
Great Canadian Entertainment sold River Rock Casino Resort to a Petroglyph-MCC partnership, making PDG Canada's largest Indigenous-owned casino operator by revenue.
Great Canadian Entertainment closed the sale of its River Rock Casino Resort in Richmond, B.C., handing the property to a partnership between Petroglyph Development Group and Musqueam Capital Corp. The deal, announced Wednesday, caps a string of divestitures that leaves PDG as the largest Indigenous-owned casino operator in Canada by revenue.
River Rock is the biggest casino resort in Western Canada, with nearly 400 hotel rooms, a Gordon Ramsay steakhouse, 1,200 slot machines, and more than 80 live table games. It opened in 2004 on Musqueam First Nation land along the Fraser River. The sale follows PDG's earlier acquisitions of Casino Nanaimo, Elements Casino Victoria, Chances Maple Ridge, and Great Canadian Casino Vancouver from the same seller.
Matt Anfinson, Great Canadian's CEO, said the company has "full confidence in PDG's and MCC's collective leadership and long-term vision for River Rock and the community it serves." McMillan LLP advised Great Canadian on the transaction.
Great Canadian, which started as a two-casino charity operation at Vancouver's Pacific National Exhibition in 1982, now runs properties in 20 cities across five provinces. The company has been shedding British Columbia assets while retaining its Ontario, Nova Scotia, and New Brunswick locations.
The River Rock sale shifts control of one of Canada's most profitable casino resorts to a partnership that combines PDG's growing gaming portfolio with Musqueam Capital Corp., the economic development arm of the Musqueam Indian Band. PDG is wholly owned by the Snuneymuxw First Nation.
For investors tracking the Canadian gaming sector, the deal marks a structural shift in B.C.'s casino market. River Rock had long set the benchmark for Metro Vancouver gaming revenue. Its new ownership structure ties the property directly to two First Nations' economic development mandates, a model that could influence future asset sales in the province.
Great Canadian did not disclose the sale price or terms of the transaction.
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