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Century Casinos to build C$50M racing venue in Alberta, Canada

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Century Casinos to build C$50M racing venue in Alberta, Canada

Century Casinos Inc. received the go-ahead from the Alberta Gaming and Liquor Commission for its proposed Century Mile Racing Entertainment Centre project near Edmonton in Alberta, Canada.

The project, on Edmonton International Airport land, has an estimated cost of approximately C$50.0 million, with construction expected to take approximately 15 months, subject to the receipt of development and other permits, the company said in a release.

The company said it was selected by Horse Racing Alberta to own, build and operate the facility. The venue's multilevel racing entertainment center will include a gaming floor with an initial 550 slot machines. The facility will have a one-mile horse racetrack, an off-track betting area and parking space, among other features.

Century Casinos is seeking funding for the project and expects to use a combination of available cash, bank borrowings, project financing, joint venture or other debt or equity financing to fund the project, according to the release.