The Tsleil-Waututh Nation says it has reached a preliminary deal to purchase the casino business and related real estate at Hastings Racecourse and Casino in Vancouver from Great Canadian Entertainment, the country's largest gaming and hospitality company.

The First Nation announced Friday that it has signed a non-binding memorandum of understanding with the company and is now working toward a formal agreement.

"We are thrilled to take another important step towards economic self-determination fo…