SHAKOPEE, Minn., June 9, 2020 /PRNewswire/ -- Canterbury Park
Holding Corporation (NASDAQ: CPHC) (the "Company") announced today
that the live thoroughbred and quarter horse racing season at
Canterbury Park will begin on Wednesday,
June 10, following unanimous approval from the Minnesota
Racing Commission ("MRC"). Pursuant to an
Emergency Executive Order issued on Friday,
June 8 by Minnesota
Governor Tim Walz, Canterbury Park
will be able to accommodate a limited number of spectators during
live racing and resume simulcast wagering operations on
June 10. The MRC also approved an
amendment to the existing cooperative marketing and purse agreement
between Canterbury Park and the Shakopee Mdewakanton Sioux
Community ("SMSC") in support of the upcoming race meet. In
addition, the Company anticipates all table games in the Company's
Card Casino will resume Monday, June
15 with initial capacity limitations.
"We are delighted to announce the initial reopening of
operations at Canterbury Park beginning with the start of our live
racing season and the resumption of simulcast operations this
Wednesday as we continue our longstanding support of horse racing
in Minnesota," said Randy Sampson, President and Chief Executive
Officer of Canterbury Park. "We are appreciative of Governor Walz'
recent Executive Action which allows for a limited number of
spectators for our live racing and simulcast operations and also
paves the way for the anticipated partial resumption of our Card
Casino operations early next week. Our team has worked diligently
with state officials, the MRC and the Minnesota Horsemen's
Benevolent & Protective Association to prepare for the 2020
meet, which will feature 52 days of live racing Monday through
Thursday between June 10 and September
16.
"We are also pleased to have entered into an amendment to our
cooperative marketing and purse agreement with SMSC which provides
support for the live race meet that is critical to the horsemen and
the Minnesota racing industry,"
Mr. Sampson said. "Live racing and pari-mutuel wagering, which will
be closely followed by our Card Casino, are the first steps in our
phased reopening of Canterbury Park following the state-mandated
shutdown in March due to the COVID-19 pandemic. We plan to approach
all of our re-opened operations with a measured, safety-first
approach as we implement a variety of sanitation and social
distancing protocols designed to promote the safety of our team
members, customers and patrons, the horsemen and the horses.
"On behalf of the Board of Directors and the entire leadership
team, I look forward to welcoming our team members, horsemen and
guests back to the property this week. Canterbury Park is an
economic engine for the greater Shakopee area. The return of live racing with
limited spectators and the resumption of activities, although
limited, in our race book and Card Casino are but the first steps
in releasing the full power of that engine. We are committed to
safely resuming our role in the growth of the community through our
unique brand of entertainment as well as through our ongoing
development of Canterbury Commons."
Canterbury Park has implemented a comprehensive array of
protocols for social distancing, sanitization and safety.
About Canterbury Park
Canterbury Park Holding
Corporation owns and operates Canterbury Park Racetrack and Card
Casino in Shakopee, Minnesota, the
only thoroughbred and quarter horse racing facility in the State.
The Company typically offers live racing from May to September. The
Card Casino typically hosts card games 24 hours a day, seven days a
week, dealing both poker and table games. The Company also
typically conducts year-round wagering on simulcast horse racing
and generally hosts a variety of other entertainment and special
events at its Shakopee
facility. The Company is redeveloping 140 acres of
underutilized land surrounding the Racetrack in a project know as
Canterbury Commons. The Company is pursuing several mixed-use
development opportunities for this land, directly and through joint
ventures. For more information about the Company, please visit
www.canterburypark.com.
Cautionary Statement
From time to time, in reports
filed with the Securities and Exchange Commission, in press
releases, and in other communications to shareholders or the
investing public, we may make forward-looking statements concerning
possible or anticipated future financial performance, business
activities or plans. These statements are typically preceded by the
words "believes," "expects," "anticipates," "intends" or similar
expressions. For these forward-looking statements, we claim the
protection of the safe harbor for forward-looking statements
contained in federal securities laws. Shareholders and the
investing public should understand that these forward-looking
statements are subject to risks and uncertainties which could
affect our actual results and cause actual results to differ
materially from those indicated in the forward-looking statements.
We report these risks and uncertainties in our Form 10-K Report to
the SEC. They include, but are not limited to: material
fluctuations in attendance at the Racetrack; any ongoing effect
that the coronavirus (COVID-19) have may on us as an entertainment
venue or on the economy generally; material changes in the level
of wagering by patrons; decline in interest in the unbanked card
games offered in the Card Casino; competition from other venues
offering unbanked card games or other forms of wagering;
competition from other sports and entertainment options; increases
in compensation and employee benefit costs; increases in the
percentage of revenues allocated for purse fund payments; higher
than expected expense related to new marketing initiatives; the
impact of wagering products and technologies introduced by
competitors; the general health of the gaming sector; legislative
and regulatory decisions and changes; our ability to successfully
develop our real estate; temporary disruptions or changes in access
to our facilities caused by ongoing infrastructure improvements;
and other factors that are beyond our ability to control or
predict.
Media
Contact:
|
Investor
Contact:
|
Jeff
Maday
|
Richard Land, Jim
Leahy
|
Media Relations
Manager
|
JCIR
|
Canterbury Park
Holding Corporation
|
212-835-8500 or
cphc@jcir.com
|
952-292-7524 or
jmaday@canterburypark.com
|
|
View original content to download
multimedia:http://www.prnewswire.com/news-releases/canterbury-park-announces-phased-reopening-plan-for-resumption-of-operations-301072666.html
SOURCE Canterbury Park Holding Corporation