As part of an effort to trim its international portfolio and generate value for investors, Century Casinos (NASDAQ: CNTY) announced today that it is selling the operating rights to Century Mile Racetrack and Casino in Edmonton, Alberta and Century Downs Racetrack and Casino in Calgary, Alberta to Highfield Investment Group for $16.4 million.

That acquisition price represents a multiple of 6.1x of the venues’ 2025 earnings before interest, taxes, depreciation and amortization (EBITDA).  Colorado-based Century, which said last year it would explore strategic alternatives , owns 100% of Century Mile while controlling a 75% stake in Century Downs.

Century said proceeds from the transaction, which is expected to close in the fourth quarter or the first quarter of 2027, will be used to pare debt.

Calgary-based Highfield is a privately held entity that invests in various segments, including “real estate development, land management, commercial and industrial properties, hospitality, energy services, and thoroughbred operations,” according to its website.

On another weak day for gaming equities, shares of Century dipped 3.64% on news of the Canadian asset sales, extending a slide in which the gaming stock has shed 58% of its value over the past year. Still, fetching $16.4 million for the Alberta venues is a solid move for a company with a market capitalization of just under $31 million and it’s a step toward the operator focusing entirely on its U.S. portfolio .

With today’s announcement, Century still has namesake venues in Edmonton and St. Albert it could eventually part ways with to clean house in Canada and raise additional cash.

Investors likely want to see some action regarding Century’s two-thirds stake in Casinos Poland , a sale of which has been discussed for several years with no transaction materializing as of yet. The operator has consistently said it’s open to divesting that investment.

Not only does Century lean its portfolio by selling Century Mile Racetrack and Casino and the Calgary racino, it comes out from under $7.5 million in annual rent obligations it was paying to landlord VICI Properties (NYSE: VICI) .