In a historic transfer towards financial development and self-reliance, 5 Mi’kmaw communities in Nova Scotia have joined forces to enter the on line casino gaming business. Via their collective initiative, Indigenous Gaming Companions (IGP), the communities acquired Pure Canadian Gaming, an operator of 4 outstanding casinos in Alberta, together with areas in Edmonton, Calgary, and Lethbridge.
The communities concerned—Millbrook, Paqtnkek, We’koqoma’q, Glooscap, and Annapolis Valley—view this acquisition as a big leap in diversifying their income sources and increasing their financial attain. Michael Peters, chair of IGP and a Glooscap First Nation member, emphasised the significance of diversifying each geographically and industrially. “We’re making an attempt to not solely increase by diversifying to new industries … we’ve additionally diversified in our geography as nicely,” Peters acknowledged in response to CBC, highlighting Alberta’s distinct market in comparison with Nova Scotia’s.
A Path to Financial Independence
This strategic acquisition will present a sturdy supply of “personal supply income,” which refers to revenue generated independently of federal funding. Such revenues are essential for Indigenous communities working below self-governance agreements. The funds are earmarked for reinvestment in vital areas, together with housing, healthcare, social packages, and different neighborhood companies.
For Millbrook Chief Bob Gloade, the enterprise embodies financial reconciliation. “Our neighborhood, all our communities are going to be the direct beneficiaries of it,” he stated. Gloade anticipates that the monetary impacts will likely be seen inside a yr, noting that the present on line casino infrastructure and workforce are already in place, making the transition seamless.
Millbrook has a historical past of success in financial ventures, with over 70% of its neighborhood packages funded via independently generated income. Gloade sees this deal as an additional step towards monetary sustainability, stating, “That is simply one other piece of the pie that’s mainly going to assist our neighborhood develop financially.”
A Broader Imaginative and prescient for Enlargement
Whereas there are not any rapid plans to construct casinos in Nova Scotia, IGP is protecting its eyes open for alternatives throughout Canada. Peters talked about that the Mi’kmaq have been actively pursuing different ventures, comparable to buying shipyards, vitality initiatives, and seafood enterprises like Clearwater.
“Not solely is that this deal accomplished, however different Mi’kmaw communities in Nova Scotia have been getting collectively on doing offers,” Peters stated, underlining the collaborative spirit driving these initiatives.
The partnership is equally shared among the many 5 bands, guaranteeing all communities profit equally from the enterprise’s success. This balanced construction displays the collective dedication to fostering financial independence and creating sustainable development.
A Catalyst for Future Alternatives
The acquisition marks a brand new chapter for the Mi’kmaw communities, setting a precedent for additional large-scale financial initiatives. As Peters acknowledged, “The Nova Scotia Mi’kmaq are actually on the market to do quite a lot of enterprise, and that is simply one other instance of that.”
By entering into the bigger gaming business, these communities aren’t solely advancing their monetary stability but in addition making a mannequin of financial empowerment that may encourage comparable initiatives nationwide.
