Business
Canterbury Park Holding Corporation Reports 2025 Fourth Quarter Results
SHAKOPEE, Minn., March 09, 2026 (GLOBE NEWSWIRE) -- Canterbury Park Holding Corporation (“Canterbury” or the “Company”) (Nasdaq: CPHC) today reported
About this update from Canterbury Park Holding Corporation
[{"type":"text","content":"SHAKOPEE, Minn., March 09, 2026 (GLOBE NEWSWIRE) -- Canterbury Park Holding Corporation (“Canterbury” or the “Company”) (Nasdaq: CPHC) today reported financial results for the fourth quarter and full year ended December 31, 2025. ($ in thousands, except per share data and percentages) Three Months Ended December 31, Twelve Months Ended December 31, 2025 2024 Change 2025 2024 ChangeNet revenues $12,446 $11,978 3.9% $59,568 $61,562 (3.2%) Net income (loss) (1)($390) ($1,245) (68.7%) ($529) $2,113 (125.1%) Adjusted EBITDA (2)$2,288 $1,497 52.8% $9,410 $10,805 (12.9%) Basic EPS($0.08) ($0.25) (68.0%) ($0.10) $0.42 (123.8%)Diluted EPS($0.08) ($0.25) (68.0%) ($0.10) $0.42 (123.8%) (1) Net income and basic and diluted EPS for the twelve months ended December 31, 2024, benefited from a $1.7 million gain related to the transfer of land to a new joint venture.(2) Adjusted EBITDA, a non-GAAP measure, excludes certain items from net income, a GAAP measure. Non-GAAP financial measures are not intended to be considered in isolation from, a substitute for, or superior to GAAP results. Definitions, disclosures, and reconciliations of non-GAAP financial information are included later in the release. Adjusted EBITDA margin is Adjusted EBITDA as a percentage of net revenues. Management CommentaryRandy Sampson, President and Chief Executive Officer of Canterbury Park, commented, “Fourth quarter results are consistent with historical seasonality and conclude a year of transformation and diversification. Fourth quarter revenue increased 3.9% to $12.4 million, driven largely by 5.4% growth in Casino revenue. Visitation rose in the fourth quarter, and we remain focused on increasing casino traffic through our expanded VIP programs as well as enhanced advertising and marketing initiatives. Food and Beverage revenue grew slightly in the quarter, while Pari-Mutuel revenues declined slightly because of fewer races compared to last year. Adjusted EBITDA of $2.3 million rose 53% year-over-year with an adjusted EBITDA margin of 18.4%, reflecting the quarter’s higher revenue and flat operating expense compared to last year. We continue to take measures to improve operating efficiencies, particularly labor, our largest expense, while pursuing opportunities to grow our entertainment and hospitality businesses and further develop our valuable real estate. “2025 m...