Canterbury Park Holding Corp (NASDAQ: CPHC)

Canterbury Park Holding Corporation operates a horse racing track and casino facility offering pari mutual wagering on live and simulated horse races card games where players compete against each other food and beverage services and real estate development in Shakopee Minnesota.

The company generates revenue primarily from casino operations which accounted for 62.3% of total net revenues in 2025 pari mutual wagering contributed 12.9% food and beverage sales contributed 13.8% and other activities including real estate development made up the remaining 11.0%.

The company operates through the following segments: horse racing, Casino, food and beverage, and real estate development.

• horse racing: This segment offers pari mutual wagering on live thoroughbred and quarter horse races and year round simulcasting of races from out of state tracks.

• Casino: This segment offers card games where players compete against each other including poker and table games operating 24 hour a day and generates revenue from player fees and a percentage of wagers.

• food and beverage: This segment provides concessions catering events restaurant and bar services at the racetrack.

• real estate development: This segment manages the development of company land for residential office retail hotel and mixed use projects through joint ventures and outright sales.

Canterbury Park Holding Corporation holds a unique position as the only facility in Minnesota offering live pari mutual thoroughbred and quarter horse racing while also operating a casino and diversified real estate business Its main competitors include tribal casinos such as Mystic Lake other racetracks like Running Aces and internet based gaming platforms The company benefits from its exclusive racing license its strategic location in the Minneapolis Saint Paul metropolitan area and its ability to attract visitors through gaming dining and event offerings.

The company serves patrons who place wagers on horse races and play casino games visitors attending concerts and events and tenants or purchasers of residential and commercial spaces developed on its land.