Century Downs Casino and racetrack in Calgary sold to Highfield Investment Group
The sale for approximately $23.2 million is expected to close in late 2026 or early 2027, with both properties continuing operations under new ownership.
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Century Downs Racetrack and Casino, located just north of Calgary, has been sold to Highfield Investment Group in a $23.2 million deal announced Monday.
The sale also includes Century Mile Racetrack and Casino near Edmonton. Century Casinos, which owns the properties, is using the proceeds to pay down debt. The company expects the sale to reduce its annual rent costs by approximately $10.7 million.
Closing is expected in the fourth quarter of 2026 or first quarter of 2027, pending regulatory approvals and other standard closing conditions. Both properties are expected to continue operating under Highfield after the transaction completes. Highfield will take over existing leases with VICI Properties, which owns the land and buildings for both sites.
Century Casinos co-CEOs Erwin Haitzmann and Peter Hoetzinger said in a statement: "The sale of Century Mile and Century Downs racinos is an important step towards concentrating our resources on our U.S. properties."
Century Casinos retains two other Alberta properties: Century Casino & Hotel in Edmonton and Century Casino in St. Albert, both of which were not part of this sale. The company owns 100 per cent of Century Mile and holds a 75 per cent stake in Century Downs, with other partners holding the remaining 25 per cent.
The sale comes as Alberta's gambling market has expanded significantly. In July 2026, the province legalized online gambling and opened the market to dozens of new operators, a move that was flagged by addiction experts as creating potential risks. Highfield's acquisition of the two large casino-racetrack operations positions the company as a significant player in Alberta's evolving gambling landscape.
The facts
How much did Highfield Investment Group pay for Century Downs and Century Mile?
Highfield Investment Group purchased Century Downs Racetrack and Casino near Calgary and Century Mile Racetrack and Casino near Edmonton for $23.2 million.
When is the sale expected to close?
The sale is expected to close in the fourth quarter of 2026 or first quarter of 2027, pending regulatory approvals and standard closing conditions.
How much will Century Casinos save annually from this sale?
Century Casinos expects the sale to reduce its annual rent costs by approximately $10.7 million.
