Century Casinos has agreed to sell Century Mile Racetrack and Casino in Edmonton and Century Downs Racetrack and Casino in Calgary.
Highfield Investment Group will acquire the operations for approximately C$23.2 million. The deal is expected to close in the fourth quarter of 2026 or the first quarter of 2027, subject to regulatory approvals and other closing conditions.
Erwin Haitzmann and Peter Hoetzinger, co-CEOs of Century Casinos, explained:
As part of our ongoing strategic review process, the sale of Century Mile and Century Downs racinos is an important step towards concentrating our resources on our U.S. properties, where we see the strongest opportunities for growth.
Century Casinos plans to use the proceeds to reduce debt and lease-adjusted net leverage. The company also expects the transaction to lower annual rent by around $7.5 million.
The sale does not include Century Casino St. Albert or Century Casino & Hotel in Edmonton. However, Hoetzinger said there is strong interest from other parties in acquiring those two properties.
Century Casinos has also confirmed that it does not plan to enter Alberta’s new commercial iGaming market.