CL Talk

Why Indigenous equity and gaming M&A in BC will set a precedent across the country

Jan 27, 2026

In this episode of CL Talk, Canadian Lawyer managing editor Tim Wilbur sits down with McCarthy Tétrault partner Pavan Jawanda to unpack a seismic shift in British Columbia’s gaming sector: First Nations moving from revenue-sharing arrangements to equity ownership and operational control of major casino assets. Jawanda, who has advised on the first seven First Nations casino M&A deals in BC, discusses how these transactions differ from conventional deals, why they require building timelines backwards from regulatory approvals, and how a generational investment horizon changes governance, risk, and community consultation. He also outlines how this Indigenous ownership model in gaming could influence deals in other regulated industries across Canada, including infrastructure and energy, as well as real estate.