Canterbury Park reported increased revenue and decreased net income for the third quarter ending Sept. 20. Revenue for the Minnesota racetrack was up 4.3% to $12.1 million, but net income for the third quarter fell 21% to $378,103, or 10 cents per share.
The public companies that own Mountaineer Park and Canterbury Park were recognized by Forbes magazine this week as two of the country's top 200 small companies.
Churchill Downs' board of directors authorized the repurchase of up to 55,000 shares. The buy-back was authorized to help stablize the company's stock price and contribute to stablizing the market overall. Despite financial experts pleas to investors that they should not react to the terrorist attacks in New York and Washington D.C., the major stock markets sustained significant losses.
Canterbury Park Holding Corporation announced results for the second quarter and six months ending June 30, 2001. For the quarter, the company reported revenues of $10,694,550 and operating expenses of $10,469,156, resulting in income from operations of $225,394.
Richard Englander's Sing Because tracked an honest pace set by Power of Humor and Five Straight, then drew off in the stretch to win Saturday's $150,000 Claiming Crown Jewel Stakes at Canterbury Park.
The nation's leading owner in wins, Richard Englander, has four horses entered for the third renewal of the Claiming Crown Saturday at Canterbury Park.
In Breeders' Cup World Thoroughbred Championships style, a charter flight carrying 18 Thoroughbreds pointing for the Aug. 4 Claiming Crown is scheduled to arrive at Minneapolis-St. Paul International Airport Sunday afternoon.
An information campaign paid off this year for the Claiming Crown, which lured a record 244 regular nominations, up from 177 in 2000. In addition, there were 36 "open" nominations, up from 33 last year.
Canterbury Park reported a 114% increase in revenue and a 300% increase in earnings per share for its first quarter. The strong performance is attributed to the Minnesota racetrack's card room. Call Now, the owner of Retama Park, saw revenue increase but so did its net loss.
Claiming Crown preview days have been scheduled at four racetracks in anticipation of the main event, which is set for Aug. 4 at Canterbury Park in Minnesota. The preview days will feature races with conditions identical to those of the Claiming Crown.
Canterbury Park, the Minnesota racetrack that hit rock-bottom in the early 1990s, could have its best meet since its "second coming." Officials report heightened interest in the Shakopee track's racing program, which this year will offer $120,000 per day in purses.
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.
Some changes have been made to this year's Claiming Crown, scheduled for Aug. 4 at Canterbury Park. There will be one less race, but the same amount of purse money, and a new eligibility requirement organizers hope will generate more nominations for the event.
Racing and breeding news and information.
Canterbury Park's card room has substantially increased operating revenue, net income, and earnings for the Minnesota track's third quarter ending Sept. 30.
For the fourth consecutive year, Canterbury Park in Shakopee, Minnesota posted significant increases in on-track attendance and handle for 60-day meet. Card Club revenues contributed to two purse increases of 10 percent each, with total purses of approximately $6.4 million for the meet representing an increase of 26.6% over 1999. Average daily purse distribution was $106,000, compared to $90,000 in 1999, an increase of 17.7%.
The Mid-Atlantic racetracks haven't signed a contract to simulcast the seven Claiming Crown races on Aug. 6.
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