Gaming aligned with Glooscap’s 
investment philosophy which targeted 
established businesses with experi-
enced management and the capacity 
to generate long-term own-source 
revenue. The intention was not to 
acquire, restructure and sell. It was to 
own for the future. “We talk about Seven 
Generations,” explains Michael Peters, 
CEO of Glooscap Ventures. “We’re not 
in the business of buying companies, 
fixing them up and flipping them. We 
buy companies and hold them for the 
long term.” 
The First Nations Finance Authority was 
a financing partner on both deals; the 
five First Nations and Sonco Gaming 
also had to remain aligned and keep 
pace with a live transaction. Taking 
Gamehost private added an additional 
layer of complexity. In a related transac-
tion, VICI Properties acquired the real 
estate assets of Deerfoot Inn & Casino, 
Great Northern Casino and the two 
adjacent Grande Prairie hotels, adding 
them to its master lease with PURE 
Casino Entertainment.
The acquisitions were ambitious but not 
wholly unprecedented in the Indigenous 
business world. In fact, Peters says the 
Mi’kmaq Coalition’s 2021 acquisition 
of 50 per cent interest in Clearwater 
Seafoods, alongside Premium Brands, 
showed him that an Indigenous-led 
group could complete a transaction 
of comparable ambition. “We knew it 
could be done, and we drew a lot of 
courage from seeing another Nation 
in our region do it,” he says. 
Precedent matters. It shows that Nations 
combining capital, governance and 
expertise can pursue opportunities that 
would be difficult to reach indepen-
dently. For Glooscap, partnerships multi-
plied the capacity behind the ambition, 
making a larger opportunity attainable 
while keeping the benefits connected 
to community.
EXPANDING INDUSTRIAL BASE
For its part, Mikisew Group has grown by 
adding capabilities around its original 
industrial base. Over the past five years, 
the company has increasingly measured 
success through both economic returns 
and social impact, with the latter making 
the work especially meaningful. “The 
marrying of those two is what I find really 
powerful,” says Mikisew Group CEO Jeff 
Epp. “Our purpose is to create long-
term prosperity for Mikisew Cree First 
Nation, so every investment is evalu-
ated through that lens.” 
That approach is informed by plan-
ning that was developed with Mikisew’s 
board of directors, including repre-
sentation from the Chief and Council. 
“Together, we’ve focused on identifying 
where Mikisew Cree First Nation wants 
to be, not just today, but 10, 20 and 
even 30 years into the future,” Epp says. 
“We start by asking what our commu-
nity needs and where we can make the 
greatest impact. From there, we look for 
business opportunities that align with 
those priorities while also delivering 
strong financial returns.”
A defining step in that evolution was 
Mikisew’s 2019 acquisition of Guthrie 
Industrial Services Ltd. and Guthrie 
Mechanical Services Ltd. The orga-
nizations had worked together since 
forming the Mikisew Guthrie Limited 
Partnership in 2017, providing Mikisew 
with direct experience with the busi-
ness before completing the acqui-
sition. The legacy operations later 
became Mikisew Field Maintenance 
and Mikisew Maintenance Limited. 
Before the acquisition, Epp says 
Mikisew’s wholly owned operations 
were more heavily centred on equip-
ment operation and labour supply. 
Guthrie added consolidated facilities 
maintenance, mechanical services, 
lifting and tool-repair capabilities to 
their services, along with an experi-
enced skilled-trades workforce.  
“Strategically, the acquisition was trans-
formational because it introduced 
skilled trades into our organization,” 
says Epp. “It expanded the career 
opportunities we can offer Mikisew citi-
zens — from entry-level labour positions 
and equipment operation to appren-
ticeships, certified trades, project 
management, and leadership roles. 
That’s a much more complete employ-
ment pathway than we had before.” 
Accessing those pathways still 
presented practical barriers. Workers 
entering apprenticeships may face 
a temporary reduction in earnings, 
which can be especially difficult for 
those supporting families. Mikisew’s 
wage top-up and classroom-support 
programs are intended to reduce that 
financial burden. 
Indigenous BUSINESS REPORT   35
BUSINESS EXPANSION
“You can do very large projects without 
being a large community with extensive 
resources. Glooscap is the third-smallest 
community in Nova Scotia, yet we’re 
undertaking some of the largest projects in 
the region. We want other communities to 
see that it can be done.”
Michael Peters, Glooscap Ventures

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