A new track, planned by Horse Racing Alberta and Century Casinos, is one step closer to becoming a reality – as the facility received approval from the Alberta Gaming and Liquor Commission (AGLC).

The site of the new track is a field, located south of Edmonton, near the Edmonton International Airport.

“It’s a big project, I think it’ll be the biggest project that Century has undertaken,” Paul Ryneveld with Century Casinos said.

On Monday, the company announced it has received approval from the AGLC to build the facility, called Century Mile.

The one-mile horse racing track is expected to cost $50 million.

“It was the news we were certainly hoping for, and it is a really good news day for the horse racing industry in the province,” Shirley McLellan, CEO of Horse Racing Alberta, said.

“It’s going to be a significant investment, but well worth it, when it’s all said and done,” Ryneveld said.

In September, 2016, it was announced the bid by Century Casinos had been chosen, over three others, to build a new race track.

The new facility will replace the track at Northlands, which is scheduled to horse racing until June 30, 2018.

The hope is that Century Mile will take over from that date.

“It’s just going to be a great place to showcase a sport that’s been a part of Alberta’s history for over a hundred years,” McLellan said.

Construction is expected to start this spring.

With files from Bill Fortier