Two Alberta casinos and horse racing tracks are being sold to a new owner

Two casinos in Alberta are getting a new owner.

Century Mile Racetrack and Casino in Edmonton and Century Downs Racetrack and Casino in Calgary are being sold to Highfield Investment Group for approximately $23.2 million.

Century Casinos, which currently operates both properties, announced the sale on Monday, Sept. 28.

The deal is expected to close in the fourth quarter of 2026 or the first quarter of 2027, pending regulatory approvals and other closing conditions.

So, what does this mean for the two casinos?

For now, not much is changing. There have been no announcements about either property closing, and both are expected to continue operating under Highfield once the sale goes through.

Century Mile, located near Edmonton International Airport, features a casino and horse racing track, while Century Downs, just north of Calgary, also offers casino gaming and horse racing.

Century Casinos owns 100 per cent of Century Mile and a 75 per cent stake in Century Downs. The remaining 25 per cent of Century Downs is owned by other partners.

The land and buildings for both properties are owned by VICI Properties and leased to Century Casinos.

As part of the sale, Highfield will take over the leases for the two properties and become responsible for the rent going forward.

For Century Casinos, the sale is part of a larger plan to focus on its properties in the U.S.

The company said it plans to use the money from the sale to pay down debt. It also expects the deal to reduce its annual rent costs by approximately $10.7 million.

“The sale of Century Mile and Century Downs racinos is an important step towards concentrating our resources on our U.S. properties,” Century Casinos co-CEOs Erwin Haitzmann and Peter Hoetzinger said in a statement.

The company is not leaving Alberta entirely, however. Century Casinos also operates Century Casino & Hotel in Edmonton and Century Casino in St. Albert, which are not included in the sale.