More than 30 years ago, it looked like First Nations might get into the casino business in a big way.

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B.C. was expanding gambling and changing the rules, and First Nations were taking a hard look at establishing casinos, including on their own reserve lands, sometimes against the wishes of nearby municipalities and in conflict with the province.

There were proposals from the Musqueam, Tsawwassen and Katzie First Nations, among others.

While a casino was established in the B.C. Interior near Cranbrook on First Nation reserve lands, and another later near Salmon Arm, no major First Nation casinos went forward in urban areas.

First Nations bided their time.

In the past two years, First Nations in B.C. have simply bypassed the policies that made it difficult for them to establish their own casinos. They started buying existing casinos that were for sale, in particular, as Great Canadian Entertainment, owned by New York-based asset management firm Apollo Global Management, started divesting its casino holdings in B.C.

First Nations now own 12 casinos in the province, about one-third of the casinos and gambling centres in B.C. That includes casinos in Vancouver, Richmond, Surrey, Coquitlam, Chilliwack, Victoria and Nanaimo.

It’s big business.

The revenues of the 12 casinos total $713 million, with money going back to the operators totalling $248 million, according to the latest figures available, for the 2024-25 fiscal year, published by the B.C. Lottery Corp.

The province takes a big chunk of casino revenue, about 75 per cent, and casino operators must pay operating and capital costs out of their take. Revenues, particularly at larger casinos, can also come from food, beverages and entertainment.

First Nations view the casino purchases as a smart, strategic move, one that will provide a steady stream of annual revenue to provide money for services and capital investment in their communities, and one that will help to bolster the economic independence they have been building in the past decades.

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“This investment helps to strengthen our nationhood and our economic resilience. That’s key, given the catastrophic history of colonization,” says Erralyn Joseph, president of Petroglyph Development Group, the business arm of the Snuneymuxw First Nation.

The Snuneymuxw First Nation, based in and around Nanaimo on Vancouver Island, has purchased five casinos since January 2025, all from Great Canadian Entertainment. It makes them the largest First Nation casino-holder in Canada. The casinos and gambling centres are in Nanaimo and Victoria, and in Richmond, Coquitlam and Maple Ridge in Metro Vancouver.

The Musqueam have partnered with the Snuneymux on the purchase of the River Rock Casino in Richmond, the largest casino in B.C. Its revenues alone were $252 million in 2024-25, with money back to the operator totalling just under $94 million.

The Snuneymux casino deals have been underpinned with financing from the B.C.-based First Nations Finance Authority, an Indigenous-governed financial institution that allows First Nations to pool their borrowing powers and secure low-interest loans. The finance authority also provided financing to the Musqueam, whose community is in southwest Vancouver on the north arm of the Fraser River and whose traditional territory extends throughout Metro.

In other transactions with Great Canadian, the Semiahmoo First Nation bought a casino in Surrey, the Ts’elxwéyeqw Tribe a casino in Chilliwack, and the Tsleil-Waututh a casino in Vancouver.

The Gitxaała First Nation bought a gambling centre in Prince Rupert from a U.S.-based company and the Cowichan Tribes took over sole ownership of a gambling centre in Duncan recently, which they had held with the Duncan Dabber Bingo Society.

Joseph says the casino purchases are only the latest logical move as the Snuneymuxw First Nation — through its economic arm, the Petroglyph Development Group — has built a portfolio of businesses starting more than a decade ago. That includes forestry, property development, a cannabis growing facility and shop, a marina, restaurants, gas station, general store, trucking and logistics, and a hotel in Nanaimo, the Courtyard Marriott.

In this case, Great Canadian reached out to the Snuneymuxw First Nation, noted Joseph.

“Our leadership is progressive and open-minded to consider opportunities, and when the time comes, we’re ready,” she said. “There is multiple opportunities that are coming forward that are massive, and we’re excited to grow our Snuneymuxw economy.”

Locally owned

The prospect of First Nations owning casinos in Canada first came to the forefront in the 1980s and to some extent was put into force in the 1990s.

Yale Belanger, a professor and chairperson of the political science department at the University of Lethbridge in Alberta, said the idea then was to establish casinos on reserve land, where it would draw revenues into the community to help develop additional goods and services economies that would employ people.

Creating casinos on First Nation land was also considered important as an assertion of self-determination, said Yale, who researches gambling and First Nations and is the author of the 2006 book, Gambling With the Future: The Evolution of Aboriginal Gaming in Canada.

But eventually provinces became restrictive in allowing First Nations to establish casinos and few were, he added.

Yale said, however, he’s not surprised that First Nations have found a way to bypass provincial policies and that in places like Alberta and B.C. they’re buying up casinos.

In response to Postmedia News questions about the sales of the casinos, the B.C. Finance Ministry said that casino sales are private commercial transactions, and that they occurred without any financial or administrative support from the province.

In a written response sent by Katya Slepian, a senior public affairs officer with the Finance Ministry, the province said the sales are subject to regulatory approvals by B.C.’s Independent Gambling Control Office and financial due diligence by the B.C. Lottery Corp.

“The process involves interviews and comprehensive regulatory due diligence to assess the integrity and suitability of applicants,” said the Finance Ministry. “The (Independent Gambling Control Office) conducts these checks for all registrations, and there are no differences in the process for First Nations-owned companies that have purchased casinos in B.C.”

Yale noted the province needs owner-operators to come in and maximize profits, and clearly they believe the First Nations are capable of doing that. Another benefit, is First Nations are localized owners, as opposed to a group from New York, he said.

“There’s a tremendous level of benefit in terms of spinoffs that are just not exclusive to revenue generation, and I think that a lot of research has gone into entering the market. These (First Nations) know what they’re doing,” Yale said.

Great Canadian hasn’t said why they’re selling their B.C. casinos, but a research report from the bond-rating agency S&P Global noted that the company will use $650 million to $675 million of the proceeds of four of the sales toward paying down debt taken on when Apollo bought the Canadian casino company in 2021. The company still owns other casinos in Canada.

Great Canadian declined to answer questions from Postmedia on why they were selling the casinos and why they had done so to First Nations.

When the sale of the River Rock Casino closed June 16, Matt Anfinson, the president and CEO of Great Canadian Entertainment, said he had full confidence in the Petroglyph Development Group and the Musqueam Capital Corp.’s collective leadership and long-term vision for River Rock and the community it serves.

“We look forward to watching River Rock and its team members continuing to thrive while contributing to the economic success of the Snuneymuxw First Nation and Musqueam Indian Band,” said Anfinson.

Rebranding and upgrades

The Snuneymuxw and Musqueam are planning rebranding and upgrades to their casinos, including the River Rock.

“We’re here for the long-term,” said Joseph.

“We’re talking about over at least 1,800 staff amongst all of these facilities that we own now, and that’s a lot of dinner tables, that’s a lot of livelihoods. And it was important for us to get that message out that we will stay local, we’re not going anywhere, and we care about you,” said Joseph about recent town halls held with the staff.

She added that she believes their long-term view brings stability to BCLC and to the market, and opportunities to bring a fresh perspective on how to expand the market and also respond to some pressures.

Joseph said that for their own community it means revenue to help support well-being, including, for example, a monthly pension payment provided to elders.

Wayne Sparrow, chief of the Musqueam Indian Band, says the partnership in the River Rock Casino is an example of First Nations working together to build economic prosperity for their communities that will support jobs and other opportunities.

The Musqueam have taken a 30 per cent stake in the casino operation, which can move up to 50 per cent in five years.

The Musqueam own the land that the River Rock Casino leases. The province provided the land in 2008 as part of a settlement of an Aboriginal land claim, for which the province had granted a “sweetheart” lease to the operator at the time for 20 years. That lease has been extended and negotiated on better terms as part of their partnership with the Snuneymuxw First Nation, noted Sparrow.

The Musqueam had also looked seriously at becoming involved in the casino business decades ago, but then pulled back from the idea.

In the past several years, they had let Great Canadian know they were interested in River Rock if it was for sale, said Sparrow, knowing that the N.Y.-based company wasn’t likely to hold on to it for the long-term.

He said he’s looking forward to the rebranding of the type you would see if you visit a First Nation casino south of the border in Washington state, for example at the Tulalip Resort Casino.

Said Sparrow: “That’s the thing that excites me — is that when you walk in you can tell it’s First Nations.”

ghoekstra@postmedia.com

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