Century Casinos agrees to sell Century Mile, Century Downs racinos to Highfield for $16.4 million
CNTY•Century Casinos agreed to sell Century Mile in Edmonton and Century Downs in Calgary to Highfield Investment Group for $16.4 million, with closing targeted for Q4 2026 or Q1 2027.
1. Sale terms
The $16.4 million price equals CAD 23.2 million at a 0.7074 CAD/USD exchange rate and values the assets at 6.1 times FY 2025 EBITDA. Century Casinos owns all of Century Mile and 75% of Century Downs; minority partners own the remaining 25%.
2. Lease changes
VICI Properties owns the underlying real estate. The master lease will be amended to shift tenant obligations to Highfield, and annual rent under the lease is expected to fall by about $7.5 million.
