Chances Maple Ridge joins PDG’s growing portfolio of casino properties in British Columbia
Petroglyph Development Group (PDG) has expanded its presence in British Columbia after completing the acquisition of Chances Casino in Maple Ridge.
The acquisition gives PDG, a wholly owned corporation of Snuneymuxw First Nation, another vehicle through to which to build long-term economic growth, adding to last year’s acquisitions of Casino Nanaimo and Elements Casino Victoria.
The agreement to acquire Chances Maple Ridge from Great Canadian Entertainment was announced in October, alongside the planned acquisition of River Rock Casino Resort, with the latter transaction yet to close.
“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.”
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.
“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.”
Great Canadian Entertainment chief executive Matt Anfinson added: “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.
“As was the case with 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.”