A Canadian casino’s operation has changed hands this week – Century Casinos subsidiary Century Resorts Alberta signed an agreement to sell the Century Casino Calgary operation to a consortium known as 2267166 Alberta for US$7.5m.
The seller will continue to own the building, leasing it to the buyer. Said Century co-CEOs Erwin Haitzmann and Peter Hoetzinger, in a statement: “The transaction immediately strengthens our balance sheet.
“The Calgary casino is one of our smaller operations, contributing C$8.4m in net operating revenue and C$1.2m in adjusted EBITDA in 2019.” The deal is expected to close later this year, subject to approval from the local gambling authorities.
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