Higher table games traffic drives four per cent increase at Canterbury Park
Canterbury Park’s casino showed growth of 5.4 per cent
Minnesota casino and racetrack operator Canterbury Park concluded a year of ‘transformation and diversification’ with a fourth quarter revenue increase of 3.9 per cent to $12.4m, driven largely by 5.4 per cent growth in casino revenue.
The year-over-year comparison reflects an increase of 0.7 per cent in the food and beverage business, and declines of 1.5 per cent and one per cent in its pari-mutuel and other revenues, respectively. The year-over-year increase in casino revenues reflects higher table games traffic, partially offset by lower-than-average hold during the quarter. The decline in pari-mutuel revenue was due to fewer races across the country compared to the same period in 2024.
Randy Sampson, President and Chief Executive Officer of Canterbury Park, commented: “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 $2.3m rose 53 per cent year-over-year with an adjusted EBITDA margin of 18.4 per cent, 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 marked a pivotal year of our growth and diversification strategy, as the process of creating a unique regional destination to live, stay, work and play is now well underway. While our growth and efficiency initiatives are focused on maximising cash flows from our existing gaming, F&B and expanding entertainment operations, we continue to believe that Canterbury’s record of consistent cash flow, return of capital through quarterly cash dividends and strong balance sheet are not reflected in our current valuation.
Net revenues for the year ended December 31, 2025, decreased 3.2 per cent to $59.6m, compared to $61.6m in the same period last year. The year-over-year comparison reflects declines of 4.4 per cent, 6.6 per cent and 0.7 per cent in Casino, Pari-mutuel and Other revenues, respectively, partially offset by a 3.5 per cent increase in Food and Beverage.
