Century Casinos agreed on September 28, 2026, to sell the racing and gaming operations at Century Mile near Edmonton and Century Downs near Calgary to Alberta-based Highfield Investment Group for approximately C$23.2 million. The transaction would give a local investment company control of two major Alberta racetrack and gaming operations, subject to regulatory approval.

The purchase price is approximately US$16.4 million. It represents 6.1 times Century’s fiscal 2025 EBITDA. Century said it plans to use the proceeds to reduce debt and focus more heavily on its United States operations.

What is changing

  • Century Mile Racetrack and Casino is near Edmonton.
  • Century Downs Racetrack and Casino is in Rocky View County, near Calgary.
  • Century owns all of Century Mile.
  • Century holds a 75% interest in Century Downs.
  • Non-controlling partners own the remaining 25% of Century Downs.
  • Century Casino St. Albert and Century Casino and Hotel Edmonton are excluded from the deal.

The properties are owned by subsidiaries of VICI Properties and leased to the operating companies. After closing, Highfield is expected to become the tenant and assume the related rent obligations.

Century said removing the two sites from its master lease would reduce its annual rent by approximately C$10.7 million. That gives the transaction a direct balance-sheet effect beyond the C$23.2 million sale price.

A buyer with deep racing ties

Highfield Investment Group is a privately held company based in Calgary. Its holdings include real estate, hospitality, agriculture, energy services and equine operations. The group also owns Highfield Stock Farm near Okotoks, a major Alberta thoroughbred breeding and training operation.

Adrian Munro, Highfield’s president, also serves as president of the Canadian Thoroughbred Horse Society. Standardbred Canada reported that Highfield helped develop Century Downs and had previously helped finance efforts to preserve the project’s gaming licence.

That background makes the transaction more than a straightforward casino portfolio sale. Highfield is acquiring gaming operations while also taking a direct position in Alberta’s horse-racing industry.

Munro told Standardbred Canada that the company wants both Standardbred and Thoroughbred racing to remain active at the two facilities. Standardbred Canada also reported that Highfield expects existing staff to remain in place and is considering rebranding the facilities.

Approval still stands between agreement and ownership

The sale is expected to close in the fourth quarter of 2026 or the first quarter of 2027. The agreement remains conditional on customary closing requirements and regulatory approvals.

In Alberta, the Alberta Gaming, Liquor and Cannabis Commission regulates gaming registrants and lists Century Mile as a Racing Entertainment Centre. Changes in ownership or control must be reported and reviewed under the province’s gaming rules.

The proposed transfer involves both casino gaming and horse-racing operations, so the regulator’s review is separate from Century’s role as operator, Highfield’s role as buyer and VICI’s role as property owner. The transaction cannot formally transfer control until the required provincial approvals are in place.

Why the deal matters

The agreement creates a clearer local ownership story for two facilities that connect racing, casino gaming and regional entertainment. It also leaves Century with two Alberta casino properties, so the company is not exiting the province entirely.

For Century, the sale is a debt-reduction and cost-cutting move. For Highfield, it is a bet on the long-term role of racing in Alberta.

The practical test begins after approval: Highfield will need to manage gaming compliance, racing schedules, staffing, rent obligations and player-protection duties under Alberta’s regulatory framework.

Any rebranding or staffing changes remain subject to approval and the formal transfer of ownership. Until then, the announced deal changes the proposed operator, not the facilities’ current legal status.