuneymuxw and PDG, “paving the way for transformative growth in Snuneymuxw’s economy and the profits that PDG returns to our Nation.”

“This measured acquisition is one that PDG celebrates on our quest to build a corporate enterprise that reinvests into Snuneymuxw First Nation,” added PDG President Erralyn Joseph. “With a strong operating plan that includes risk mitigation and yields sizable gains, PDG is well on its way to generating wealth for Snuneymuxw and taking a seat at the local, regional, provincial, national and global economic tables.”

As part of the deal to sell Casino Nanaimo announced in June, the land on which the casino stands, part of the xwsol’lexwel village, will be returned to the First Nation upon closing. Petroglyph already has the majority ownership stake in the adjacent Courtyard by Marriott hotel on the site.

The acquisition of a second B.C. casino from Great Canadian marks another step in the Snuneymuxw’s self-determination and nationhood, said Snuneymuxw Chief Mike Wyse.

“With the acquisition of a second casino operation, we continue to honour the decades of work by past Snuneymuxw leadership who tirelessly pursued this goal, as we begin to realize various opportunities that contribute to optimizing Snuneymuxw socioeconomic potential,” added Wyse. “Our Nation is sharply focused to make investments that bring returns to our people and builds our presence in the economy so that Snuneymuxw takes its rightful place.

“Today, we also celebrate our partnership with the BCLC in our shared pursuit to support the growth of the provincial economy and First Nation participation.”