First Nation Deal Signals Major Casino Expansion at Hastings Racecourse
Casino Expansion Deal: First Nation Announces Tentative Purchase of Hastings Racecourse and Casino
- Great Canadian sold two other BC casino properties to First Nations in 2024
- Casino expansion plans in the works
- Deal still needs to be finalized
Great Canadian Entertainment has announced a significant step in the regional casino expansion by announcing the sale of the Hastings Racecourse & Casino, located in Vancouver, to the Tsleil-Waututh Nation. Known as the People of the Inlet, the Tsleil-Waututh Nation is part of the Coast Salish First Nations, encompassing communities across British Columbia, Oregon, and Washington, marking a strategic move in the expansion of gaming opportunities across the Pacific Northwest.
“We are delighted to take this significant step towards empowering our community economically within our traditional territory,” said Jen Thomas, chief of the Tsleil-Waututh Nation. “We are keen to collaborate with Great Canadian Entertainment to see this deal through and ensure that the layout of the property aligns with long-term goals for our Nation as well as the City of Vancouver.”
As one of the few venues in the province that combines thoroughbred horse racing and casino operations, Hastings Racecourse offers an impressive venue with more than 500 slot machines located on a sprawling 42,000-square-foot gaming floor beneath the grandstands. The site also features live horse racing and simulcast events from tracks around the world.
Future Plans for Casino Expansion
Plans are already underway for an expansion of Hastings Racecourse & Casino which may include upgrades facilitated through the British Columbia Lottery Corporation (BCLC), the organization that oversees land-based casinos in the province. The anticipated expansion is expected to boost economic output for both the City of Vancouver and the Tsleil-Waututh Nation.
Details of the Agreement
While the two parties have signed a memorandum of understanding to proceed, the financial terms of the sale and the official purchase agreement have yet to be formalized. The sale remains subject to regulatory approvals from gaming authorities as well as the city. Great Canadian Entertainment has expressed their commitment to providing support throughout the transition.
In a similar vein, the company previously divested two properties on Vancouver Island—Casino Nanaimo and Elements Casino Victoria—to the Petroglyph Development Group Ltd., owned by the Snuneymuxw First Nation.
Great Canadian operates casino venues and entertainment facilities across several provinces including British Columbia, Ontario, Nova Scotia, and New Brunswick.
“We are thrilled about partnering with the Tsleil-Waututh Nation for this acquisition,” shared Great Canadian CEO, Matt Anfinson. “Given that Hastings is situated on their traditional lands, we have no better custodian to oversee this asset.”
In summary, the acquisition of Hastings Racecourse & Casino by the Tsleil-Waututh Nation reflects a significant milestone for First Nations in British Columbia as they seek to enhance economic self-reliance. With plans for expansion and a focus on collaboration, this development marks a promising future for both the Nation and the Vancouver gaming landscape.
