Century agrees Canadian racetrack sale as VICI prepares new tenant lease

Century Casinos ($CNTY) has signed an agreement to sell the operations of Century Mile and Century Downs in Alberta to Highfield Investment Group for C$23.2 million, approximately US$16.4 million. Century plans to reduce indebtedness and concentrate on its U.S. business. The sale covers operating interests, not the underlying real estate, which remains owned by VICI Properties ($VICI).

Alongside the disposal, VICI has agreed to replace the relevant portion of Century’s master lease with a new 20-year Highfield lease. Initial annual rent is C$10.7 million, with a matching reduction in Century’s lease payments; VICI’s aggregate rent therefore remains unchanged. Both companies expect completion in the fourth quarter or first quarter of 2027, subject to regulatory approvals and customary conditions. The arrangements have not yet closed.

Sources:

• Century company release via PR Newswire / StockTitan
• VICI company release — Business Wire
• VICI timestamped distribution