Canterbury Park Q4 2025: $12.4M revenue, loss

Q4 revenue rose 3.9% to $12.4M but 2025 net loss hit $0.5M as Canterbury leans on real estate and a 19,000-seat Live Nation amphitheater opening June 2026.

Published on Mar. 9, 2026

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Canterbury Park Holding Corporation reported financial results for the fourth quarter and full year ended December 31, 2025. Fourth quarter revenue increased 3.9% to $12.4 million, driven largely by 5.4% growth in Casino revenue. However, the company recorded a net loss of $390,000 for the quarter. For the full year 2025, net revenues decreased 3.2% to $59.6 million, and the company recorded a net loss of $529,000. Canterbury is focused on diversifying its business through real estate development and the opening of a new 19,000-capacity amphitheater operated by Live Nation in June 2026.

Why it matters

Canterbury Park is transitioning from a traditional racetrack and casino operator to a more diversified entertainment and real estate company. The company's efforts to develop its land and add new attractions like the Live Nation amphitheater are aimed at driving growth and unlocking the value of its real estate assets. However, the company is still facing challenges, including decreased revenue from its core racing and casino operations.

The details

Fourth quarter revenue increased 3.9% to $12.4 million, driven by a 5.4% increase in Casino revenue, while Pari-Mutuel and Other revenues declined. Operating expenses were relatively flat compared to the prior year quarter. For the full year 2025, net revenues decreased 3.2% to $59.6 million, reflecting declines in Casino, Pari-Mutuel and Other revenues, partially offset by a 3.5% increase in Food and Beverage revenue. Operating expenses for the full year increased 0.4% to $57.1 million.

  • Canterbury Park opened in the summer of 1975.
  • The new 19,000-capacity amphitheater operated by Live Nation is scheduled to open in June 2026.

The players

Canterbury Park Holding Corporation

A company that owns and operates Canterbury Park Racetrack and Casino in Shakopee, Minnesota, the only thoroughbred and quarter horse racing facility in the state.

Live Nation Entertainment

An American events promoter and venue operator that will operate the new 19,000-capacity amphitheater at Canterbury Park.

Randy Sampson

President and Chief Executive Officer of Canterbury Park Holding Corporation.

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What they’re saying

“Fourth quarter results are consistent with historical seasonality and conclude a year of transformation and diversification. Fourth quarter revenue increased 3.9% to $12.4 million , driven largely by 5.4% growth in Casino revenue.”

— Randy Sampson, President and Chief Executive Officer (Canterbury Park Holding Corporation)

“Our real estate development is exceeding expectations - both with respect to the diversity of new development projects that have been built as well as the quality of the projects. This is all occurring in one of the fastest growing markets in the Twin Cities which gives us confidence about the future real estate development prospects at Canterbury Park.”

— Randy Sampson, President and Chief Executive Officer (Canterbury Park Holding Corporation)

What’s next

The new 19,000-capacity amphitheater operated by Live Nation is scheduled to open for a full season in June of 2026. Canterbury Park is also working with the City of Shakopee on a market analysis study to identify the highest and best use for 25 acres of land near the amphitheater that could include hotel, office, retail, hospitality, entertainment venues or other opportunities.

The takeaway

Canterbury Park is undergoing a significant transformation, shifting from a traditional racetrack and casino operator to a more diversified entertainment and real estate company. While the company is facing some challenges in its core operations, its efforts to develop its land and add new attractions like the Live Nation amphitheater demonstrate its commitment to unlocking the value of its assets and creating a unique regional destination.