Century Casinos Inc. Announces Sale of Two Alberta Racino Operations for ~$16.4M

What Happened

• Century Casinos, Inc. announced on Sept. 24, 2026 that its subsidiary entered into a Share Purchase Agreement to sell the racing and gaming operations of Century Mile Racetrack and Casino (Edmonton) and Century Downs Racetrack and Casino (Calgary) to Racing Entertainment Centre Holdings Inc. (parent: Highfield Investment Group Inc.) for approximately $16.4 million, subject to a working capital adjustment.
• The properties’ real estate is owned by VICI Properties subsidiaries and leased under Century’s master triple‑net lease; at closing the master lease will be amended to remove these properties and Highfield will assume the tenant/rent obligations. Century expects the sale to reduce its annual rent by about $7.5 million (using USD/CAD = 0.7074 as of Sept. 27, 2026). The company intends to use proceeds to reduce indebtedness. The transaction is expected to close in Q4 2026 or Q1 2027 and is subject to customary conditions, including gaming regulatory approvals.

Key Details

• Sale price: approximately $16.4 million, subject to working capital adjustment.
• Rent impact: annual rent reduction of roughly $7.5 million after removal of the properties from the VICI master lease.
• Ownership: Century owns 100% of Century Mile Inc. and 75% of United Horsemen of Alberta Inc. (Century Downs); other partners hold 25% of Century Downs.
• Timing & conditions: expected close in Q4 2026 or Q1 2027; subject to gaming regulatory approvals, customary reps/warranties and closing conditions, and termination rights if not closed within 365 days.

Why It Matters

• This divestiture removes two Canadian operating properties from Century’s lease obligations and will materially lower annual rent expense (~$7.5M), which should improve cash flow available to pay down debt per the company’s stated plan.
• The transaction reduces Century’s Canadian operating footprint and is contingent on regulatory approvals and customary closing conditions, so it is not final until closing.
• Investors should note the company filed a related press release (Exhibit 99.1) and that the purchase agreement contains standard contractual representations and qualifications that are for the parties’ benefit and not guarantees of factual detail.