On December 10, 2024, Indigenous Gaming Partners ("IGP") successfully acquired PURE Canadian Gaming (PURE) from ONCAP, the mid-market private equity platform of Onex. Supported by VICI Properties Inc., the transaction was finalized following regulatory approvals from Alberta Gaming, Liquor & Cannabis (AGLC) and the Canadian Competition Bureau.
This acquisition marks a significant milestone for IGP, allowing the newly established gaming company to enter the gaming industry at scale. IGP was established by five Nova Scotia-based First Nations—Glooscap First Nation, Millbrook First Nation, Annapolis Valley First Nation, We’koqma’q L’nue’kati, and Paqtnkek Mi’kmaw Nation—in partnership with Sonco Gaming Inc., a leader in Indigenous-owned casino development and management.
This landmark acquisition represents an important step toward economic reconciliation and demonstrates the potential for meaningful partnerships in Indigenous gaming.
Fasken advised IGP with a team led by Gesta Abols, which included Evan Conover, ZiChen Gao, Kathryn McCoy, Carter Lindsay (Capital Markets and Mergers & Acquisitions); Daniel Leslie (Banking and Finance); Antonio Di Domenico, Robin Spillette (Competition, Marketing and Foreign Investment); Jonathan Halwagi (Investment Management); Andrew Dixon (Labour, Employment and Human Rights); Paul Logan (Real Estate); Paul Casuccio, Kevin Yip and Sabrina Jackson-Nazareth (Tax Law).
Jurisdiction
- Canada
