American company Century Casinos, Inc announced that they have signed credit and management agreements with United Horsemen of Alberta Inc. (“UHA”) in connection with the development of a proposed race track and entertainment center in Balzac, north metropolitan area of Calgary.
The proposed project would be the only horse race track in the Calgary area and would consist of a 5.5 furlongs (0.7 miles) race track and a Racing Entertainment Centre, including a gaming floor proposing 625 gaming machines, a bar, a lounge, restaurant facilities, an off-track-betting area and an entertainment area. This Racing Entertainment Centre license is the only license still available in any metropolitan area of Alberta. This particular license application pre-dates the Alberta Gaming and Liquor Commission recently approved three-year moratorium on new Casinos and Racing Entertainment Centers, with an option to extend the moratorium for an additional two years.
The proposed project would be located less than one mile north of the city limits of Calgary and 4.5 miles from the Calgary International Airport. The Company anticipates that the race track and entertainment center would be completed 12 to 18 months following completion of the approval process.
Century Casinos, Inc. is an international casino entertainment company that owns and operates Century Casino & Hotels in Cripple Creek and Central City, Colorado, and in Edmonton, Alberta, Canada and the Century Casino in Calgary, Alberta, Canada. The Company also operates casinos aboard twelve luxury cruise vessels. They also operated eight casinos in Poland and one in Aruba in the Caribbean.