Canterbury Park Holding Corporation reported unaudited earnings results for the first quarter ended March 31, 2013. The company reported net income of $291,081 on net revenues of $9,144,568 for the three months ended March 31, 2013, compared to net income of $532,504 on net revenues of $9,608,710 for the same period in 2012. Basic and diluted earnings per share in the first quarter of 2013 were $0.07 compared to diluted earnings per share of $0.13 for the same period last year. Net revenues in the first quarter decreased reflect 3.1% decrease in Card Casino revenue, an 11.2% decrease in pari-mutuel revenue, and a 9.2% decrease in concessions revenue. This revenue decline is partially attributable to inclement weather during the first quarter of 2013, which discouraged customers from visiting and wagering at facility, as compared to unusually mild weather in the first quarter of 2012. Simulcast revenues were also impacted due to similar, harsh weather in other parts of the country that caused the cancellation of a significant number of races at racetracks simulcasting their signal to racetrack. In addition, the company believes that the general reduction in discretionary income stemming from the increase in the payroll tax rate that took effect January 1, 2013 adversely affected Card Casino and simulcast wagering levels. Income before income taxes was $506,729 against $1,006,073 a year ago. EBITDA was $952,268 against $1,478,539 a year ago.

Canterbury Park Holding Corporation announced unaudited consolidated results for the fourth quarter and year ended December 31, 2012. For the quarter, the company reported net operating revenues of $10,100,168, up 4.2% from revenues of $9,695,334 a year ago. Income from operations was $861,586 against $734,918 a year ago. Net income was $448,362 or $0.11 per basic and diluted share against $305,036 or $0.07 per basic and diluted share a year ago. For the year, the company’s net revenues in 2012 were $45,460,647 compared to 2011 net revenues of $40,586,426. The company achieved this 12.0% revenue increase from increases in the company’s three operating segments: Card Casino revenues increased 11.2%, pari-mutuel revenues increased 6.9%, and concession revenues increased 19.0% when compared to 2011. Although these increases were primarily attributable to the state government imposed shutdown of the company’s operations for 20 days in July of 2011, the improved revenues reflect two additional factors: first, the ability to capitalize on law changes in May 2012 that enabled the company to grow the Card Casino business; and second, the highly successful 2012 live meet that stemmed from purse supplements from the cooperative marketing agreement that was signed with the Shakopee Mdewakanton Sioux Community in June 2012. Income from operations was $1,959,774 against $1,046,901 a year ago. Net income was $1,016,364 or $0.24 per diluted share against $397,667 or $0.10 per basic and diluted share a year ago. EBITDA was $3,732,534 against $2,941,178 a year ago.

Canterbury Park Holding Corporation announced the appointment of John L. Morgan to its Board of Directors. Mr. Morgan is the Chairman of the Board and Chief Executive Officer of Winmark Corporation.