Tsleil-Waututh Nation Announces Historic Memorandum of Understanding to Purchase Casino Business at Hastings Racecourse & Casino
səlilwətaɬ (TSLEIL-WAUTUTH NATION), BC, June 6, 2025 /CNW/ - Today, səlilwətaɬ (Tsleil-Waututh Nation) (" TWN") announced that it has entered into a non-binding Memorandum of Understanding for an agreement in principle to acquire the casino business and related real property interests at Hastings Racecourse & Casino (" Hastings") in the City of Vancouver from Great Canadian Gaming Corporation (" Great Canadian Entertainment").
"We are thrilled to take another important step towards economic self-determination for our Nation in our traditional territory, and we are eager to work with the senior management team at Great Canadian Entertainment to finalize due diligence and execute a definitive agreement, as well as working with the City of Vancouver to ensure the best long-term use of this important asset within the City," stated Jen Thomas, Chief of the Tsleil-Waututh Nation. "We believe that this opportunity is historic for us in many ways, and we look forward to entering the gaming industry in due course," she concluded.
"We are excited about working with TWN on their potential acquisition of the casino operations and related real property interests at Hastings Racecourse & Casino," stated Matt Anfinson, Chief Executive Officer of Great Canadian Entertainment. "Recognizing that Hastings is part of the TWN's traditional territory, we can think of no better entity to inherit this asset, and we look forward to supporting them in the transition after the anticipated close of the sale," he concluded.
The agreement is subject to further due diligence, finalization of financial terms and the execution of a definitive purchase and sale agreement. Once a definitive agreement has been executed by the parties, it is anticipated that the transaction will be subject to customary closing conditions as well as customary approvals by gaming regulatory and other authorities, including certain approvals by the City of Vancouver given its ownership of the real property. It is expected that Great Canadian Entertainment will provide transition services to TWN for a period of time following the anticipated closing.
KPMG Corporate Finance Inc. is acting as financial advisor and McCarthy Tétrault LLP is acting as legal counsel to TWN. McMillan LLP is acting as legal counsel to Great Canadian Entertainment.
About səlilwətaɬ (Tsleil-Waututh Nation)
səlilwətaɬ (Tsleil-Waututh Nation) are known as People of the Inlet. səlilwətaɬ is a Coast Salish Nation whose territory centres around Burrard Inlet in the Greater Vancouver region. Tsleil-Waututh people carry a Sacred Trust, a responsibility, to care for and restore traditional territory to its former state. Today, Tsleil-Waututh is more than 600 people strong and growing. The community draws on knowledge from ancestors to remedy past wrongs, reclaim territory and traditions, and advance into a bright future. For more information on Tsleil-Waututh Nation, visit https://twnation.ca/our-story
About Great Canadian Entertainment
Founded in 1982, Great Canadian Entertainment is Canada's premier gaming and hospitality company with gaming, entertainment, hospitality and resort facilities in Ontario, British Columbia, New Brunswick, and Nova Scotia.
Committed to investing in and offering opportunity to those in the communities in which it operates, Great Canadian Entertainment supports hundreds of charitable and non-profit organizations across Canada under its PROUD program; "PROUD of our people, our business, our community". A significant portion of gross gaming revenue from Great Canadian Entertainment's gaming facilities is retained by Crown partners on behalf of their provincial governments for the purpose of supporting programs that benefit healthcare, education, and social services in Canada. To learn more, please visit www.greatcanadian.com or follow us on Twitter, Instagram, Facebook and LinkedIn.
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The Province
10-06-2025
- The Province
Tsleil-Waututh Nation reveals plan to buy casino at Hastings Park
Tentative agreement made to buy casino and related real estate as future of horse racing remains in question at storied site The casino at Hastings Park in Vancouver on June 9. Photo by Arlen Redekop / PNG A Vancouver-area First Nation is looking at getting into the gambling industry, with a plan to purchase the casino at Hastings Park in east Vancouver. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Exclusive articles by top sports columnists Patrick Johnston, Ben Kuzma, J.J. Abrams and others. Plus, Canucks Report, Sports and Headline News newsletters and events. Unlimited online access to The Province and 15 news sites with one account. The Province ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles and comics, including the New York Times Crossword. Support local journalism. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Exclusive articles by top sports columnists Patrick Johnston, Ben Kuzma, J.J. Abrams and others. Plus, Canucks Report, Sports and Headline News newsletters and events. Unlimited online access to The Province and 15 news sites with one account. The Province ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles and comics, including the New York Times Crossword. Support local journalism. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors The Tsleil-Waututh First Nation announced Friday that it has signed a non-binding tentative agreement to buy the casino from Great Canadian Gaming Corp., and the related real estate, a roughly 16-hectare piece of the larger PNE grounds, from the City of Vancouver. 'It's something we've been looking at for almost 20 years, trying to get into the casino business,' Tsleil-Waututh Chief Jen Thomas said in a phone interview Monday. 'We've seen nations, and tribes across the border do this, and now this opportunity came across our table and we couldn't say no to having a discussion with Great Canadian.' In April, the Vancouver Whitecaps said it's in talks with the city about potentially building a new stadium on part of the city-owned Hastings Park, which is also known as the PNE grounds and encompasses about 66 hectares including the horse-racing track, casino, the Playland amusement park and the Pacific Coliseum. Essential reading for hockey fans who eat, sleep, Canucks, repeat. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. Hastings Park in Vancouver on June 9, 2025. Photo by Arlen Redekop / PNG Thomas said that the Tsleil-Waututh First Nation hasn't had any discussions about a new soccer stadium. The First Nation would be subject to the same rules as any other entity operating a casino, and would be regulated by the B.C. Lottery Corp., Thomas said. 'We'll just have to dive right in and learn how to run it accordingly.' In the coming months, the nation will work with its financial adviser KPMG to analyze the deal, Thomas said, and the parties will continue to work on finalizing the terms. The deal doesn't include the racetrack beside the casino, Thomas said: 'It has nothing to do with the horse racing.' But it's unclear what the future will hold for horse racing at Hastings Park, which has hosted the sport since the late 19th century. This advertisement has not loaded yet, but your article continues below. Hastings Park in Vancouver on June 9, 2025. Photo by Arlen Redekop / PNG David Milburn, president of the Horsemen's Benevolent and Protective Association of B.C., said his group found out about the pending sale through the Friday news release but they hope that horse racing will continue at Hastings Park. In an emailed statement, the city said the sale of this property, as with any real estate owned by the City of Vancouver, would require approval by city council. Asked for details about how the Tsleil-Waututh announcement connects with city hall's discussions about a potential new soccer stadium on the PNE grounds, the city replied that it 'cannot disclose specific information regarding potential land-use matters.' Vancouver Coun. Mike Klassen said news of the pending deal with Tsleil-Waututh speaks to the strong interest in 'the future of Hastings Park as a destination for entertainment.' This advertisement has not loaded yet, but your article continues below. Klassen said that between discussions of a possible new soccer stadium at Hastings Park, and the new Professional Women's Hockey League team that will play out of the Pacific Coliseum starting next fall, plus the construction now underway on a new PNE amphitheatre that will host watch parties for next year's FIFA World Cup, 'there's just so much happening on those grounds right now.' What the PNE's new amphitheatre will look like when built. Construction began in spring 2024. Photo by Revery Architecture Klassen chairs the PNE's board of directors but said he doesn't speak on behalf of the PNE, only as a city councillor. Klassen said it's not clear right now what the future of horse racing at Hastings will look like, but that question has been a subject of public discussion since long before the recent news about the Tsleil-Waututh deal. This advertisement has not loaded yet, but your article continues below. 'Horse racing obviously has an extremely long history at Hastings Park, but it's a form of entertainment that's not as popular as it once was,' Klassen said. Chuck Keeling, an executive vice-president at Great Canadian, said in an emailed statement that the company was 'excited to reach this first step with the Tsleil-Waututh Nation.' 'It is business as usual in the interim for us and our team at Hastings, and there is much work to do before any definitive agreement may be reached,' Keeling said. SEwen@ dfumano@ Read More Vancouver Canucks Vancouver Canucks News Sports News
Vancouver Sun
09-06-2025
- Vancouver Sun
Tsleil-Waututh Nation reveals plan to buy casino at Hastings Park
A Vancouver-area First Nation is looking at getting into the gambling industry, with a plan to purchase the casino at Hastings Park in east Vancouver. The Tsleil-Waututh First Nation announced Friday that it has signed a non-binding tentative agreement to buy the casino from Great Canadian Gaming Corp., and the related real estate, a roughly 16-hectare piece of the larger PNE grounds, from the City of Vancouver. 'It's something we've been looking at for almost 20 years, trying to get into the casino business,' Tsleil-Waututh Chief Jen Thomas said in a phone interview Monday. 'We've seen nations, and tribes across the border do this, and now this opportunity came across our table and we couldn't say no to having a discussion with Great Canadian.' Start your day with a roundup of B.C.-focused news and opinion. By signing up you consent to receive the above newsletter from Postmedia Network Inc. A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Sunrise will soon be in your inbox. Please try again Interested in more newsletters? Browse here. In April, the Vancouver Whitecaps said it's in talks with the city about potentially building a new stadium on part of the city-owned Hastings Park, which is also known as the PNE grounds and encompasses about 66 hectares including the horse-racing track, casino, the Playland amusement park and the Pacific Coliseum . Thomas said that the Tsleil-Waututh First Nation hasn't had any discussions about a new soccer stadium. The First Nation would be subject to the same rules as any other entity operating a casino, and would be regulated by the B.C. Lottery Corp., Thomas said. 'We'll just have to dive right in and learn how to run it accordingly.' In the coming months, the nation will work with its financial adviser KPMG to analyze the deal, Thomas said, and the parties will continue to work on finalizing the terms. The deal doesn't include the racetrack beside the casino, Thomas said: 'It has nothing to do with the horse racing.' But it's unclear what the future will hold for horse racing at Hastings Park, which has hosted the sport since the late 19th century. David Milburn, president of the Horsemen's Benevolent and Protective Association of B.C., said his group found out about the pending sale through the Friday news release but they hope that horse racing will continue at Hastings Park. In an emailed statement, the city said the sale of this property, as with any real estate owned by the City of Vancouver, would require approval by city council. Asked for details about how the Tsleil-Waututh announcement connects with city hall's discussions about a potential new soccer stadium on the PNE grounds, the city replied that it 'cannot disclose specific information regarding potential land-use matters.' Vancouver Coun. Mike Klassen said news of the pending deal with Tsleil-Waututh speaks to the strong interest in 'the future of Hastings Park as a destination for entertainment.' Klassen said that between discussions of a possible new soccer stadium at Hastings Park, and the new Professional Women's Hockey League team that will play out of the Pacific Coliseum starting next fall, plus the construction now underway on a new PNE amphitheatre that will host watch parties for next year's FIFA World Cup, 'there's just so much happening on those grounds right now.' Klassen chairs the PNE's board of directors but said he doesn't speak on behalf of the PNE, only as a city councillor. Klassen said it's not clear right now what the future of horse racing at Hastings will look like, but that question has been a subject of public discussion since long before the recent news about the Tsleil-Waututh deal. 'Horse racing obviously has an extremely long history at Hastings Park, but it's a form of entertainment that's not as popular as it once was,' Klassen said. Chuck Keeling, an executive vice-president at Great Canadian, said in an emailed statement that the company was 'excited to reach this first step with the Tsleil-Waututh Nation.' 'It is business as usual in the interim for us and our team at Hastings, and there is much work to do before any definitive agreement may be reached,' Keeling said. SEwen@ dfumano@
CTV News
07-06-2025
- CTV News
Tsleil-Waututh First Nation looking to acquire Hastings Park casino in Vancouver
The racetrack in Hastings Park and the Pacific Coliseum are seen from the air in May 2019. (Pete Cline / CTV News Vancouver) The Tsleil-Waututh First Nation may soon be the owner of a casino in the City of Vancouver. The nation announced Friday that it had entered a 'non-binding memorandum of understanding' with Great Canadian Gaming Corporation that – if completed – would see the nation acquire the casino business and 'related real property interests' at Hastings Racecourse & Casino. 'We are thrilled to take another important step towards economic self-determination for our nation in our traditional territory, and we are eager to work with the senior management team at Great Canadian Entertainment to finalize due diligence and execute a definitive agreement, as well as working with the City of Vancouver to ensure the best long-term use of this important asset within the city,' said Chief Jen Thomas, in a statement. 'We believe that this opportunity is historic for us in many ways, and we look forward to entering the gaming industry in due course.' The agreement is subject to further due diligence and 'finalization of financial terms,' according to the statement. 'We are excited about working with TWN on their potential acquisition of the casino operations and related real property interests at Hastings Racecourse & Casino,' said Matt Anfinson, CEO of Great Canadian Entertainment, in the statement. 'Recognizing that Hastings is part of the TWN's traditional territory, we can think of no better entity to inherit this asset, and we look forward to supporting them in the transition after the anticipated close of the sale.' Any sales agreement that comes together is expected to be subject to 'customary approvals by gaming regulatory and other authorities,' the party said. One of those authorities would be the City of Vancouver itself, which owns the land on which the casino is located.
