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1. Company Snapshot

1.a. Company Description

Canterbury Park Holding Corporation, through its subsidiaries, engages in horse racing, card casino, food and beverage, and real estate development businesses.The company's Horse Racing segment operates year-round simulcasting of horse races, as well as wagering on live thoroughbred and quarter horse races on a seasonal basis.Its Card Casino segment offers unbanked card games, such as poker and table games.


The company's Food and Beverage segment operates concession stands, restaurants and buffets, bars, and other food venues, as well as café style restaurants and full-service bars within the Card Casino and simulcast area.This segment also provides lounge services along with a buffet restaurant; various concession style food and beverages during live racing; and catering and events services.Its Development segment engages in various development opportunities, such as residential development, office, restaurants, hotel, entertainment, and retail operations.


The company is also involved in the provision of related services and activities, such as parking, advertising signage, publication sales, and other entertainment events and activities.Canterbury Park Holding Corporation was founded in 1994 and is based in Shakopee, Minnesota.

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1.b. Last Insights on CPHC

Canterbury Park Holding Corporation's recent performance was driven by a strong event turnout, which boosted revenues. The company's Q1 results showed a decline in casino revenues year-over-year, but this was offset by increased event attendance and progress in its real estate segment. Additionally, the company announced a quarterly cash dividend of $0.07 per share, marking the latest in a series of dividend payments that demonstrate its commitment to returning value to shareholders.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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Canterbury Park Q3 Earnings Decline Y/Y as Casino Revenues Slip

Nov -13

Source: zacks.com

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Canterbury Park Holding Corporation Reports Third Quarter Results

Nov -06

Source: globenewswire.com

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Canterbury Park Holding Corporation Announces Quarterly Cash Dividend

Sep -10

Source: globenewswire.com

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Canterbury Park Q2 Earnings Fall Y/Y on Lower Revenues, Higher Costs

Aug -12

Source: zacks.com

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Canterbury Park Holding Corporation Reports Second Quarter Results

Aug -07

Source: globenewswire.com

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Canterbury Park Holding Corporation Announces Quarterly Cash Dividend

Jun -13

Source: globenewswire.com

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CPHC Q1 Loss Widens Y/Y on Casino Decline, Events Boost Revenues

May -15

Source: zacks.com

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Canterbury Park Holding Corporation Reports First Quarter Results

May -08

Source: globenewswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.50%)

6. Segments

Casino

Expected Growth: 4.5%

Growing demand for entertainment and leisure activities, increasing popularity of casino gaming, and strategic location in Shakopee, Minnesota, drive growth for Canterbury Park Holding Corporation's casino.

Horse Racing

Expected Growth: 4.5%

Growing demand for live horse racing and simulcasting, increasing wagering on horse races, and expansion of online betting platforms drive growth in Canterbury Park's horse racing segment.

Food and Beverage

Expected Growth: 4.5%

Growing demand for entertainment and leisure activities, increasing popularity of horse racing and casino gaming, and Canterbury Park's strategic expansion of its dining options are expected to drive growth in the Food and Beverage segment.

7. Detailed Products

Racing

Canterbury Park Holding Corporation operates a horse racing track, offering live racing events and simulcasting of races from other tracks.

Card Casino

The company operates a card casino, featuring poker, blackjack, and other table games.

Poker Room

Canterbury Park Holding Corporation offers a dedicated poker room with daily tournaments and cash games.

Food and Beverage

The company provides a range of dining options, including restaurants, bars, and concessions.

Events and Catering

Canterbury Park Holding Corporation offers event spaces and catering services for private events, such as weddings and corporate functions.

8. Canterbury Park Holding Corporation's Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Canterbury Park Holding Corporation is moderate due to the presence of alternative forms of entertainment and leisure activities.

Bargaining Power Of Customers

The bargaining power of customers is low due to the lack of concentration of buyers and the high switching costs.

Bargaining Power Of Suppliers

The bargaining power of suppliers is moderate due to the presence of multiple suppliers and the moderate switching costs.

Threat Of New Entrants

The threat of new entrants is high due to the low barriers to entry and the high growth potential of the industry.

Intensity Of Rivalry

The intensity of rivalry is high due to the high competition among existing players and the high stakes involved.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 0.08%
Debt Cost 3.95%
Equity Weight 99.92%
Equity Cost 2.88%
WACC 2.88%
Leverage 0.08%

11. Quality Control: Canterbury Park Holding Corporation passed 6 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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Monarch Casino & Resort

A-Score: 6.3/10

Value: 3.6

Growth: 7.0

Quality: 8.6

Yield: 3.0

Momentum: 8.5

Volatility: 7.3

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Playa Hotels & Resorts

A-Score: 5.9/10

Value: 3.4

Growth: 7.8

Quality: 5.9

Yield: 0.0

Momentum: 9.5

Volatility: 8.7

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PlayAGS

A-Score: 5.3/10

Value: 5.1

Growth: 6.7

Quality: 5.7

Yield: 0.0

Momentum: 6.0

Volatility: 8.3

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Golden Entertainment

A-Score: 5.0/10

Value: 6.0

Growth: 4.8

Quality: 4.2

Yield: 6.0

Momentum: 2.5

Volatility: 6.3

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Everi

A-Score: 4.8/10

Value: 5.1

Growth: 4.7

Quality: 4.8

Yield: 0.0

Momentum: 6.0

Volatility: 8.3

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Canterbury Park

A-Score: 4.3/10

Value: 3.6

Growth: 2.3

Quality: 5.2

Yield: 3.0

Momentum: 6.0

Volatility: 5.3

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

15.5$

Current Price

15.5$

Potential

-0.00%

Expected Cash-Flows