Saturday, September 20, 2014
Text Size

Eagle River Casino Near Edmonton May Close Due To Bankruptcy

published by Gary Parkinson

Gamblers in Edmonton and its surrounding areas may have one less casino to place their bets before the end of February. The Eagle River Casino, on the Alexis Nakota Sioux First Nation located northwest of the Alberta capital, is in bankruptcy court attempting to restructure its debts.

According to the casino’s own financial statements, there are more liabilities owed to creditors than there are assets at the gambling entertainment centre. The casino, along with the hotel and other onsite services are worth approximately $57 million, but operators owe up to $100 million.

Most of the liabilities are owed to a private equity firm, but there is also a sizeable debt owed to the CEO of Paragon Gaming – the Las Vegas gambling firm owns a 40 percent stake in Eagle River. All cash reserves will be depleted before the end of the Olympics unless a new debt repayment plan can be agreed to.

Eagle River holds a gambling license with the Alberta Gambling and Liquor Commission, though the casino was founded by First Nations peoples to create jobs on the reserve as well as to provide a popular tourist destination. Spokespeople for the AGLC say the bankruptcy meetings have no impact on the gambling license, and that “the casino remains open to customers” for the time being.

Yale Belanger, an associate professor with expertise in First Nations gaming, believes the casino will remain operational despite the court motion. However, he is concerned that it will impact how businesses are willing to invest in First Nations casinos and other ventures.

“People will take a look at this and they may raise eyebrows at yet another First Nations operation that in their minds is not operating quite up to snuff.”

The fallout from a defunct casino could potentially encourage the Alberta government to regulate an online casino similar to other provinces.

Whatever Trevor

Dis is Trevor.

Education & Training

Blast from the past: FP archive

When is Consultation, Consultation?

Ovide Mercredi

National Chief – AFN

During a Treaty Roundtable meeting of the Alberta Chiefs, I took note of a federal government document outlining their strategy to define and ultimately impose their own form of self-government. Read more...

Letting go of residential schools

by Gilbert Oskaboose, Nov 1993 First Perspective

There is a lot of "unfinished business" in Indian Country. Garbage that we as a people have never really dealt with. Chief among them is the whole issue of those infamous residential schools and their impact on people. Read more...


obidiah picture

ANALYSIS - Bill Gallagher

gallagher picture

Under the Northern Sky by Xavier Kataquapit

Under the Northern Sky by Xavier Kataquapit


Regional Media Officer– Temp (Until Nov 2015) –F/T Position

Office of the Leader of the Official Opposition / NDP Research Office

Location:131 Queen Street, Suite 10-02, Ottawa, ON


Communicate regularly with regional media outlets (community newspapers, radio stations, student media, ethnic media, etc.) to propose ideas for interviews and opinion content Read more...

Canadian Chamber of Commerce Aboriginal Workforce Report

The Canadian Chamber of Commerce released a report that highlights initiatives to improve the workforce participation of Aboriginal peoples. 

Opportunity Found: Improving the Participation of Aboriginal Peoples in Canada’s Workforce (December 2013)  

click image to download report

Tue Sep 23 @ 3:00PM - 04:15PM
FNHMA National Conference 2014
Sun Oct 05 @ 9:00AM - 05:00PM
INIHKD & Manitoba NEAHR Conference 2014


September 2014
31 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 1 2 3 4

Current Video

RIP Percy Tuesday


Thanks to Althea Guiboche for allowing The First Perspective to share her video taken at the Manitowapow book launch at McNally Robinson. 

Percey sings Freddy Fender's "Wasted Days and Wasted Nights" and people join in to harmonize. 

Last Week Tonight with John Oliver (HBO): The Washington Redskins