Card Club Deals Good Hand at Canterbury
Updated: Friday, March 30, 2001 3:13 PM
Posted: Wednesday, March 28, 2001 8:43 AM
A card club that produced revenue of $11.3 million helped Canterbury Park Holding Corp. post record operating results for 2000. The company owns Canterbury Park, the Thoroughbred track located in Shakopee, Minn.
Net income for the fiscal year that spanned Jan. 1-Dec. 31, 2000, was $838,909, up from $437,291 in 1999. Total revenue for the year was $32,463,416, up from $20,330,508 the previous year.
The card club, a 24-hour-a-day operation located in a renovated portion of the track's clubhouse, has allowed the track "to attract a new gaming customer and has provided substantial new revenues to the company and the horse racing industry through additional purse money," Canterbury president Randy Sampson said.
The track raised purses twice by 10% last year because of card club revenue. This year, purses will average $120,000 a day. The 63-day meet runs from May 18 to Sept. 23.
FREE! E-Newsletters from The Blood-Horse!...
Follow the top stories of major racing events, racing previews and results with FREE e-newsletters from bloodhorse.com. As news develops, we'll deliver updates to your inbox. Follow important events moment by moment, step by step!