Great Canadian Entertainment and Semiahmoo First Nation Announce Purchase and Sale Agreement for Elements Casino Surrey

SURREY, British Columbia--(BUSINESS WIRE)--Great Canadian Entertainment (“Great Canadian”) and the SE-MI-AH-MU Development Corporation, the economic development arm of Semiahmoo First Nation (“ SE-MI-AH-MU ”) announced today that they have entered into a definitive agreement for the purchase by SE-MI-AH-MU from Great Canadian of Elements Casino Surrey.

Great Canadian’s Board of Directors unanimously approved the transaction, which remains subject to financial commitments, customary closing conditions as well as customary approvals by the regulatory authorities and the City of Surrey, which owns the underlying real property at Elements Casino Surrey. Under the terms of the definitive agreement, the Company will provide transition services to SE-MI-AH-MU for up to one year post-closing.

“Today’s announcement marks the eighth agreement we have executed with B.C.-based First Nations for the sale of our B.C. operations. We are thrilled that the Semiahmoo First Nation is eager to enter the province’s casino sector with the purchase of Elements Casino Surrey,” said Matt Anfinson, Chief Executive Officer of Great Canadian. “Our next step will be to continue to work with the SE-MI-AH-MU team to timely close this transaction and then work with SE-MI-AH-MU and the Elements Casino Surrey team members for long term success.”

“This acquisition represents an important step forward in strengthening economic opportunity for Semiahmoo First Nation and reaffirming our presence within our traditional territory as a strong and capable business entity,” stated Chief Harley Chappell of Semiahmoo First Nation. “Through this new venture, we look forward to creating meaningful benefits for our people, supporting employment opportunities in the region, and contributing to the long-term well-being and prosperity of our community.”

McMillan is serving as legal counsel to Great Canadian and Munnings Law is serving as legal counsel to SE-MI-AH-MU.

About Great Canadian Entertainment

Great Canadian Entertainment is Canada’s leading gaming and entertainment company, with the most diversified collection of gaming and hospitality destinations across the country. From Ontario to British Columbia, Nova Scotia to New Brunswick, our properties feature slot machines, live and electronic table games, racetracks, restaurants, concert venues, conference facilities, and hotels, creating unforgettable experiences for millions of guests every year.

Proudly Canadian with historic roots in British Columbia, we began in 1982 as the Great Canadian Casino Company, operating two charity casinos at Vancouver’s Pacific National Exhibition. From those humble beginnings, we have grown into a national leader with operations in 23 cities and towns coast to coast. Today, more than 7,500 dedicated and diverse Canadian team members embody our values, operate with integrity, and share a passion for fun and excitement.

Our commitment to excellence is the foundation of everything we do. We are proud to provide exceptional entertainment experiences for our guests, meaningful and rewarding opportunities for our team members, and lasting support for the communities where we live and work. At Great Canadian Entertainment, we are proud to be part of Canada’s story, working together to deliver vibrant entertainment, important revenue to support government priorities, and a future that continues to celebrate Canadian strength.

To learn more, please visit www.greatcanadian.com or follow us on Twitter, Instagram, Facebook and LinkedIn.

About Semiahmoo First Nation

Semiahmoo First Nation is the home of the Semiahma people, whose connection to the lands and waters of the Salish Sea reaches back since time immemorial. Our people have lived along the shores of Semiahmoo Bay for thousands of years, guided by our teachings that remind us how to live in balance with the land and with one another. Today, from our community near White Rock and Surrey, we honour those who came before us by caring for our lands and waters and carrying forward our responsibility to future generations. Through ceremony, stewardship, and community leadership, our culture continues to guide us.

We welcome visitors and neighbours to learn about our story and walk with us as we continue to protect our territory and strengthen our community for generations to come.