Century Casinos Sells Two Alberta Racinos for $16.4 Million

Century Casinos has agreed to sell Century Mile Racetrack and Casino and Century Downs Racetrack and Casino to Highfield Investment Group for about $16.4 million as it redirects resources toward its U.S. casino portfolio.

Good to Know

• Highfield Investment Group will pay about $16.4 million for the two Alberta racino operations.
• Century Casinos expects annual rent to fall by about $7.5 million after the deal closes.
• Century Casinos plans to use the sale proceeds to reduce debt and expects closing in Q4 2026 or Q1 2027.

Century Casinos Puts More Focus on US Casinos

The financial impact goes beyond the $16.4 million purchase price. VICI Properties subsidiaries own the real estate beneath both Alberta racinos, while Century Casinos currently leases the properties.

After closing, Highfield will take over the leases and associated rent obligations. Century Mile and Century Downs will then leave the existing Century Casinos master lease with VICI Properties. As a result, annual rent for Century Casinos will fall by around $7.5 million.

Co Chief Executive Officers Erwin Haitzmann and Peter Hoetzinger linked the Alberta casino sale directly to greater investment in the United States.

“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,” said Co-Chief Executive Officers Erwin Haitzmann and Peter Hoetzinger.

Century Casinos operates casinos in Colorado, Missouri, Nevada, West Virginia and Maryland. Meanwhile, the Canada segment generated $75.9 million in net operating revenue and $20.3 million in Adjusted EBITDAR during 2025.

Century Casinos owns all of Century Mile in Edmonton and holds a 75% interest in Century Downs near Calgary. Other investors hold the remaining 25% of Century Downs. The $16.4 million valuation equals 6.1 times FY 2025 EBITDA.

Proceeds from the Highfield deal will go toward debt reduction. Century Casinos also expects lower lease adjusted net leverage after completion.

Regulatory approvals and standard closing conditions remain outstanding. Century Casinos expects the Alberta racino transaction to close during the fourth quarter of 2026 or first quarter of 2027.

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