Great Canadian Entertainment Finalizes Hastings Casino Sale

  • Casino portion of Hastings Racecourse & Casino sold to B.C. First Nation
  • Hastings Casino an entertainment landmark in Vancouver, with 400 slot machines
  • This is the latest B.C. casino sale for Great Canadian Entertainment

Great Canadian Entertainment announced the formal sale of Hastings Casino, in Vancouver, to the Tsleil-Waututh Nation (TWN).

Hastings Racecourse & Casino located in downtown Vancouver, was sold to the Tsleil-Waututh Nation. (Image: Great Canadian Entertainment)

The two parties agreed to a memorandum of understanding to transfer ownership of the property back in June. Monday’s announcement was that they had reached a definitive agreement. TWN is purchasing the casino portion of the business and the casino-related real property interests at Hastings Racecourse & Casino.

Tsleil-Waututh Nation, known as People of the Inlet, is a First Nation band government, one of many communities of Coast Salish peoples living in BC, Oregon, and Washington.

Hastings Racecourse & Casino in East Vancouver hosts its live racing season from spring to fall. There’s also simulcast horse racing from global racetracks. The casino, which is open year-round, features 400 slot machines, from classic reels to flashier video slots with progressive jackpots, blackjack, roulette, and craps, plus a poker room with regular tournaments. There’s a small sports lounge, called Eclipse, for betting on games.

“We are excited about this next step towards economic self-determination for our Nation in our traditional territory, which will bring benefits to our community and the next seven generations,” said Chief of səlilwətaɬ (Tsleil-Waututh Nation) Justin George. “I am grateful to our current and previous səlilwətaɬ leadership, as well as our Chief Administrative Officer (CAO), Chief Financial Officer (CFO), and Economic Development Department, for advancing and solidifying this opportunity.”

City of Vancouver Still Needs to Approve the Deal

The finalization of the deal is subject to closing conditions and regulatory approvals, including from regulatory authorities and the City of Vancouver, which owns the real estate at Hastings Park.

It has been an honor to steward the casino at Hastings Racecourse & Casino for over 20 years, and we recognize the important role this transaction plays in TWN’s economic self-determination,” said Great Canadian Entertainment CEO Matt Anfinson. “We will now dedicate our efforts to a successful close of this transaction, as well as supporting the Tsleil-Waututh Nation thereafter.”

Great Canadian Entertainment has been actively divesting itself of BC casino properties, selling numerous properties to several BC First Nations.

Mark is a long-time, seasoned journalist, as a writer and editor, working for several Toronto daily newspapers, then moving over to the digital arena, covering both sports and business. Over the past few years he moved over to the gaming arena, specifically covering the igaming industry in Canada for several platforms, as well as writing on sports betting.

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