Canterbury Park Holding Corporation 'New' - CPHC STOCK NEWS

Canterbury Park Holding Corporation (CPHC) announced record financial results for Q3 and the first nine months of 2021. Net revenues surged 60.5% to $21.3 million in Q3 and 71.9% to $46.4 million year-to-date, driven by full operations post-pandemic. Net income grew 49.1% to $2.8 million for Q3 and soared 461.0% to $5.2 million year-to-date. Adjusted EBITDA reached record levels of $5.2 million for Q3 and $10.1 million year-to-date. The 2021 live race meet also saw record handles of $90.8 million. Positive trends in operations signal a strong recovery and future growth opportunities.

Canterbury Park Holding Corporation (CPHC) reported significant financial growth for Q2 2021, with net revenues surging 473.4% to $15.9 million, compared to $2.8 million in Q2 2020. The company achieved a net income of $1.9 million, a turnaround from a loss of $1.2 million in the previous year. Adjusted EBITDA reached a record $3.5 million, illustrating enhanced operational efficiency. Despite rising operating expenses to $13 million, robust recovery in guest visitation and strategic marketing initiatives contributed to improved margins. Development of Canterbury Commons continues, promising future growth opportunities.

Canterbury Park Holding Corporation (CPHC) reported first-quarter 2021 results with net revenues of $9.2 million, reflecting a 15.7% decline due to COVID-19 restrictions. Despite this, net income rose to $551,000, up 116.1% from 2020, and adjusted EBITDA increased 65.6% to $1.4 million. The company benefited from lower operating expenses of $8.0 million, a 26.4% decrease. Future prospects look positive as the Minnesota Governor announced an end to capacity restrictions, allowing for increased operations starting in late May 2021. Development at Canterbury Commons continues with ongoing discussions for land use and a focus on enhancing shareholder value.

Canterbury Park Holding Corporation (CPHC) reported significant financial impacts for Q4 and the full year 2020 due to COVID-19, with Q4 net revenues falling by 51.4% to $6.1 million and full-year revenues down 44% to $33.1 million. Net income for Q4 was $139,000, a sharp decline from $553,000 year-over-year. Despite these challenges, the company maintained liquidity and continued development of Canterbury Commons, anticipating new revenue streams. The re-opening on January 11, 2021, with increased guest capacity signals potential recovery.

Canterbury Park Holding Corporation (NASDAQ: CPHC) announced the resumption of its Card Casino, simulcast, and food and beverage operations starting January 11, 2021. The Card Casino will operate 24/7 with a cap of 150 persons per area, while food outlets will function from 4:00 a.m. to 10:00 p.m. The company emphasizes safety amidst ongoing COVID-19 restrictions. Additionally, real estate development continues on the Canterbury Commons project, aimed at economic recovery in the Shakopee area.

Canterbury Park Holding Corporation (NASDAQ: CPHC) has announced a temporary suspension of all Card Casino, simulcast, and special events operations effective November 20, 2020, due to an executive order from Minnesota Governor Walz aimed at slowing COVID-19 spread. The suspension will last until December 18, 2020. The company remains in talks with officials to mitigate pandemic impacts and continues its real estate development operations. Canterbury Park reported positive cash flow in Q3 2020 and has no borrowings on its line of credit, maintaining liquidity for future growth.

Canterbury Park Holding Corporation (CPHC) reported a significant decline in financial performance for Q3 2020, largely due to the ongoing COVID-19 pandemic. Net revenues fell by 28.5% year-over-year, totaling $13.3 million, while nine-month revenues saw a 42.1% drop to $27 million. Despite these challenges, the company achieved a net income of $1.8 million, up 60.7% from Q3 2019, primarily aided by a $2.3 million gain from land transfers. Ongoing development at Canterbury Commons aims to secure long-term growth and liquidity.

Canterbury Park Holding Corporation (NASDAQ: CPHC) has appointed Mark Chronister to its Board of Directors effective October 1, 2020. This expansion brings the board to six members, with five being independent. Chronister, a financial expert with 40 years of experience, previously served as an audit partner at PwC. His expertise in corporate governance is expected to enhance the board's effectiveness as the company aims to regain pre-pandemic momentum in its Card Casino and pari-mutuel operations, while also pursuing real estate development opportunities around Canterbury Park.

Canterbury Park Holding Corporation (CPHC) reported significant financial declines for Q2 2020, impacted by COVID-19 closures. Net revenues dropped by 83.2% year-over-year to $2.8 million, with a net loss of $1.2 million compared to net income of $958,000 in Q2 2019. Adjusted EBITDA also fell, reflecting the challenges faced during operations suspension from March 16 to June 9, 2020. Despite these challenges, Canterbury initiated development agreements for Canterbury Commons, aiming to generate $250 million in long-term cash flows through new residential and commercial projects.