Colorado Springs – September 28, 2026 -- Century Casinos, Inc. (Nasdaq: CNTY) has agreed to sell the racing and gaming operations of Century Mile Racetrack and Casino in Edmonton and Century Downs Racetrack and Casino in Calgary to Highfield Investment Group for approximately $16.4 million, a 6.1x multiple of FY 2025 EBITDA.
Deal values Alberta racinos at CAD 23.2 million based on current exchange rates
The purchase price translates to CAD 23.2 million using the September 27, 2026 exchange rate of 0.7074 CAD/USD. Century Casinos owns 100% of Century Mile and a 75% stake in Century Downs, with noncontrolling partners holding the remaining 25% of the latter property.
VICI Properties master lease will be amended to remove both facilities
The underlying real estate for both properties is owned by subsidiaries of VICI Properties Inc. (NYSE: VICI) and leased to Century Casinos under a triple-net master lease. At closing, the lease will be amended to strip out Century Mile and Century Downs, with Highfield assuming tenant status and all associated rent obligations. The removal cuts Century Casinos' annual rent obligation by approximately $7.5 million, or CAD 10.7 million.
Company will apply sale proceeds toward debt reduction
Century Casinos plans to direct the transaction proceeds toward reducing outstanding indebtedness, a move expected to lower the company's lease-adjusted net leverage on a pro forma basis.
Executives frame divestiture as a pivot toward U.S. growth assets
Co-Chief Executive Officers Erwin Haitzmann and Peter Hoetzinger said the sale marks a step in the company's ongoing strategic review, concentrating resources on U.S. properties where they see the strongest growth opportunities. They added that the transaction improves financial flexibility and operational efficiency as the company focuses on its core U.S. assets.
Closing targeted for late 2026 or early 2027 pending regulatory sign-off
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. Macquarie Capital served as exclusive financial advisor to Century Casinos, while Field Law acted as legal counsel on the deal.