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Acquisition marks another milestone in the ongoing collaboration between the two companies
Great Canadian Entertainment has confirmed the completion of Petroglyph Development Group’s acquisition of Chances Maple Ridge. The acquisition marks another milestone in the ongoing collaboration between the two companies. PDG is a wholly owned corporation of Snuneymuxw First Nation and the vehicle through which the Nation builds long-term economic self-determination. Snuneymuxw respectfully acknowledges the Katzie people, on whose territory Changes Maple Ridge operates.
“The closing of this acquisition marks an important moment for Snuneymuxw,” said Chief Mike Wyse, Xum’silum, Snuneymuxw First Nation. “Chances Maple Ridge officially becomes part of a growing portfolio that supports our Nation’s long-term prosperity and the well-being of future generations.”
Chances Maple Ridge has served the Maple Ridge community since its opening in 2013 and now officially joins PDG’s growing portfolio of gaming and hospitality assets, which includes Casino Nanaimo and Elements Casino Victoria. Great Canadian and PDG have previously announced the execution of agreements for PDG’s acquisition from Great Canadian of River Rock Casino Resort and Great Canadian Casino Vancouver.
“The completion of this transaction marks an important step in PDG’s continued expansion in the Metro Vancouver marketplace, and we are excited for their continued growth in the provincial gaming industry,” said Matt Anfinson, Chief Executive Officer of Great Canadian. “As was the case in the successful sales of Casino Nanaimo and Elements Casino Victoria to PDG, our team and PDG together invested a tremendous amount of work and cooperation to bring this transaction to a close.”
Revenue generated through Chances Maple Ridge and PDG’s growing portfolio is returned directly to Snuneymuxw, supporting Nation-building and community priorities, including monthly Sulxween (Elder) payments, community distributions, a firewood distribution program, scholarships and bursaries and community maintenance programs. As the portfolio expands, so too does the Nation’s capacity to invest in the priorities of its people.
“Each acquisition strengthens our position and allows us to scale in a thoughtful way that supports long-term economic success for the Nation,” said Erralyn Joseph, President of PDG. “With the closing of Chances Maple Ridge, we continue to build momentum as the largest Indigenous gaming operator in B.C. and the largest Indigenous-owned operator in Canada by revenue.”
“The successful acquisition of Chances Maple Ridge is the result of the disciplined, strategic approach PDG brings to every transaction,” said Ian Simpson, Yaatqumtun, Chief Executive Officer of PDG. “We are building a portfolio that is diversified, sustainable and positioned for continued growth.”
