Century Casinos is selling the gaming operations of Century Mile Racetrack and Casino in Edmonton and Century Downs Racetrack and Casino in Calgary, Alberta, to Highfield Investment Group for $16.4m. The transaction is expected to close in Q4 2026 or Q1 2027 pending regulatory approvals.
Century owns 100% of Century Mile and 75% of Century Downs; the remaining 25% stake in the latter is held by minority partners. Real estate at both properties is owned by VICI Properties subsidiaries and leased under triple-net agreements. Following the sale, Century Mile and Century Downs will be removed from Century's master lease with VICI, with Highfield stepping in as tenant. Century's annual lease obligation will drop by around $7.5m.
Proceeds will go toward debt reduction. The deal is expected to lower Century's rent-adjusted leverage by approximately one percentage point.
Co-founders and co-CEOs Erwin Haitzmann and Peter Hoetzinger said the sale is part of a strategic portfolio review aimed at concentrating resources on US assets, where the company sees the strongest growth potential. The transaction improves financial flexibility and operational efficiency, they added.
