Great Canadian Entertainment is selling Casino Nanaimo, a well-known facility on Vancouver Island, to Petroglyph Development. The acquisition was approved by the Great Canadian Board of Directors in unanimity.<\/p>\n
However, the sale is still pending customary closing conditions and regulatory clearances. For a maximum of two years following closure, Great Canadian will offer Petroglyph transition services as part of the final agreement.<\/p>\n
Petroglyph Development, a wholly owned corporation of the Snuneymuxw First Nation, is dedicated to maximizing the economic potential of the Nation.<\/p>\n
Great Canadian Entertainment, which has owned Casino Nanaimo since it opened in 1986, called the deal a \u201chistoric transaction for both parties\u201d in its press release.<\/p>\n
Great Canadian CEO Matt Anfinson expressed his excitement in beginning a new era, saying, \u201cWe are very pleased to have executed this agreement. As the operator of Casino Nanaimo since its inception in 1986, we believe that under Petroglyph\u2019s steady management, this transaction will provide Casino Nanaimo, its guests, and team members with an exciting new chapter.\u201d<\/p>\n
Anfinson added, \u201cWe look forward to the closing and then working with the Petroglyph team during the transition period to ensure an outstanding outcome for all parties.\u201d<\/p>\n
Petroglyph President Erralyn Joseph also said, \u201cThe Snuneymuxw group of companies are profoundly honored to support Snuneymuxw economic growth in significant and meaningful ways.\u201d<\/p>\n
Joseph continued, \u201cIn 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\u2019lexwel village. On behalf of the Board of Directors, we are pleased to share this news and remain committed to advancing the region\u2019s economic growth in support of all its residents.\u201d<\/p>\n
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.<\/p>\n