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Canterbury Park

Logo: pulled from http://www.canterburypark.com/geninfo/logos/Canterbury%20logo%202004_LO.jpg, Non-free logo, via Wikipedia4

Horse racing facility in Minnesota, US

Canterbury Park (formerly Canterbury Downs) is a horse racing track in Shakopee, Minnesota, United States. Canterbury Park Holding Corporation ("Canterbury Park") hosts parimutuel wagering on live thoroughbred and quarter horse racing at its facilities in Shakopee and parimutuel wagering on races held at out-of-state racetracks that are simulcast to the racetrack.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 16, 2026.

Overview

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  • TickerCPHC on Nasdaq1
  • IndustryServices-Racing, Including Track Operation1
  • HeadquartersMN1
  • Websitewww.canterburypark.com
  • Incorporated inMN5
  • Business address1100 Canterbury Road S., Shakopee, Mn 553795
  • Filer categoryNon-accelerated filer, Smaller reporting company5

Canterbury Park (formerly Canterbury Downs) is a horse racing track in Shakopee, Minnesota, United States. Canterbury Park Holding Corporation ("Canterbury Park") hosts parimutuel wagering on live thoroughbred and quarter horse racing at its facilities in Shakopee and parimutuel wagering on races held at out-of-state racetracks that are simulcast to the racetrack. In addition, the Canterbury Park Card Casino operates 24 hours a day, seven days a week, and is also regulated by the Minnesota Racing Commission. Casino games include blackjack, baccarat, Ultimate Texas Hold 'Em, and poker. Canterbury Park also derives revenue from related services and activities, such as concessions, parking, admissions, and programs, and from other entertainment events held at the racetrack. Furthermore, Canterbury Park is pursuing a strategy to enhance shareholder value by developing approximately 140 acres of underutilized land surrounding the racetrack in a project known as Canterbury Commons. The company is pursuing several mixed-use development opportunities for the underutilized land, directly and through joint ventures.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

4.1%Operating margin7
-0.9%Net margin7
-3.2%Revenue growth, 20257
-0.6%Return on equity7

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Casino brought in 62% of the revenue Canterbury Park broke down this way in fiscal 2025.

  1. Casino$37.1M762%down 4% from 2024
  2. Food and Beverage$8.2M714%up 3% from 2024
  3. Pari-mutuel$7.7M713%down 7% from 2024
  4. Product and Service, Other$6.5M711%down 1% from 2024
Products and services by year
Products and services20242025
Casino$38.8M$37.1M
Food and Beverage$8.0M$8.2M
Pari-mutuel$8.2M$7.7M
Product and Service, Other$6.6M$6.5M

Business segments

Card Casino brought in 62% of the revenue Canterbury Park broke down this way in fiscal 2025.

  1. Card Casino$37.1M762%down 4% from 2024
  2. Horse Racing$13.5M723%down 3% from 2024
  3. Food and Beverage$8.9M715%up 1% from 2024
Business segments by year
Business segments20242025
Card Casino$38.8M$37.1M
Horse Racing$14.0M$13.5M
Food and Beverage$8.8M$8.9M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs100¢$59.3M
  • Income tax0¢$285.0K

Out of $59.6M in revenue.7 The company lost money this year.

Where each dollar of operating cash went, fiscal 2025

  • Dividends paid16¢$1.4M
  • Kept or used elsewhere84¢$7.5M

Out of $8.9M of cash from operations.7

Financial statements

Revenue891011127$59.6M in 2025+1% since 2019
0$20.0M$40.0M$60.0M$80.0M2019: $59.2M$59.2M20192020: $33.1M$33.1M2020−44%2021: $60.4M$60.4M2021+82%2022: $66.8M$66.8M2022+11%2023: $61.4M$61.4M2023−8%2024: $61.6M$61.6M2024+0%2025: $59.6M$59.6M2025−3%
Operating income1391011127$2.5M in 2025−32% since 2019
0$5.0M$10.0M$15.0M$20.0M2019: $3.6M$3.6M20192020: $625.8K$625.8K2020−83%2021: $17.8M$17.8M2021+2741%2022: $10.9M$10.9M2022−39%2023: $11.5M$11.5M2023+6%2024: $6.4M$6.4M2024−44%2025: $2.5M$2.5M2025−62%
Net income1391011127-$529.4K in 2025
-$5.0M0$5.0M$10.0M$15.0M2019: $2.7M$2.7M20192020: $1.1M$1.1M2020−61%2021: $11.8M$11.8M2021+1011%2022: $7.5M$7.5M2022−36%2023: $10.6M$10.6M2023+41%2024: $2.1M$2.1M2024−80%2025: -$529.4K-$529.4K2025

Every line of the income statement in the latest annual report, as filed.7

Period ending2025-12-312024-12-31
Net Revenues$59.6M$61.6M
Purse expense$7.1M$7.9M
Minnesota Breeders Fund$981.6K$1.0M
Salaries and benefits$26.5M$26.1M
Depreciation and amortization$4.0M$3.6M
Advertising and marketing$1.7M$1.3M
Professional and contracted services$5.9M$5.7M
Loss on disposal of assets$56.2K$49.2K
Other operating expenses$5.3M$5.5M
Total Operating Expenses$57.1M$56.9M
Gain on transfer of land (Note 11)$0$1.7M
INCOME FROM OPERATIONS$2.5M$6.4M
Loss from equity investment-$5.2M-$5.5M
Interest income, net$2.0M$2.1M
Net Other Loss-$3.3M-$3.4M
(LOSS) INCOME BEFORE INCOME TAXES-$814.4K$3.0M
INCOME TAX BENEFIT (EXPENSE) (Note 4)$285.0K-$923.9K
NET (LOSS) INCOME-$529.4K$2.1M
Basic earnings (loss) per share (in dollars per share)-$0.10$0.42
Diluted earnings (loss) per share (in dollars per share)-$0.10$0.42
Weighted average basic shares outstanding (in shares)5.1M shares5.0M shares
Weighted average diluted shares (in shares)5.1M shares5.0M shares

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The story

Canterbury Downs was founded by Walter Brooks Fields Jr. and other investors. According to David Miller of the Daily Racing Form, "Fields, along with his nephew Brooks Hauser, formed Minnesota Racetrack Inc. after a constitutional amendment allowing parimutuel wagering on horse racing was approved by Minnesota voters in 1982. Naming Santa Anita as its primary partner, Minnesota Racetrack Inc. was awarded the state's first racetrack license by the Minnesota Racing Commission, and the facility in Shakopee held its first race on June 26, 1985. In 1986 Canterbury Downs tried to do some harness racing for the 1986 racing season and did the 1986 Breeders Crown. In the 1980s, Canterbury Downs had its own newspaper, the Post Times, edited by Dan Stoneking.

The introduction of the state's lottery and the widespread growth of casino gaming at Native American-hosted facilities in the area saw Canterbury Downs business repeatedly fall below revenue projections, and the track was sold in 1990 to Ladbroke Racing PLC."

In 1990, Ladbroke Racing Corporation bought Canterbury and renamed it New Canterbury Downs. In December 1992, it closed its doors after a disastrous live racing season that saw an enormous drop in attendance. In late 1993, Canterbury was bought by Irwin L. Jacobs, who quickly sold it to Curtis and Randy Sampson. Shortly after the sale, the Sampsons worked to revitalize Canterbury, so that it reopened its doors to simulcasting, and it quickly paid off its debt. In late 1994, Canterbury carried out a promise to return live horse racing to Minnesota. In January 1995, Canterbury Downs officially changed its name to Canterbury Park.

In 1999 the legislature authorized a card room with poker tables at Canterbury Park. This had the effect of allowing poker tables at the state's Indian tribe casinos as well.

Due to the 2011 Minnesota state government shutdown, Canterbury was forced to close. Ramsey County District Judge Kathleen Gearin rejected a court case by Canterbury's owners to reopen it. Canterbury Park reopened on July 20, 2011, when the government shutdown ended.

In June 2012, Canterbury Park and the Shakopee Mdewakanton Sioux Community, owners and operators of Mystic Lake Casino, announced a 10-year cooperative marketing and purse enhancement agreement that added $75 million to horsemen purses. The deal was not renewed after it expired on December 31, 2022.

Canterbury Park also hosts corgi dog races, wiener dog races, and the annual Running of the Bulldogs.

Staff members include KFAN radio personality and Minnesota Vikings announcer Paul Allen and Minnesota Wild television commentator Kevin Gorg.

Read the full text

In 2019, Canterbury Park was the site of the Twin Cities Summer Jam.

Near the end of the 2023 race meet, Canterbury Park director of racing Chris Merz announced that the track would eliminate the runup for races–the distance between the placement of the starting gate and the location where timing of the race begins–in an effort to be more transparent and present a better product to gamblers with the advent of sports betting in the country. About two weeks later, Merz announced that he had resigned from Canterbury Park and a track spokesman said that the decision to eliminate the run-up would be reconsidered.

In April 2024 the Minnesota Racing Commission had approved Historic Horse Racing but was later overturned by the State of Minnesota.

In May 2026, a man was fatally shot at the Canterbury Park Expo Center during an Eid al-Adha prayer service being held there. A suspect was later charged with second-degree murder and unlawful gun possession.

From Wikipedia’s article on Canterbury Park, shared under CC BY-SA 4.0.6

Former names

  • New Canterbury Park Holding CorpApr 22, 2016 to Jul 1, 20165

Recent filings

  1. Oct 1, 2026SCHEDULE 13D
  2. Aug 12, 202610-Q
  3. Jun 8, 20264 PRIMARY DOCUMENT
  4. Jun 8, 20264 PRIMARY DOCUMENT
  5. Jun 8, 20264 PRIMARY DOCUMENT
  6. Jun 8, 20264 PRIMARY DOCUMENT
  7. Jun 8, 20264 PRIMARY DOCUMENT
  8. Jun 8, 20264 PRIMARY DOCUMENT
  9. Jun 8, 20268-K
  10. Jun 4, 20268-K
  11. May 12, 202610-Q
  12. Apr 24, 2026DEF 14A
  13. Apr 24, 2026DEFA14A
  14. Mar 26, 20268-K
  15. Mar 16, 20264 PRIMARY DOCUMENT

Every filing from the last three years, summarized. The full record is on SEC EDGAR.2