The Snuneymuxw First Nation is taking over Casino Nanaimo on Vancouver Island casino after agreeing to a deal with Great Canadian Entertainment. [Image: Shutterstock.com]

Great Canadian Entertainment has agreed to sell Casino Nanaimo on Vancouver Island to local indigenous group Snuneymuxw First Nation’s Petroglyph Development Group (PDG). The Toronto-based company announced the agreement on Monday; neither party has revealed any dollar amounts.

The deal is subject to the necessary approvals and Great Canadian Entertainment agreed to help PDG transition for up to two years after the sale closes.

acknowledged the work over previous decades by previous councils and chiefs

Snuneymuxw Chief Mike Wyse acknowledged the work over previous decades by previous councils and chiefs to reach the point of having the First Nation’s first casino in British Columbia and reclaiming the land. He underlined the “significant benefits and substantial economic growth” that the purchase will generate for the local community.

Great Canadian Entertainment CEO Matt Anfinson believes that the staff and guests will continue enjoying a quality experience under the new owners when visiting the property that his company managed since its opening in 1986.

Casino Nanaimo has more than 400 slot machines, electronic table games, and six live table games. The First Nation is also the majority owner of a nearby hotel that it believes could be a potential destination for casino goers.