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McCarthy Tétrault Advises Petroglyph Development Group and Snuneymuxw First Nation on Historic Acquisitions of Elements Casino Victoria and Casino Nanaimo

Date Closed

January 16, 2025

Lead Office

Vancouver

McCarthy Tétrault advised Petroglyph Development Group (“Petroglyph”) and Snuneymuxw First Nation (“Snuneymuxw”) on Petroglyph’s acquisitions of Elements Casino Victoria, the largest all-inclusive gaming destination on Vancouver Island, and Casino Nanaimo, Vancouver Island’s other landmark gaming facility, from Great Canadian Entertainment in historic transactions for both parties and the Canadian gaming industry generally. Petroglyph is a wholly owned corporation of Snuneymuxw and is dedicated to realizing the economic potential of the Nation. These acquisitions are part of Petroglyph’s strategy to expand its presence in the gaming industry and will enhance First Nations participation in the Canadian gaming industry as key operators, investors and strategic partners. The acquisitions received support and regulatory approvals from BC Lottery Corporation and the Gaming Policy Enforcement Branch, and were financed with acquisition loans from First Nations Finance Authority, which provides financing and access to long-term loans to First Nations members. McCarthy also advised Petroglyph and Snuneymuxw on the acquisition debt financing and related working capital facilities.

The Snuneymuxw are a vibrant First Nation of the Coast Salish People, located in the center of Coast Salish territory on the eastern coast of Vancouver Island, the Gulf Islands, the Fraser River, Burrard Inlet and the Howe Sound. The Snuneymuxw territory encompasses one of the most productive and resource rich areas at the heart of the Salish Sea. On December 23, 1854, the Crown entered the Snuneymuxw Treaty of 1854 constituting solemn promises and obligations to forever and always protect Snuneymuxw villages, enclosed fields, and the right to hunt and fisheries as formerly.

Founded in 1982, Great Canadian Entertainment is one of Canada’s premier gaming and hospitality companies with gaming, entertainment, hospitality and resort facilities in Ontario, British Columbia, New Brunswick and Nova Scotia.

The McCarthy team was led by Pavan Jawanda and Thomas Fung and included Jordan Chu, Pedram Gholipour, Rachel Abrahams (M&A), Liezl Behm, Kean Silverthorn, Joshua Friedman, Michael Solomon (Financial Services), Mike Dolson, Matthew Kraemer, Camille Belanger (Tax), Christopher McHardy, Jessica Hoskins (Labour and Employment), Craig Shirreff, Patrick Beechinor (Real Property), Gregory Winfield, Julia Miller (Pensions), Danielle Bush, Marissa Caldwell (Commercial), Vincent Yip (Intellectual Property), Jade Buchanan (Privacy), Selina Lee-Andersen (Environmental) and Oliver Borgers (Competition), as well as paralegals Bonnie Campbell, Cathy Wilson, Isabel Gonzales and Majic Greenwood.

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