Tsleil-Waututh Nation (TWN) has entered a non-binding Memorandum of Understanding (MoU) to acquire Hastings Racecourse & Casino in Vancouver, Canada.
The MoU is for an agreement in principle to acquire the casino business and related real property interests of the property from the Great Canadian Gaming Corporation.
"We are thrilled to take another important step towards economic self-determination for our Nation in our traditional territory, and we are eager to work with the senior management team at Great Canadian Entertainment to finalise due diligence and execute a definitive agreement, as well as working with the City of Vancouver to ensure the best long-term use of this important asset within the city," stated Jen Thomas, Chief of the Tsleil-Waututh Nation.
"We believe that this opportunity is historic for us in many ways, and we look forward to entering the gaming industry in due course.”
"We are excited about working with TWN on their potential acquisition of the casino operations and related real property interests at Hastings Racecourse & Casino," stated Matt Anfinson, CEO of Great Canadian Entertainment.
"Recognising that Hastings is part of the TWN's traditional territory, we can think of no better entity to inherit this asset, and we look forward to supporting them in the transition after the anticipated close of the sale.”
