Canterbury Park Holding Corporation · NASDAQ:CPHC
Canterbury Park — Investor Presentation (June 2022)
25 slides from Canterbury Park's investor presentation, Jun 2, 2022
Slide 1: Canterbury Park Holding Corporation
CPHC: NASDAQ Canterbury Park Holding Corporation June 2022
Slide 2: Forward-looking statements and non-GAAP disclaimer
From me to time, in reports fled with the SEC, in pres releases, and in other communication to shareholders or the investing public, we may make forwardsleoking statements concerning possible or atiipated future financlal performance, business acthities or plans hich ate typically preceded by the wo
Slide 3: Year End 2021 Results
Year End 2021 Results * Net revenues increased 82% ¥/¥ to $60.4M + Net income i ased $10.7M ¥/¥ to $11.8M + Adjusted EBITDA increased $12.7M ¥/¥ to $13.5M + Nearly &.5 months of suspended operations in 2020 (Quarterly Results Summary 1021 + Net revenues decreased $1.7M, or 16%, while net income incr
Slide 4: 1Q 2022 Financials
1Q 2022 FINANCIALS ‘Strong Operating Momentum Drove Record Qi Revenues, Operating Income, & Adjusted EBITDA + Card Casino: Total Card Casino revenues increased 51%, ¥ + Card Casino: Increased trips and spend from higher end players + Racing and Pari Mutue: Total pari mutuel revenue increased 8%, Y/Y
Slide 5: 1Q 2022 P&L
1Q 2022 P&L Netrevenve® $13,638 $9,226 Operating expenses su212 $7953 Income trom operations $2,426 siz Net income!” gum $581 Adjusted EBITDA” $3587 sanz Adjusted EBITDA % of net revenue 26.0% 163% Basic ES $037 so Diluted EPS $0.38 $02 <. 5
Slide 6: 1Q 2022 Balance Sheet
1Q 2022 BALANCE SHEET cash $13,217 $11,870 Restricted cash 3.500 3m9 Employee retention credit receivable 6314 aia Other current assets aout 2,889 Current assets 26,182 24,395 TiF receivable 12,668 12,502 Other long-term assets 46.165 Total assets $93,062 Long-term debt Total liabilies stockholders
Slide 7: 1Q 2022 Adjusted EBITDA Reconciliation
1Q 2022 ADJUSTED EBITDA RECONCILIATION Netincome si774 $551 Interest income, net (293) (163) Income tax expense 606 252 Depreciation 6 690 earToA 23 4324 Deorecaton and amoriaton rated ety Be a6 Interest expense related to equity investments sty as Other revenue (COVID-18 relief grants) - (15) Adjus
Slide 8: Business Update
BUSINESS UPDRS
Slide 9: Growth Drivers: Real Estate Development
GROWTH DRIVERS: REAL ESTATE DEVELOPMENT Significant opportunity to develop attractive mix of lifestyle and entertainment offerings + Brings financial benefits and drives visitation benefits + Development contemplates residential real estate, etal ‘entertainment, hotels, school, theater and restauran
Slide 10: Growth Drivers: Real Estate Development
GROWTH DRIVERS: REAL ESTATE DEVELOPMENT
Slide 11: Amphitheater
AMPHITHEATER 19,000 Capacity Outdoor Music Amphitheater _
Slide 12: Triple Crown Apartments: Phase I
TRIPLE CROWN APARTMENTS: PHASE |
Slide 13: Triple Crown Apartments: Phase II
TRIPLE CROWN APARTMENTS: PHASE II Phase Il is Mirror Image of Phase | + 215 units + Ground up construction started in a1 2022
Slide 14: Pulte: Canterbury Crossing
PULTE: CANTERBURY CROSSING Phase | Now Open + 2models open + 20townhomessold/under contract
Slide 15: Artessa at Canterbury Park
ARTESSA AT CANTERBURY PARK Construction 40.2022 + Represents approximately 25 ofthe 10 acres sold for total consideration of $2.5 milion + 56-unit cooperative community across four levels (stories) + More than 5,000 square feet of amenity space + Construction is expected to begin in winter of 2022;
Slide 16: Southwest Development
SOUTHWEST DEVELOPMENT Greystone Construction selected as developer and V partner; Canterbury holds 62% equity ownership of V Total land of 13 acres consisting of seven pad sites 28 000 # Greyston struction ofice completed July 2022 + Multiple design awards + 8496 leased, Leases consist of Greystone
Slide 17: Canterbury Commons Phase II
CANTERBURY COMMONS PHASE II Canterbury Park continues to work with master plan developer to program second phase Objective of second phases to drive traffic to Canterbury Commons Provide vistors and residents with variety of attractions and amenities, Potential land uses may include: + Retail entert
Slide 18: Investment Highlights
INVESTMENT HIGHLIGHTS. Proftable and Growing Card Casino Profable Part Mutue Horse Racing and FB Operations ‘trate Financial rfl and Consistent FCF Generation
Slide 19: Slide 19
Slide 20: Canterbury Park Overview
CANTERBURY PARK OVERVIEW. Solid Financial Position
Slide 21: Diverse Business Model
DIVERSE BUSINESS MODEL Card Casino Real Estate Development Racing Hospitality : ables op . +o acres on-site, nding 40 ares CANTERBURY AR
Slide 22: Card Casino Overview
CARD CASINO OVERVIEW Table and poker games** + 38 table games + 28poker tables + dealer asset electronic gaming positions Card Casino games. intonked” 1+ Revenue represents percentage of wagers received ‘+ Wagers lost accumulated ito a player poo! lability which is returnes to payers through iveaiay
Slide 23: Monetization of Canterbury Real Estate
MONETIZATION OF CANTERBURY REAL ESTATE Multiple paths to monetize the excess real estate surrounding Canterbury Park Historical Land Sales Two parcels, encompassing roughly 30 acres, sold for total consideration of approximately $5.8 million (sold in 2015 and 2016) + Implied value of raw land ie abo
Slide 24: Monetization of Canterbury Real Estate
MONETIZATION OF CANTERBURY REAL ESTATE Multiple paths to monetize the excess real estate surrounding Canterbury Park Land Transfers to Joint Ventures i hnninie BEES + CPHC contributed 13 acres of land at per acre value of $228,000 for Phase 1 + Doran exercised option for Phase 2 in August 2020 eres
Slide 25: Questions & Answers
Canterbury Park Holding — Investor Presentation (June 2022) on 6ix