Group 1 - Canterbury Park Holding Corporation announced a quarterly cash dividend of $0.07 per share, payable on July 12, 2024, to stockholders of record on June 28, 2024, resulting in an annual dividend of $0.28 per common share [4] - The company owns and operates Canterbury Park Racetrack and Casino in Shakopee, Minnesota, which is the only thoroughbred and quarter horse racing facility in the state [5] - Canterbury Park generally offers live racing from May to September and operates a casino that hosts card games 24/7, including poker and table games [5] Group 2 - The company is pursuing a strategy to enhance shareholder value through the development of approximately 140 acres of underutilized land surrounding the racetrack, originally designated for a project known as Canterbury Commons™ [5] - Canterbury Park is exploring several mixed-use development opportunities for the remaining underutilized land, both directly and through joint ventures [5]

Revenue Performance - Total net revenues for Q1 2024 were $14,098,000, an increase of $798,000, or 6.0%, compared to Q1 2023 revenues of $13,300,000[80] - Total Casino revenue increased by $342,000, or 3.5%, to $10,056,000 in Q1 2024, primarily due to decreased attendance in Q1 2023[82] - Food and beverage revenue rose by $257,000, or 17.5%, in Q1 2024, attributed to increased catering operations for large events[85] - Other revenue increased by $159,000, or 16.1%, in Q1 2024, mainly from space rental and corporate sponsorships[86] Operating Expenses - Total operating expenses increased by $590,000, or 5.0%, in Q1 2024, with salaries and benefits rising by $277,000, or 4.7%[87] Net Income - Net income for Q1 2024 was $998,000, or $0.20 per share, down from $2,771,000, or $0.57 per share in Q1 2023[92] - Adjusted EBITDA for Q1 2024 was $3,212,919, an increase of $395,000, or 14.0%, compared to Q1 2023[94] Cash Flow - Cash, cash equivalents, and restricted cash balance as of March 31, 2024, was $24,281,000, down from $25,842,000 at the end of 2023[97] - Net cash provided by operating activities for Q1 2024 was $1,616,000, influenced by net income and changes in working capital[98] - Net cash provided by operating activities for the three months ended March 31, 2023 was $5,822,000, driven by net income of $2,771,000 and a gain from equity investment of $1,859,000[99] - Net cash used in investing activities for the three months ended March 31, 2024 was $2,707,000, primarily due to additions to land, buildings, and equipment of $2,217,000[100] - Net cash used in financing activities for the three months ended March 31, 2024 was $470,000, with a cash dividend declared of $0.07 per share[101] TIF Receivable and Improvements - The Company recorded a TIF receivable of approximately $14,188,000 as of March 31, 2024, which includes $11,353,000 of principal and $2,835,000 of interest[108] - The total estimated cost of TIF eligible improvements to be borne by the Company was reduced by $5,744,000 to an amount not to exceed $17,592,881[111] - The Company expects to finance its improvements under the Redevelopment Agreement with current operating resources and existing credit facilities[110] Risks and Competition - The Company has experienced a decrease in revenue and profitability from live racing, which is a risk factor for future performance[112] - The Company may face significant competition from other racing and gaming operations, which could adversely affect operations[112] Accounting Estimates - The Company has made no changes to its critical accounting estimates during the quarter ended March 31, 2024[105] - Management believes the TIF receivable will be fully collectible with no allowance necessary for the three months ended March 31, 2024[109]

winhorse/E+ via Getty Images I am giving Canterbury Park Holding Corporation (NASDAQ:CPHC) a HOLD rating because I think that the stock is currently overvalued from a liquidation as well as from a discounted cash flow standpoint. Currently CPHC is not allowed to have slot machines in their casino as they have been exclusively licensed to Minnesota's Native American Tribes. Legislation has also been introduced to allow sports betting in Minnesota however, as the bill is written it would exclude any casin ...

SHAKOPEE, Minn., March 14, 2024 (GLOBE NEWSWIRE) -- Canterbury Park Holding Corporation ("Canterbury" or the "Company") (NASDAQ:CPHC), today announced that the Company's Board of Directors, pursuant to its dividend policy, approved a quarterly cash dividend of $0.07 per share that will be paid on April 12, 2024 to stockholders of record on March 29, 2024. At this quarterly rate, the annual dividend is equivalent to $0.28 per common share. About Canterbury Park Canterbury Park Holding Corporation (NASDAQ:CPH ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition period from ______ to ______ Commission File Number: 001-37858 CANTERBURY PARK HOLDING CORPORATION (Exact Name of Registrant as Specified in its Charter) Minnesota 47-5349765 ...

Chips, Cash and Dice VITALII BORKOVSKYI Canterbury Park Holding Corporation (NASDAQ:CPHC) has begun monetizing the valuable real estate surrounding their race track & casino with significant land sales and equity investments in related partnerships. The stock price is at $21.52 per share which reveals a current market cap of $105 million. Investors can purchase this business for approximately $1 per share considering the sum of cash, real estate equity investments & receivable notes and land imbedded with ...

SECURITIES AND EXCHANGE COMMISSION | --- | --- | --- | |----------------------------------------------------------|-------------------------------------------------------|-------------------------------------------| | (Exact Name \nMinnesota | of Registrant as Specified in \n | Its Charter) \n47-5349765 | | (State or Other Jurisdiction | of | (I.R.S. Employer | | Incorporation or Organization) | | Identification No.) | | | 1100 Canterbury Road | | | | Shakopee, MN 55379 | | | | (Address of principal executi ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) Commission File Number: 001-37858 CANTERBURY PARK HOLDING CORPORATION (Exact Name of Registrant as Specified in Its Charter) Minnesota 47-5349765 (State or Other Jurisdiction of Incorporation or (I.R.S. Employer Organization) Identification No.) 1100 Canterbury Road Shakopee, MN 55379 (Address of principal executive offices and zip code) Registrant's telephone number, including area code: (952) 445-7223 | Securities ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) Commission File Number: 001-37858 CANTERBURY PARK HOLDING CORPORATION (Exact Name of Registrant as Specified in Its Charter) (State or Other Jurisdiction of Incorporation or (I.R.S. Employer Organization) Identification No.) Minnesota 47-5349765 1100 Canterbury Road Shakopee, MN 55379 (Address of principal executive offices and zip code) Securities registered pursuant Section 12(b) of the Act: | Title of Each Class ...

| --- | --- | --- | --- | |---------------------------------|-------------|----------------|---------------------| | | | | | | CASINO REVENUES | | | | | | Year 2022 | Ended | December 31, 2021 | | Poker Games Collection | $ | 7,607,000 $ | 7,110,000 | | Other Poker Revenue | | 2,875,000 | 2,133,000 | | | | | | | Total Poker Revenue | | 10,482,000 | 9,243,000 | | | | | | | Table Games Collection | | 27,392,000 | 27,120,000 | | Other Table Games Revenue | | 2,345,000 | 1,728,000 | | Total Table Games Revenue ...