Snuneymuxw First Nation Partners with Musqueam to Acquire River Rock Casino Resort
Musqueam has announced that they have reached an agreement with Snuneymuxw First Nation to partner on the acquisition of the River Rock Casino Resort, the largest casino in Western Canada.
Snuneymuxw First Nation Partners with Musqueam to Acquire River Rock Casino Resort
Petroglyph Development Group (PDG), which is the corporation owned by Snuneymuxw that purchased the casino, also recently purchased Casino Nanaimo and Elements Casino in View Royal. The purchase is subject to closing conditions and regulatory and third party approvals, and includes the River Rock Casino in Richmond and Chances Casino Maple Ridge.
“Our growing partnership with Great Canadian Entertainment has brought us to what was envisioned by our Ancestors and guided by decades of Snuneymuxw Chiefs and Councils,” said Chief Mike Wyse, Xum’silum, Snuneymuxw First Nation (source: press release).
“By securing ownership in four thriving casino operations, we are realizing a dream of long-term economic independence and creating lasting prosperity for our people and the communities we serve. Nation-to-Nation collaboration benefits all of us. We respectfully acknowledge Musqueam, on whose territory River Rock Resort Casino is located, and the Katzie, whose territory includes Chances Maple Ridge. Snuneymuxw looks forward to continuing our conversations with both Nations and exploring the economic development opportunities before us.”
Musqueam posted on Facebook today: Musqueam owns the land that River Rock operates on, and over the past nine months, Musqueam has explored different opportunities to acquire River Rock. Musqueam is seeking to benefit from its established success, especially because it is in our core territory, on land we already own, and a business many of our members enjoy visiting.
“Musqueam is a leading economic contributor within our traditional territory, actively diversifying our investment opportunities,” said Musqueam Chief Wayne Sparrow. “We thank the Snuneymuxw First Nation for approaching us on an opportunity to partner on the acquisition of the River Rock Casino which operates on Musqueam-owned land. Musqueam and Snuneymuxw have reached an agreement in principle on a letter of intent. We will be working through finalizing details over the coming weeks as we meaningfully consult with community members. We look forward to collaborating on the work ahead.”
Upon closing and subject to regulatory and other approvals, PDG is expected to become one of the largest casino operators by revenue in British Columbia, and anticipates being the largest Canadian Indigenous owned gaming operator by revenue in Canada.
“For over 20 years, River Rock Casino Resort has been the largest casino resort in Western Canada. Since its opening in 2013, Chances Casino Maple Ridge has been a cornerstone of the Maple Ridge community,” said Matthew Anfinson, CEO, Great Canadian Entertainment. “PDG has proven to be a leader in casino operations. We are delighted to have the opportunity to transfer the ownership and operation of these two important properties to the PDG team.”
