The owner of Hastings Racecourse & Casino in Vancouver, British Columbia, has reached a “definitive agreement” to sell the casino operation at the track, progressing to a final stage in making the sale.
Great Canadian Entertainment, the owner of the track and casino, said that the agreement to sell the casino to the Tsliel-Waututh Nation is still subject to “customary closing condition and approvals.” The two sides first signed a memorandum of understanding to explore the sale in June.
David Milburn, the president of the British Columbia Horsemen’s Benevolent and Protective Association, said on Tuesday that the sale is not yet expected to directly impact racing operations at the track.
“Right now, it’s business as usual,” Milburn said. “We met with management last week on dates for next year, and we expect to meet with them again. We are busy planning for next year.”
Great Canadian has reached deals over the past several years to sell two Vancouver Island gambling properties to another First Nations tribe, the Snuneymuxw. The property under Hastings is controlled by the City of Vancouver, which will need to approve the sale of the casino.
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