Calgary company acquires Alberta racetracks, betting on future of horse racing industry

A Calgary company with deep roots in Alberta’s horse racing community is taking ownership of two of the province’s premier racetracks, a move industry leaders say could help strengthen the sport.

Highfield Investment Group has acquired the racing and gaming operations at Century Downs in Calgary and Century Mile in Edmonton for approximately $23.2 million.

For Highfield president Adrian Munro, the investment is more than a business decision.

“My grandfather owned horses, my dad owned horses,” he said. “We’ve been in the racing industry for generations.”

The acquisition comes in a province that is home to roughly one-third of Canada’s horses, the largest horse population in the country. Munro believes Alberta is well positioned to take on a leadership role in the industry as other jurisdictions struggle.

“Unfortunately, horse racing lost B.C.’s racing industry last year, and Alberta is poised to be a leader in Western Canada and across Canada for horse racing,” he said.

That outlook is welcomed by Horse Racing Alberta CEO Kent Verlik, who said the loss of racetracks in B.C. has created uncertainty for the sport across the region.

“Considering how we lost Hastings and the other Standardbred track in B.C., it’s great to know we have a partner that is going to be here for the long term,” Verlik said.

The industry’s economic impact extends well beyond the racetrack itself

Cindy Baraby, an outrider at Century Downs, said horse racing supports hundreds of jobs across Alberta.

“Oh it’s hundreds of jobs…and it gives so many people jobs, not just here but in agriculture, the people who run the hay, the people selling grain and oats, the breeding…everything,” she said.

Josh Murphy, assistant racing manager at Century Downs and a 10-year industry veteran, said the economic ripple effects reach a wide range of businesses and services.

“You have vets, farriers, you have feed stores, tack stores,” he said. “All those various things, and as an operator, you have track surface, we buy shavings, we buy manure haul outs, all various things.”

Baraby said the investment is especially encouraging because the new ownership understands the industry from the perspective of horse owners and trainers.

“Oh, yeah, big time… especially because a horseman is taking over and he understands how important it is to the horse people, right?” she said.

For many involved in Alberta’s horse-racing industry, the deal represents a vote of confidence in the sport’s future and a sign that the province could play an increasingly important role in Canadian horse racing.