Canterbury Park Holding Corporation reports 12 Q2 revenue growth

Canterbury Park Holding Corporation has published its Q2 financial results, reporting a net revenue total of $17

Canterbury Park Holding Corporation has published its Q2 financial results, reporting a nett revenue add of $17.8m.

Net revenue for the point grew from $15.9m, representing a 12% increment year-on-year. H1 meshwork revenue amounted to $31.4m, representing a 25% rise.

Canterbury attributes this confirming termination to a homecoming to normalised operations after Covid-19 restrictions and content limitations inward the previous year.

Q2 network income cut down to $1.7m, a discharge of 6%. However, H1 mesh income totalled $3.5m, a 46% upturn.

Adjusted Earnings Before Interest Taxes Depreciation and Amortization for the billet grew 1% to $3.6m, patch H1 saw a 44% rear to $7.1m.

Both canonical and diluted earnings per apportion saw a Q2 drop off of 8%, from $0.39 to $0.36, rising 43% for H1 from $0.51 to $0.73.

Operating expenses for H1 totalled $26.3m, a 25% increase. This reflects the elaboration of troupe operating areas after the lifting of previous restrictions.

Canterbury President and CEO Randy Sampson said: “We had a strong endorse billet with revenue rising 12% to $17.8m and familiarised EBITDA growing 1% to $3.6m year-over-year, both of which were records for our indorsement quarter.

“Our stage business was strong across our trading operations including Card Casino visitation and drop trends, peculiarly within the to the highest degree worthful segments of our players.

“That said, get down tabularise games’ have inward our Card Casino during the billet negatively wedged revenue performance compared to the same full stop inwards 2021.”

Canterbury owns and operates Canterbury Mungo Park Racetrack and Card Casino inwards Shakopee, Minnesota, with unrecorded racing held from May to December. The Card Casino hosts both fire hook and tabulate games, 24 hours a day, sevener years a week.