The Tsleil-Waututh Nation is one step closer to purchasing the casino at Hastings Park in Vancouver. The First Nation and Great Canadian Entertainment announced Monday they have entered into a “definitive agreement” for the Tsleil-Waututh to buy the casino portion of the business and “casino-related real property interests” at Hastings Racecourse and Casino. The deal comes after the two parties announced “non-binding memorandum of understanding” on the purchase in June. The final closing of the transaction is subject to approvals by regulatory bodies and the City of Vancouver, which owns the land the casino sits on. “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,” səlilwətaɬ Chief Justin George said, in the joint statement. “We are proud to announce an agreement for the sale of this landmark casino business to TWN. It has been an honour 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,” Great Canadian Entertainment CEO Matt Anfinson said. “We will now dedicate our efforts to a successful close of this transaction, as well as supporting the Tsleil-Waututh Nation thereafter.” Should the sale go forward, Great Canadian Entertainment says it will provide “transitional services” for a time after the closing. The monetary value of the agreement was not disclosed.
