Century Casinos has decided not to pursue an Alberta iGaming licence, despite operating four brick-and-mortar casinos in the province. Instead, the company is focusing on possible divestiture of its Alberta properties.
As reported in July, Alberta’s regulated iGaming market had just opened and was already drawing new entrants. The field now has more than 30 providers, and the province expects about C$76 million in tax revenue in the first year.
On Century’s second-quarter earnings call, co-CEO Peter Hoetzinger said the company is looking at options to possibly sell two casinos and two racino properties in Alberta. He said Century had the ability, as a retail casino, to register for an Alberta iGaming licence and run its own private platform, but was not planning to do so.
The company still expects to offer retail sports betting at its Alberta properties. Hoetzinger said that could become a branding opportunity with an existing online partner, and The Lines said it could also evolve into online sports betting.
CDC Gaming reported that chairman Erwin Haitzmann said all four Alberta casinos were up and one set a record. He described the Canadian business as solid, with 2.2% revenue growth, and said North America accounted for 90% of Century’s total results.
Haitzmann also dismissed the idea that Alberta iGaming was cannibalising the casinos, saying, "No, we didn’t. Maybe it’s not happening at all. Maybe it’s a natural fertilization instead." Hoetzinger added that Poland was "a period of significant transition," and the Warsaw casino closure was part of the downside. For now, Century’s Alberta opportunity remains in a possible sportsbook partnership, with a chance to build a familiar brand before any eventual sale.
