Century Casinos Agrees to Sell Alberta Racino Operations to Highfield Investment Group for $16.4 Million

Century Casinos is selling the racing and gaming operations of its two Alberta properties to Highfield Investment Group. The deal covers Century Mile Racetrack and Casino in Edmonton and Century Downs Racetrack and Casino in Calgary.

The company owns 100 percent of Century Mile and a 75 percent interest in Century Downs. The real estate for both sites is held by subsidiaries of VICI Properties under an existing triple-net master lease. As reported by G3 Newswire, subsidiaries of Century Casinos and VICI Properties will amend the Master Lease to remove these locations upon closing. Highfield Investment Group will become the new tenant and assume the associated rent obligations. The amendment will reduce Century Casinos’ annual rent by approximately $7.5 million.

Proceeds from the $16.4 million sale will be used to reduce indebtedness. The transaction is expected to lower the company’s lease-adjusted net leverage on a pro forma basis. Erwin Haitzmann and Peter Hoetzinger, Co-Chief Executive Officers of Century Casinos, stated that the sale advances the company’s strategic review. “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,” they remarked. “This transaction improves our financial flexibility and operational efficiency as we focus on our core US assets.”

The transaction is expected to close in the fourth quarter of 2026 or the first quarter of 2027, subject to customary regulatory approvals and closing conditions.

Lease Transfer Mechanics

The Master Lease amendment removes Century Mile and Century Downs without affecting the remaining portfolio. Highfield Investment Group steps in as tenant for the VICI Properties assets and takes on the rent directly. This produces a clear $7.5 million annual cost reduction for Century Casinos while preserving the triple-net structure on other holdings.

Financial Flexibility Gains

Directing the full $16.4 million toward debt reduction, combined with the rent relief, delivers measurable balance-sheet improvement. The pro forma drop in lease-adjusted net leverage supports the stated priority of allocating resources to U.S. operations where growth prospects are strongest. Operators facing similar portfolio reviews may note the direct linkage between asset sales, lease adjustments, and leverage metrics in this execution.

Reporting: G3 Newswire

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