Canterbury Park Holding Corporation ("Canterbury Park") hosts pari-mutuel wagering on live thoroughbred and quarter horse racing at its facilities in Shakopee, Minnesota and pari-mutuel wagering on races held at out-of-state racetracks that are simulcast to the Racetrack. In addition, the Canterbury Card Casino hosts "unbanked" card games in which the players compete against each other and not against the house. Canterbury Park also derives revenues from related services and activities, such as concessions, parking, admissions and programs, and from other entertainment events held at the Racetrack.
Canterbury Park was incorporated under the laws of Minnesota on March 24, 1994 and acquired the Racetrack on March 29, 1994. On May 6, 1994 Canterbury Park commenced simulcasting operations, which now are generally conducted seven days per week. Beginning in May 1995, the Company began hosting live horse racing ("live meets") and related pari-mutuel wagering on a seasonal basis, generally from mid May to early September. Canterbury Park's pari-mutuel operations are regulated by the Minnesota Racing Commission.
On April 19, 2000, the Company opened its Canterbury Card Casino. At the Card Casino, patrons compete against each other in a variety of unbanked card games. The Card Casino operates 24 hours a day, seven days a week and is also regulated by the Minnesota Racing Commission. Under the Card Casino Legislation, Canterbury Park is authorized to host up to 50 tables.