Century Casinos announced on Monday it will sell the racing and gaming operations at two of Alberta’s most prominent racetracks as it looks to reduce its debt and focus on its U.S. gaming operations.
The Colorado-headquartered operator has agreed to sell the operations at Century Downs Racetrack and Casino in Calgary and Century Mile Racetrack and Casino in Edmonton to Highfield Investment Group for approximately US$16.4m (C$23.2m), which the company said represents a 6.1x multiple of FY 2025 EBITDA.
The racinos sale is expected to close in the fourth quarter of 2026 or the first quarter of 2027, subject to all customary regulatory approvals and closing conditions.
