# Canterbury Park Q3 Net Income Nearly Doubles as Casino Revenue Climbs 13.8%

> Canterbury Park's third-quarter net income nearly doubled to $959,000 as casino revenue rose 13.8% and adjusted EBITDA climbed 27.8% to $3.8 million.

- Published: 2026-11-10T21:38:13+00:00
- Section: Earnings & Results
- Author: News Desk
- URL: https://newsforagent.com/news/2026-11-10/canterbury-park-q3-net-income-casino-growth
- Source: [Stock Titan](https://www.stocktitan.net/news/CPHC/canterbury-park-holding-corporation-reports-third-quarter-urw1miz2i6ob.html)

## Key takeaways

- Canterbury Park reported third-quarter 2026 net income of $959,000, up from $487,000 a year earlier.
- Adjusted EBITDA rose 27.8% to $3.8 million on net revenue of $19.1 million, up 4.2%.
- Casino revenue increased 13.8% to $10.2 million, supported by a 17% rise in table games drop.
- Canterbury expects its Doran Canterbury joint ventures to turn cash-flow positive in 2027.

Canterbury Park Holding Corporation reported third-quarter 2026 net income of $959,000, or $0.18 per diluted share, up from $487,000, or $0.10 per diluted share, a year earlier, with adjusted EBITDA rising 27.8% to $3.8 million. [Stock Titan](https://www.stocktitan.net/news/CPHC/canterbury-park-holding-corporation-reports-third-quarter-urw1miz2i6ob.html) published the results on November 10, 2026.

## Canterbury Park's Casino Revenue Climbs 13.8%

[Canterbury Park Holdings](https://akta.pro/company-profiles/000yu27/canterbury-park-holdings) owns and operates Canterbury Park Racetrack and Casino in Shakopee, Minnesota, the state's only thoroughbred and quarter horse racing facility, and is developing roughly 140 acres of surrounding land.

Net revenue for the quarter ended September 30, 2026 rose 4.2% to $19.1 million from $18.3 million. Casino revenue increased 13.8% to $10.2 million from $8.9 million, which the company attributed to higher table games drop from increased visitation and spend per visit, plus a higher hold percentage. Food and beverage revenue rose 2.9%, while pari-mutuel revenue fell 9.5% and other revenue fell 9.8%.

Operating expenses were $17.4 million, up $117,000, or 0.7%, and income from operations improved to $1.7 million from $1.1 million. The adjusted EBITDA margin rose to 20.1% from 16.3%.

"Our third-quarter results demonstrate the operating leverage in our business, with revenue growth driving higher profitability and cash flow," said Randy Sampson, Canterbury Park's President and Chief Executive Officer.

For the nine months ended September 30, 2026, net revenue was $48.8 million, up 3.5%, and net income was $981,000 compared with a net loss of $139,000. The nine-month figure includes a $419,000 impairment charge tied to horse racing purse overpayments made in 2024 and 2025 that totaled more than $2.0 million.

## Canterbury Park's Joint Venture Cash Flow

According to akta.pro [company records](https://akta.pro/company-data), Canterbury Park reported first-quarter 2026 net revenue of $13.5 million, up 2.8% year over year, and adjusted EBITDA of $2.8 million, up 35.6%, with a margin of 21.1% versus 16%. The same records put first-quarter 2026 net income at $170,000, compared with a net loss of $299,000 a year earlier.

Canterbury's joint ventures currently generate about $87,000 per quarter in cash flow to the company. Winners Circle contributes approximately $38,000 per quarter and Boardwalk Kitchen & Bar approximately $49,000, while the Doran Canterbury I and II ventures are expected to be cash-flow positive in 2027 on a combined basis.

## Canterbury Park's Dividend and Second Quarter

Canterbury declared a quarterly cash dividend of $0.07 per share, payable October 14, 2026 to shareholders of record September 30, 2026, annualizing to $0.28 per common share, Stock Titan reported in September 2026. In August 2026, Stock Titan reported second-quarter 2026 net revenue of $16.2 million, a 3.2% increase year over year driven by growth in casino, pari-mutuel and food and beverage operations.

## Canterbury Park's Form 10-Q Filing

Canterbury said additional information will be provided in its Quarterly Report on Form 10-Q, to be filed with the Securities and Exchange Commission on or about November 12, 2026. The company also expects to receive approximately $900,000 in tax increment financing reimbursements in late 2026 or early 2027.

## Companies in this story

- [Canterbury Park Holdings company profile](https://akta.pro/company-profiles/000yu27/canterbury-park-holdings) · website: https://www.canterburypark.com

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