Canterbury Park Holding Corporation Reports 2023 Second Quarter Results
Second quarter net revenue of $16.3 million and adjusted EBITDA of $2.0 million resulted in adjusted EBITDA as a percentage of revenue of 12.4%.
- Second quarter net revenue of $16.3 million and adjusted EBITDA of $2.0 million resulted in adjusted EBITDA as a percentage of revenue of 12.4%.
- Pari-mutuel revenue declined 31.8% year-over-year primarily due to a significant decline in out-of-state handle on Canterbury Park races.
- During the second quarter of 2023, we completed the $8.8 million sale of 37 acres of land to Swervo Development Corporation (“Swervo”) which cleared the way for it to begin development of a state-of-the-art amphitheater.
- Further financial information for the second quarter ended June 30, 2023 is presented in the accompanying tables at the end of this press release.