Snuneymuxw and Musqueam complete River Rock Casino acquisition
Petroglyph Development Group and Musqueam Capital Corporation have completed their acquisition of Western Canada’s largest casino resort from Great Canadian Entertainment.
Great Canadian Entertainment has completed the sale of River Rock Casino Resort in Richmond, British Columbia, to a partnership formed by Petroglyph Development Group and Musqueam Capital Corporation. Petroglyph Development Group is wholly owned by Snuneymuxw First Nation, while Musqueam Capital Corporation is the economic development arm of Musqueam Indian Band. River Rock is situated on Musqueam-owned land. PDG will hold the majority interest and operate the casino and hotel through its Lahal Casino Management subsidiary. Financial terms were not disclosed.
The transaction follows PDG’s acquisitions of Casino Nanaimo, Elements Casino Victoria, Chances Maple Ridge and Great Canadian Casino Vancouver. The expanded portfolio establishes PDG as Canada’s largest Indigenous-owned casino operator by revenue. Snuneymuxw Chief Mike Wyse described the closing as a historic moment for both the Nation and Canada’s gaming and hospitality industry. “With the closing of the River Rock acquisition, we are taking combined ownership of the most recognised gaming destination in British Columbia,” he said.
Revenue generated by the portfolio will support community priorities, economic independence and long-term investment by Snuneymuxw First Nation and its partners. Opened in 2004, River Rock is Western Canada’s largest casino resort. The Fraser River property offers more than 1,200 slot machines and electronic table games, over 80 live tables, a poker room and live racebook. Its wider hospitality estate includes almost 400 hotel rooms, a 1,000-capacity theatre, marina, spa and ten food and beverage venues, including Gordon Ramsay Steak.
Great Canadian Entertainment CEO Matt Anfinson said the company had confidence in the partners’ leadership and long-term plans for the property. “We look forward to watching River Rock and its team members continue to thrive,” Anfinson said. The closing continues a significant transfer of casino ownership in British Columbia, with First Nations economic development organisations acquiring several established properties from Great Canadian Entertainment.
