Canterbury Park Holding Corporation (NASDAQ:CPHC) reported a fourth-quarter loss of -$0.08 per share on Monday, while revenue reached $12.45 million, representing a 3.9% increase from $12.0 million recorded in the same period a year earlier.
The company’s shares were unchanged in after-hours trading following the release of the results.
The rise in fourth-quarter revenue was mainly driven by a 5.4% increase in Casino revenue and a 0.7% gain in Food and Beverage sales. These improvements were partly offset by declines in Pari-mutuel and Other revenue streams, which fell by 1.5% and 1.0%, respectively.
Canterbury Park reported a net loss of $390,000 for the quarter, improving from a net loss of $1.2 million in the comparable period last year. Adjusted EBITDA increased 52.8% to $2.3 million from $1.5 million, with the adjusted EBITDA margin reaching 18.4%.
“Fourth quarter results are consistent with historical seasonality and conclude a year of transformation and diversification,” said Randy Sampson, President and Chief Executive Officer. “Visitation rose in the fourth quarter, and we remain focused on increasing casino traffic through our expanded VIP programs as well as enhanced advertising and marketing initiatives.”
For the full year 2025, the company reported total revenue of $59.6 million, down 3.2% from $61.6 million in 2024. Canterbury Park posted a net loss of $529,000, or -$0.10 per share, compared with net income of $2.1 million, or $0.42 per share, in the previous year.
Results in 2024 had been boosted by a $1.7 million gain linked to the transfer of land into a joint venture.
Operating expenses for the fourth quarter totaled $12.1 million, a modest 0.3% increase from the prior year, as the company continued efforts to lower labor costs and improve operational efficiency.
At the end of the quarter, Canterbury Park held $17 million in cash and short-term investments and carried no debt.
The company also reported continued progress on its real estate development plans, with Phase II of the Triple Crown Residences roughly 94% leased. In addition, a new amphitheater with a capacity of 19,000, operated by Live Nation, is expected to open in June 2026.