CENTURY CASINOS INC /CO/ (CNTY) Form 8-K — Sep 29, 2026
Century Casinos entered a definitive agreement on September 24, 2026 to sell its Century Mile (Edmonton) and Century Downs (Calgary) Alberta racinos to Highfield Investment Group for approximately $16.4 million (CAD 23.2 million), a 6.1x multiple of FY 2025 EBITDA. VICI Properties owns the underlying real estate; the VICI/Century master lease will be amended to remove the two properties, cutting Century's annual rent by roughly $7.5 million, with Highfield becoming the new tenant. The company plans to use proceeds to reduce debt and says the deal should lower pro forma lease-adjusted net leverage as it focuses on U.S. properties.
Key figures
- Deal Value Usd
- 16400000
- Cad usd rate
- 0.7074
- Ebitda multiple
- 6.1x FY 2025 EBITDA
- Company ownership
- 100% Century Mile, 75% Century Downs
- Purchase price cad
- CAD 23.2 million
- Annual rent reduction
- $7.5 million
- Adjustment escrow amount
- $700,000
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