Canterbury Park Holding Corporation 'New' - CPHC STOCK NEWS

Canterbury Park Holding Corporation (NASDAQ: CPHC) announced significant developments following unanimous approvals from the Shakopee City Council for a new amphitheater and the Minnesota Racing Commission for racetrack improvements. A 19,000-seat amphitheater will be constructed, enhancing the area's entertainment offerings, with construction expected to start in Spring 2023 and completion by May 2024. Additionally, the company plans multi-million-dollar upgrades to its racetrack facilities, aiming to boost economic activity and improve horse racing quality through renovations and new constructions.

Canterbury Park Holding Corporation (NASDAQ: CPHC) announced its Q2 2022 financial results, showcasing a 12.0% increase in net revenues to $17.8 million from $15.9 million year-over-year. The net income decreased by 6.1% to $1.8 million, while Adjusted EBITDA rose by 1.4% to a record $3.6 million. For the first half of 2022, revenues surged 25.2% to $31.4 million. The company noted strong performance in its Card Casino and live racing operations, but faced challenges from lower table game revenues.

Canterbury Park Holding Corporation (CPHC) announced a quarterly cash dividend of $0.07 per share, set to be paid on July 14, 2022, to shareholders of record by June 30, 2022. This dividend results in an annual rate of $0.28 per common share. The company operates Canterbury Park Racetrack and Casino in Minnesota, offering live racing and 24/7 card games. Additionally, Canterbury is exploring development opportunities on approximately 140 acres of underutilized land around the racetrack to enhance shareholder value.

Canterbury Park Holding Corporation (CPHC) reported record financial results for Q1 2022, with net revenues increasing 48% to $13.6 million and net income rising 222% to $1.8 million. Adjusted EBITDA also grew 149% to $3.5 million, highlighting strong operational recovery post-COVID-19. Key growth drivers included increased visitation in the Card Casino, and successful events. Management remains focused on cost management amidst rising expenses and is optimistic about maintaining higher margins. Additionally, ongoing developments in Canterbury Commons aim to enhance shareholder value.

Canterbury Park Holding Corporation (NASDAQ: CPHC) reported record financial results for Q4 and the full year ended December 31, 2021. Q4 net revenues surged 128% to $14.0 million, with adjusted EBITDA of $3.4 million, compared to a loss a year prior. Full-year net income reached $11.8 million, a dramatic rise from $1.1 million in 2020. The company benefitted from a $6.3 million Employee Retention Credit and a strong recovery in business operations. Strong performance in 2021 led to the reinstatement of a quarterly dividend and plans for continued investment in growth projects.

Canterbury Park Holding Corporation (NASDAQ: CPHC) announced a quarterly cash dividend of $0.07 per share, payable on April 14, 2022, to stockholders of record on March 31, 2022. This results in an annual dividend of $0.28 per share. The Company, which operates a racetrack and casino in Minnesota, is also pursuing plans to develop approximately 140 acres of underutilized land around the facility, aiming to enhance shareholder value through potential mixed-use projects.

Communications Systems, Inc. (Nasdaq: JCS) announced key developments following its merger with Pineapple Energy LLC. Post-merger, the company will be renamed Pineapple Holdings, Inc. and will focus on the home solar industry. The board will now include independent directors Marilyn Adler and Tom Holland, bringing over 60 years of combined experience in finance and residential solar. A special shareholder meeting is set for March 16, 2022, to vote on the merger. The newly formed Pineapple Holdings aims to become a leading player in rooftop solar and storage solutions.

Canterbury Park Holding Corporation (NASDAQ: CPHC) announced two major development projects aimed at enhancing entertainment offerings and strengthening horse racing operations in Shakopee, Minnesota. A partnership with Swervo Development Corporation will lead to the construction of a 19,000-seat amphitheater on 40 acres sold to them, pending regulatory approvals. Additionally, Canterbury plans to invest millions in upgrading its horse stabling facilities. These initiatives are expected to significantly boost local entertainment options and economic growth.

Canterbury Park Holding Corporation (NASDAQ: CPHC) has reinstated its quarterly cash dividend at $0.07 per share, payable on January 28, 2022. This decision reflects the company's recovery from COVID-19 challenges and ongoing development of Canterbury Commons, enhancing shareholder value. With consistent free cash flow generation, the company aims to reward loyal shareholders. Canterbury Park operates the only thoroughbred and quarter horse racing facility in Minnesota, offering live racing and a 24/7 Card Casino.