BC’s first gaming M&A deal with First Nations as acquirer could be precedent: McCarthy Tétrault
As Reported in The Canadian Lawyer
Leading lawyer Pavan Jawanda expects more similar deals and says US can serve as an example
In a first-of-its-kind deal, the Snuneymuxw First Nation’s economic development arm has recently acquired two major casinos on Vancouver Island, marking a milestone in Canada’s gaming industry.
The acquisition of Elements Casino Victoria and Casino Nanaimo from Great Canadian Entertainment is the first M&A transaction involving an existing regulated casino business with a First Nations acquirer, says Pavan Jawanda, the McCarthy Tétrault partner who led the deal.
Jawanda says the transaction could pave the way for more First Nations involvement in the gaming industry.
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