Highfield to Acquire Century Downs, Century Mile Tracks

Highfield Investment Group announced Sept. 28 it has entered into an agreement to acquire Century Casinos' Racing Entertainment Centre's Century Mile Racetrack in Edmonton and Century Downs near Calgary, Canada, expanding the company's footprint in gaming, hospitality, and racing entertainment. The transaction does not include Century Casinos' other Alberta casino properties. Highfield is a diversified Alberta-based investment and development company with nearly 50 years of experience creating long-term value across multiple industries, including real estate, hotel and hospitality, agriculture, property management, and energy services. The company also brings more than 20 years of experience in Thoroughbred breeding, ownership, and racing operations in Western Canada. Highfield Stock Farm is a part of Highfield Investment Group. The 1,000-acre farm founded by David Munro in 2004 is near Okotoks, Alberta. The farm has been recognized as the leading breeder of Alberta-bred runners by earnings in 2016, 2015, 2013, and 2010. Munros was honored by the Thoroughbred Owners and Breeders Association as the Canadian Breeder of the Year Award for accomplishments of 2016. Highfield Stock Farm stands Tapiture, who as of Sept. 28 is Canada's leading sire with nearly $4.8 million in progeny earnings. The son of Tapit also is leading the country's sire ranks by number of black-type performers with 11. The racetrack acquisitions add established racing entertainment assets in a sector that continues to carry meaningful provincial economic impact. A 2019 study found Alberta's horse racing industry contributed $311.7 million in total economic impact, including $157.1 million in direct expenditures while supporting 1,506 full-time equivalent jobs across the province. Both racetracks operate Thoroughbred, Quarter Horse, and Standarbred meets. "We see strong long-term potential in these operations and believe they are an excellent strategic fit with our experience in hospitality, operations and horse racing," said Adrian Munro, president of Highfield Investment Group. "We are making a significant investment in Alberta because we believe in the continued growth of this business and in the long-term value it can create." Munro added that Highfield's principals are appreciative of Century Casinos' role in Alberta's racing sector. "We are thankful to Century Casinos for its significant investment in Alberta's horse racing business and for the platform it has established," he said. Munro leads Highfield's strategic direction and diversified operations and serves as president of the Canadian Thoroughbred Horse Society. He is joined by Paul Ryneveld, vice president of racing entertainment centers, a veteran racing and gaming executive with 38 years of experience in North American horseracing, track operations, racetrack redevelopment and regulatory environments. The transaction is subject to customary closing conditions and regulatory approvals.