Great Canadian Entertainment announced that it has completed the sale of River Rock Casino Resort in Richmond, British Columbia.
The property was sold to a partnership formed by Petroglyph Development Group and Musqueam Capital Corp. Petroglyph Development Group is a wholly owned corporation of Snuneymuxw First Nation, while Musqueam Capital Corp is the economic development arm of Musqueam Indian Band.
The closing completes a previously announced agreement between Great Canadian Entertainment and Petroglyph Development Group. It also follows Petroglyph Development Group’s acquisition from Great Canadian Entertainment of Casino Nanaimo, Elements Casino Victoria, Chances Maple Ridge, and Great Canadian Casino Vancouver.
Great Canadian Entertainment said the transaction solidifies Petroglyph Development Group’s position as the largest Indigenous-owned casino operator in Canada by revenue.
River Rock Casino Resort opened on June 25, 2004, and has become the largest casino resort in Western Canada. Located along the Fraser River on Musqueam lands, the property is one of the most prominent gaming, hospitality, and entertainment destinations in the Metro Vancouver market.
The resort includes Gordon Ramsay Steak, the first Canadian fine dining restaurant from Gordon Ramsay. The property also features more than 1,200 slot machines and electronic table games, more than 80 live table games, a live racebook, poker room, nearly 400 hotel rooms, a 1,000-person theatre, marina, 10 food and beverage venues, and a full-service spa.
Support: McMillan served as legal counsel to Great Canadian Entertainment.
KEY QUOTE:
“River Rock Casino Resort is one of the most successful and iconic gaming and hospitality destinations in Canada. We have full confidence in PDG’s and MCC’s collective leadership and long-term vision for River Rock and the community it serves. We look forward to watching River Rock and its team members continuing to thrive while contributing to the economic success of the Snuneymuxw First Nation and Musqueam Indian Band.”
Matt Anfinson, CEO of Great Canadian Entertainment
