Canterbury Park reports Q2 EPS 7c vs. $1.07

Reports Q2 revenue $16.2M vs $16.3.Reports adjusted EBITDA, a non-GAAP measure, for the three months ended June 30, and June 30, 2023 was $2.4M…Canterbury delivered solid second quarter 2024 financial results, with net revenues and Adjusted EBITDA of $16.2M and $2.4M , respectively, both in line with the prior-year performance. Casino revenue declined year-over-year primarily reflecting ongoing efforts to optimize our marketing re-investment program. We are focused on optimizing cash flow from our Casino operations by driving more consistent visitation from our high-end players and limiting short-term swings in volume,” said Randy Sampson, President and Chief Executive Officer of Canterbury Park. “The collective 6.7% year-over-year increase in Pari-mutuel, Food & Beverage and Other revenues in the 2024 second quarter offset the decline in Casino revenue as we had two additional live race days compared to last year and benefited from our ongoing efforts to position our event center as a leading destination for events of all sizes in the region. The adjusted EBITDA margin of 14.9% in the quarter increased from 14.6% for the same period in 2023, again highlighting our Company-wide focus on initiatives to operate efficiently and generate cash flow. Overall, our second quarter 2024 financial results continue to demonstrate the improvement in our operations that we are delivering compared to the pre-pandemic periods…