Snuneymuxw First Nations Leads Historic Gaming Acquisition on Vancouver Island
Deal News | Feb 28, 2025 | EIN
In a landmark transaction, the economic development arm of the Snuneymuxw First Nations has acquired two major casinos on Vancouver Island from Great Canadian Entertainment. This acquisition, involving Elements Casino Victoria and Casino Nanaimo, marks the first instance of a pre-existing, regulated casino business being bought by a First Nations entity. The deal was led by Pavan Jawanda, a partner at McCarthy Tétrault, who believes this could herald increased First Nations participation in Canada's gaming sector. The move signifies not only a new development in the gaming industry's ownership landscape but also potential future opportunities for First Nations involvement in similar ventures.
Sectors
- Gaming and Entertainment
- Mergers and Acquisitions
- Indigenous Economic Development
Geography
- Canada – The deal takes place within Canada, specifically relating to Vancouver Island in British Columbia.
- Vancouver Island – These are the geographic locations where the acquired casinos are located.
Industry
- Gaming and Entertainment – This industry classification is relevant because the acquisition involves casinos and the gaming industry in Canada.
- Mergers and Acquisitions – This classification applies as the article discusses a notable transaction involving the acquisition of casino businesses.
- Indigenous Economic Development – This is relevant as the deal involves the economic development arm of the Snuneymuxw First Nations.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Snuneymuxw First Nations Economic Development Arm | Buyer | Company | The economic development arm of the Snuneymuxw First Nations, involved in acquiring the casinos. |
| Great Canadian Entertainment | Seller | Company | The company from which the casinos were acquired. |
| Elements Casino Victoria | Target Company | Company | One of the casino properties acquired in the transaction. |
| Casino Nanaimo | Target Company | Company | Another casino property involved in the acquisition. |
| McCarthy Tétrault | Legal Advisor | Company | The law firm led by Pavan Jawanda that facilitated the transaction. |
| Pavan Jawanda | Deal Leader | Person | A partner at McCarthy Tétrault who led the deal. |