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Canterbury Park Holding Corporation reports developments tied to its Canterbury Park Racetrack and Casino in Shakopee, Minnesota, including horse racing, simulcast wagering, card casino operations, food and beverage service, entertainment events, and real estate development around the racetrack.
Recurring company updates include quarterly and annual financial results, Board-approved cash dividends, casino and racing operating commentary, special-event activity, and progress on mixed-use development opportunities for land associated with Canterbury Commons™.
Canterbury Park Holding Corporation (CPHC) reported significant financial declines for Q2 2020, impacted by COVID-19 closures. Net revenues dropped by 83.2% year-over-year to $2.8 million, with a net loss of $1.2 million compared to net income of $958,000 in Q2 2019. Adjusted EBITDA also fell, reflecting the challenges faced during operations suspension from March 16 to June 9, 2020. Despite these challenges, Canterbury initiated development agreements for Canterbury Commons, aiming to generate $250 million in long-term cash flows through new residential and commercial projects.