CANTERBURY PARK PROMOTES JASON HAUGEN TO NEW ROLE AS VICE PRESIDENT OF REAL ESTATE FOR CANTERBURY PARK DEVELOPMENT, LLC

Rhea-AI Summary

Canterbury Park Holding Corporation (NASDAQ: CPHC) has promoted Jason Haugen to Vice President of Real Estate for Canterbury Park Development, LLC. In this role, he will oversee the ongoing development of Canterbury Commons, a 140-acre site surrounding the racetrack. Under Haugen's leadership, over $200 million in development has been completed or announced, including 900 residential units and several commercial projects. His previous experience includes roles at Kilbourne Group and Newport Partners. This promotion reflects the company's confidence in Haugen's leadership as they continue to enhance shareholder value.

Positive

• Jason Haugen's promotion indicates management's confidence in his leadership skills.
• Over $200 million in development has been completed or announced under Haugen's oversight.
• Approximately 900 units of residential development are either completed or underway, indicating growth.

Negative

• None.

SHAKOPEE, Minn., Nov. 14, 2022 (GLOBE NEWSWIRE) -- Canterbury Park Holding Corporation (“Canterbury” or the “Company”) (NASDAQ: CPHC), announced today that current Director of Real Estate Development, Jason Haugen, has been named Vice President of Real Estate for Canterbury Park Development, LLC. In this newly created role, Haugen will continue his work overseeing the development of Canterbury Commons while also managing the growing portfolio of the Company’s real estate equity investments.

“Jason’s promotion is a recognition of the value he has brought to the Company and our confidence in his leadership skills,” said Randy Sampson, Chairman and CEO of Canterbury Park. “Jason has been instrumental in the successful transformation of the land surrounding Canterbury Park into what we believe will position Canterbury Commons as a must-visit, must-experience destination for residents and guests in Shakopee and across the broader Minneapolis metropolitan area. Approximately 900 units of residential development have either been completed or are underway, and we have successfully attracted multiple commercial uses to our property. Our long-term vision is rounding into focus under his leadership, and we are excited to see how he guides the future of Canterbury Commons.”

Haugen has served as Director of Real Estate Development since January 2019. In this role, he has overseen the ongoing development of Canterbury Commons, a 140-acre site which surrounds Canterbury Park, including working with state and local agencies to secure necessary permitting. To-date and under his supervision, over $200 million of total development has been completed and/or announced. This includes the completed headquarters building for Greystone Construction (“Greystone”), the newly underway co-tenant restaurant and brewery project near the Greystone building, the soon to begin development of a preschool and the 19,000-seat amphitheater planned by Swervo Development Corporation. Additional residential developments underway include the Triple Crown Residences, Pulte Homes of Minnesota’s row home and townhome residences, Lifestyle Communities’ Artessa at Canterbury Park cooperative community, and age-restricted market rate apartments under the Omry brand.

Prior to joining the Company, he served as Senior Project Manager at Kilbourne Group from May 2016 to January 2019 during which time he managed development and programming for mixed use projects primarily in Fargo, North Dakota. He also served as Director of Business Development with Newport Partners from May 2014 to May 2016 and in other development roles at Master Properties Minnesota and Schafer Richardson from August 2012 to May 2014. He holds a BS in Geology from the University of North Dakota and an MBA with a focus on Commercial Real Estate from the University of St. Thomas.

About Canterbury Park

Canterbury Park Holding Corporation (Nasdaq: CPHC) owns and operates Canterbury Park Racetrack and Card Casino in Shakopee, Minnesota, the only thoroughbred and quarter horse racing facility in the State. The Company generally offers live racing from May to September. The Card Casino hosts card games 24 hours a day, seven days a week, dealing both poker and table games. The Company also conducts year-round wagering on simulcast horse racing and hosts a variety of other entertainment and special events at its Shakopee facility. The Company is also pursuing a strategy to enhance shareholder value by the ongoing development of approximately 140 acres of underutilized land surrounding the Racetrack that was originally designated for a project known as Canterbury Commons™. The Company is pursuing several mixed-use development opportunities for the remaining underutilized land, directly and through joint ventures. For more information about the Company, please visit www.canterburypark.com.

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For a photograph of Jason Haugen and PDF of this release use this link: https://canterburypark.egnyte.com/fl/1Nyzv6jYE9
For Canterbury Park logo use this link: https://canterburypark.egnyte.com/dl/G2iwt11JCi

FAQ

What is the recent promotion at Canterbury Park Holding Corporation?

Jason Haugen was promoted to Vice President of Real Estate for Canterbury Park Development, LLC.

What are the ongoing developments in Canterbury Commons?

Canterbury Commons includes approximately 900 residential units and multiple commercial projects, with over $200 million in development completed or announced.

How has Jason Haugen contributed to Canterbury Park's development?

Haugen oversaw the development of Canterbury Commons, securing necessary permits and managing significant projects.

What is the long-term vision for Canterbury Commons?

The long-term vision aims to transform Canterbury Commons into a must-visit destination for residents and guests in the Minneapolis metropolitan area.