BC’s first gaming M&A deal with First Nations as acquirer could be precedent: McCarthy Tétrault

He says the deal went smoothly, and its finalization didn’t take longer than expected from both sides. The key consideration was coordination with the regulators.

You need to “ensure that [the gaming regulators] are getting the information they need … and vice versa, because regulatory approvals are usually the largest item in these transactions just because it is a very rigorous and robust process,” he says.

Apart from regulatory coordination, the deal required collaboration across multiple legal teams.

Other key legal teams involved in the deal included mergers and acquisitions, financing, zoning, real estate, labour and employment, pensions, intellectual property, commercial, environmental, competition, and tax.

Sustaining Growth

The acquisition was partly financed by the First Nations Finance Authority (FNFA), which provides long-term loans to First Nations for economic development.

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