Canterbury Park Holding reports $16.2m in Q2 revenue

Revenue was down 0.9 per cent year-over-year.

US.- Canterbury Park Holding Corporation has reported net revenue of $16.2m for Q2 2024, a 0.9 per cent decrease year-over-year. Adjusted EBITDA posted $2.4m, up 1 per cent from the same period in 2023.

Canterbury announced progress on its new amphitheatre, which is expected to open during the Summer of 2025. Greystone, its partner in the Winners Circle development, is also working through the pre-development process for a second 28,000-square-foot commercial office building that would complement the headquarters at Canterbury Commons.

Randy Sampson, president and chief executive officer of Canterbury Park, said: “Casino revenue declined year-over-year primarily reflecting ongoing efforts to optimize our marketing re-investment program. We are focused on optimizing cash flow from our casino operations by driving more consistent visitation from our high-end players and limiting short-term swings in volume.

“The collective 6.7% year-over-year increase in Pari-mutuel, Food & Beverage and other revenues in the 2024 second quarter offset the decline in Casino revenue as we had two additional live race days compared to last year and benefited from our ongoing efforts to position our event center as a leading destination for events of all sizes in the region.”

Canterbury Park Holding Corporation owns and operates Canterbury Park Racetrack and Casino in Shakopee, Minnesota.