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A First Nation on Vancouver Island is all in on the casino business in B.C., announcing its fifth purchase in the province this year. 

The Snuneymuxw First Nation says it has an agreement to purchase the Coquitlam, B.C., venue owned by the Great Canadian Casino Vancouver.

Snuneymuxw Chief Mike Wyse says the acquisition of the new casino marks another step toward “economic self-determination” for the nation, strengthening their financial independence and restoring an economy that thrived for thousands of years.

“We’ve got a lot of opportunities. Housing and health and wellness is No. 1 for sure. You know, we want to house our people,” Wyse said at a news conference, when asked what the casino revenue would be used for.

A statement from the nation says it’s honoured to expand its economic portfolio, with gratitude for efforts from generations of Snuneymuxw who helped make this purchase possible. 

Ian Simpson, CEO of Petroglyph Development Group, the nation’s economic branch, says the Great Canadian Casino Vancouver has long been an important driver of the Coquitlam economy, and they will ensure those benefits continue. 

The casino in Coquitlam in Metro Vancouver has 917 slot machines, 37 table games and 42 electronic table games.

The transaction’s closing is subject to customary conditions and the receipt of all required regulatory and third-party approvals, including those under the Competition Act.

Snuneymuxw First Nation is one of the largest in B.C., with a population of about 2,000 members.Â