WASHINGTON (dpa-AFX) - Century Casinos, Inc. (CNTY), announced on Monday that it 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 about $16.4 million.
Century said the deal represents a 6.1x multiple of fiscal 2025 EBITDA. The company owns 100% of Century Mile and 75% of Century Downs, with partners holding the remaining 25%.
The real estate is owned by VICI Properties Inc. (VICI) and leased under Century's master lease. Following closing, Highfield will assume the rent obligations, reducing Century's annual rent by about $7.5 million.
The transaction is expected to close in the fourth quarter of 2026 or the first quarter of 2027.
On the Nasdaq, shares of Century Casinos are currently losing 0.45 percent, changing hands at $1.0950
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