The official sale of Vancouver's Hastings Casino to the Tsleil-Waututh Nation (TWN) was announced by Great Canadian Entertainment.

In order to transfer title of the property back in June, the two parties signed a memorandum of understanding. They announced on Monday that they had come to a firm agreement. TWN is buying the Hastings Racecourse & Casino's casino division as well as the casino-related real estate holdings.

One of the Coast Salish communities residing in British Columbia, Oregon, and Washington is Tsleil-Waututh Nation, also referred to as People of the Inlet, a First Nation band government.

The live racing season at East Vancouver's Hastings Racecourse & Casino runs from spring through fall. Simulcast horse racing from international racetracks is another option. The year-round casino has 400 slot machines, including traditional reels, flashier video slots with progressive jackpots, blackjack, roulette, and craps, as well as a poker area with frequent tournaments. Eclipse is a tiny sports lounge where you can wager on games.

“We are excited about this next step towards economic self-determination for our Nation in our traditional territory, which will bring benefits to our community and the next seven generations,” said Chief of səlilwətaɬ (Tsleil-Waututh Nation) Justin George. “I am grateful to our current and previous səlilwətaɬ leadership, as well as our Chief Administrative Officer (CAO), Chief Financial Officer (CFO), and Economic Development Department, for advancing and solidifying this opportunity.”

The deal still requires approval from the City of Vancouver

Closing conditions and regulatory approvals, including those from regulatory bodies and the City of Vancouver, which owns the Hastings Park real estate, are necessary for the sale to be finalized.

"It has been an honor to steward the casino at Hastings Racecourse & Casino for over 20 years, and we recognize the important role this transaction plays in TWN’s economic self-determination,” said Great Canadian Entertainment CEO Matt Anfinson. “We will now dedicate our efforts to a successful close of this transaction, as well as supporting the Tsleil-Waututh Nation thereafter.”

Great Canadian Entertainment has been actively selling its casino assets in British Columbia to a number of First Nations.