Tsleil-Waututh Nation (TWN) is pursuing the acquisition of a longstanding revenue-generating asset rooted in Hastings Park in Vancouver.

On Friday, the First Nation announced it has entered into a non-binding memorandum of understanding with Great Canadian Gaming Corporation for an agreement in principle to acquire the “casino business and related real property interests” at Hastings Racecourse & Casino.

This appears to signal that Great Canadian does not intend to pursue a renewal of its lease to operate the racecourse and casino at the site. The company’s lease began in 2004 and is set to expire next year.

Upon inquiry, the City of Vancouver told Daily Hive Urbanized today that Great Canadian’s current operating agreement runs until May 2026, with an additional five-year renewal option subject to mutual consent.

“Great Canadian Gaming Corporation is the operator of Hastings Racecourse and the City cannot disclose specifics of operating agreements,” the City stated.

As the property is owned by the City, this could trigger potential lease negotiations between the municipal government and the First Nation regarding the site’s future use beyond May 2026.