First Nation buys one of B.C.'s most profitable casinos in Metro Vancouver | Daily Hive

First Nation acquires Great Canadian Casino Vancouver in Coquitlam

Great Canadian Casino Vancouver, Coquitlam. (Google Maps)

Another major casino in British Columbia is set to be purchased by a Vancouver Island-based First Nation.

Just before Christmas, it was announced that the Snuneymuxw First Nation has reached a definitive agreement to acquire the Great Canadian Casino Vancouver in southeast Coquitlam.

Up until the end of 2023, when the licensing agreement expired, this casino — located next to Highway 1 and near Coquitlam’s IKEA — was known as Hard Rock Casino Vancouver.

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The First Nation is acquiring the property through its wholly-owned, for-profit economic and real estate development company, Petroglyph Development Group (PDG). The deal is still subject to regulatory approvals.

“This latest agreement reinforces the strategy we’re executing and the proven results we’ve achieved across our gaming portfolio. The confidence placed in us by Great Canadian Entertainment and the industry is grounded in our disciplined approach to sustainable growth,” said Snuneymuxw First Nation chief Mike Wyse in a statement.

Ian Simpson, Yaatqumtun, CEO of PDG, added, “This milestone contributes to the momentum of our dynamic gaming portfolio and our commitment to local sustainable economic development. Great Canadian Casino Vancouver has long been an important contributor to the Coquitlam economy, and we’re committed to ensuring those benefits continue. As we expand Snuneymuxw’s economic development footprint, we remain focused on creating lasting value for our Nation, for the communities where we operate and for the region as a whole.”

Gordon Ramsay Burger at Great Canadian Casino Vancouver. (Daily Hive)

This is the Snuneymuxw First Nation’s fifth casino acquisition agreement with Great Canadian Entertainment in the past year, following the announcements of their acquisitions of Casino Nanaimo, Elements Casino Victoria, and Chances Maple Ridge, as well as B.C.’s largest and highest revenue-generating casino of River Rock Casino Resort in Richmond, which is a joint acquisition of the casino business and license with the landlord of Musqueam Indian Band.

Separately, Great Canadian Entertainment also recently reached an agreement to transfer the casino business and license of Hastings Racecourse & Casino to the Tsleil-Waututh Nation.

Over the past 10 years, PDG has grown from having three companies under its portfolio to 13. It is also now one of B.C.’s largest casino operators.

Great Canadian Casino Vancouver first opened in 2001, and it features 917 slot machines, 37 table games, and 42 electronic table games, with B.C. Lottery Corporation’s 2023/2024 statistics showing this casino property saw $140.2 million in total revenue that fiscal year — making it the fifth highest revenue-generating casino out of about three dozen casinos across the province. This includes $110.2 million in slot revenue and $74.3 million in table revenue.

Its revenue generation is only behind River Rock Casino, Grand Villa Casino, Cascades Casino Langley, and Parq Vancouver.

The casino property also features the 1,050-seat The Show Theatre and the recently opened Gordon Ramsay Burger restaurant.

“Great Canadian Casino Vancouver has thrived because of the passion and dedication of our team members and community,” said Matthew Anfinson, CEO of Great Canadian Entertainment.

“We are pleased to pass this legacy into the hands of Snuneymuxw First Nation and the vision they hold for the business’s future. We have every confidence that PDG and Snuneymuxw will continue to elevate this and their other properties for years to come.”

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