In addition, our events and food and beverage businesses benefited from a return to a more normalized events calendar, including the return of popular events such as ISOC snowmobile racing, Extreme Horse Skijor races, the M8 Pool Tournament, the Minnesota Deer and Turkey Classic and a first-time event, the Lake Home and Cabin Show. “The strong first quarter financial performance was driven by ongoing momentum in our Card Casino operations where we continue to benefit from higher levels of visitation and spend per visit, with trips from rated players rising 32%. Revenue grew 48% year over year to $13.6 million in the quarter and adjusted EBITDA grew 149% year over year to $3.5 million, representing our second highest ever adjusted EBITDA quarter,” said Randy Sampson, President and Chief Executive Officer of Canterbury. “Canterbury Park’s record first quarter results highlight the underlying strength of our operations as we continue our post-pandemic recovery. Definitions, disclosures, and reconciliations of non-GAAP financial information are included later in the release. Non-GAAP financial measures are not intended to be considered in isolation from, a substitute for, or superior to GAAP results. Net revenues and net income for the three-month period ended Mainclude $515,000 in grant funds received as a result of the Minnesota COVID-19 relief package that was passed into law in December 2020.Īdjusted EBITDA, a non-GAAP measure, excludes certain items from net income, a GAAP measure. First quarter 2022 reflects no closures or capacity limitations.
Canterbury Park re-opened on Januwith a capacity limitation of 150 guests per designated area the capacity limitation was subsequently increased on Februto 250 guests per designated area. ($ in thousands, except per share data and percentages)įinancial results for the 2021 first quarter reflect the impact of the COVID-19 pandemic, including the state-mandated closure of Canterbury Park Januthrough January 10, 2021. "We are confident that the show that … Hedrick's puts on is safe, and we have every intention to hold it this Sunday," he said.SHAKOPEE, Minn., (GLOBE NEWSWIRE) - Canterbury Park Holding Corporation (“Canterbury” or the “Company”) (NASDAQ: CPHC), today reported record financial results for the first quarter ended March 31, 2022. If there had been issues, Maday said, they would have been pointed out by Canterbury and the staff of Hedrick's Exotic Animal Farm, the Kansas organization that works with the animals. In the 10 to 15 years that they've run the races, Maday said, no human or animal has been injured. There are no plans to engage in any conversations with PETA or cancel the upcoming races. Sampson declined to speak with the Star Tribune, but he had seen Guillermo's letter, Maday said. "That's why we decided to take the action of writing to the president and also releasing it publicly," she said.
Guillermo said she wrote to the secretary of racing at Canterbury three weeks ago in order to give the track ample time to cancel the event, but she received no response. "They can be to humans, as well as to themselves." "That kind of frantic, erratic behavior that makes people laugh is the animal showing that they're uncomfortable, that they're frightened," Guillermo said Friday. The letter also said that prey animals are hardwired to panic and run when exposed to loud noises, such as applause and laughter from a crowd at a racetrack.
Ostriches aren't built to carry humans on their backs, and doing so while running can cause painful injuries such as sprains and dislocations, she wrote.
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