Canterbury Park Holding Corp (NASDAQ: CPHC) is a horse racing and gaming company that owns and operates Canterbury Park Racetrack and Casino in Shakopee, Minnesota, approximately 20 miles southwest of downtown Minneapolis. Revenue comes from pari-mutuel wagering on live and simulcast horse races, unbanked card game collections at the Casino, and ancillary sources including food and beverage, advertising signage, and publication sales. Canterbury Park is the only facility in Minnesota licensed to offer live pari-mutuel thoroughbred and quarter horse racing. The Casino operates 24 hours a day, seven days a week, with up to 80 poker and table game tables. A separate real estate segment, Canterbury Development, pursues development of underutilized land adjacent to the Racetrack under the Canterbury Commons project. Total Casino revenue was $37,087,000 in FY2025, down from $38,775,000 in FY2024. Live racing and simulcast revenue totaled approximately $4,751,000 in FY2025. The company reported a net loss of $529,431 in FY2025, compared to net income of $2,112,842 in FY2024.

Revenue model

Transactional revenue from pari-mutuel wagering handle (live racing May through September and year-round simulcasting), card game collection fees from poker and table games in the Casino, advance deposit wagering source market fees ($1,326,000 in FY2025), and ancillary revenue from food and beverage, advertising, and entertainment events. Real estate revenue comes from land sales to third-party developers as part of Canterbury Commons.

Products and services

Live thoroughbred and quarter horse racing (May through September); year-round simulcast wagering on out-of-state races; unbanked poker and table card games at up to 80 tables; food and beverage; advertising signage; publication sales; entertainment events; Canterbury Commons land development and sales.

Customers and end markets

Recreational bettors and gamblers in the Minneapolis-Saint Paul metropolitan area; horse racing participants and horsepersons; real estate developers and builders seeking parcels within the Canterbury Commons mixed-use development adjacent to the Racetrack.

Value-chain role

Owner and operator of a licensed pari-mutuel racetrack and unbanked card game casino. Holds a Class A License and Class B License issued by the Minnesota Racing Commission (MRC). Acts as landowner and development partner for Canterbury Commons real estate, selling parcels to third-party developers.

Geographic exposure

Operations concentrated at a single facility in Shakopee, Minnesota. Simulcasting draws wagering handle from races held at out-of-state racetracks televised at the Canterbury Park facility.

Competitors

Other property owners and real estate sellers in and around Shakopee, Minnesota (for Canterbury Commons land development)

Source: SEC 10-K, filed 2026-03-10

Industry: Services-Racing, Including Track Operation Peers: PlayAGS, Inc. Galaxy Gaming Inc Century Casinos Inc Full House Resorts Inc GAN Ltd Inspired Entertainment Inc Las Vegas Sands Corp