IPA: /ˌsɛmɪsɛnˈtɛnɪəl/
KK: /sɛmɪsɛnˈtɛnɪəl/
Relating to or marking a period of fifty years, especially the 50th anniversary of an event.
The town celebrated its semicentennial with a grand festival.
A celebration or event that marks the 50th anniversary of something.
The town held a big party for its semicentennial celebration.
Semicentennial → It is formed from "semi-" (meaning half) and "centennial" (from Latin "centennium", meaning a hundred years). The word "semicentennial" refers to a period of fifty years, which is half of a hundred years.
Think of 'semi-' meaning half and 'centennial' referring to a hundred years — so a semicentennial is a celebration of half a century.