Century Casinos to sell Century Mile and Century Downs racinos for about $23.2M
Highfield Investment Group will take over Alberta's two racetrack casinos, which are expected to keep operating after the sale closes.
Section
Racetrack casinos, horse racing funding tied to gaming, track openings and closures, and racing licences.
Highfield Investment Group will take over Alberta's two racetrack casinos, which are expected to keep operating after the sale closes.
The former Spectrum building, which held the old grandstand and casino, is the final structure left from the Northlands Park racetrack complex.
The five-year package lifts public support for horse racing to as much as $155 million a year while betting and attendance figures keep sliding.
Standardbred racing gets the largest share of the provincial top-up, with more than $14 million, followed by thoroughbreds and quarter horses.
A dispute over how to share the province's new $35 million a year held up the agreement, and breeders say the wait has already cost them.
The racino near Edmonton opened its spring and summer meet on May 2 with an eight-race card.
The local horsemen's association is seeking support for affected families, while a petition with more than 2,600 names asks the province to step in.
Hard Rock Ottawa and Ontario Racing say there is no sustainable path forward for the Ottawa track, which opened in 1962.
Century Mile and Century Downs had asked to convert their racing entertainment centre licences to casino licences with 10 tables each.
The Winnipeg thoroughbred track handled $75.2 million over the season, beating its previous high from 2020 by about $12 million.