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Canterbury Park Holding Corporation Reports 2021 Second Quarter Results SHAKOPEE , Minn . , Aug. 09 , 2021 ( GLOBE NEWSWIRE ) -- Canterbury Park Holding Corporation ( " Canterbury " or the " Company " ) ( NASDAQ : CPHC ) , today reported financial results for the second quarter and six months ended June 30 , 2021 . ( $ in thousands , except per share data and percentages ) Three Months Ended June 30 , Six Months Ended June 30 , 2021 2020 Increase ( 3 ) 2021 2020 Increase ( 3 ) Net revenues ( 1 ) $ 15,872 $ 2,768 473.4 % $ 25,097 $ 13,717 83.0 % Net income ( loss ) ( 1 ) $ 1,869 ( $ 1,181 ) NM $ 2,421 ( $ 926 ) NM Adjusted EBITDA ( 1 ) ( 2 ) 3,514 ( 1,775 ) 298.0 % 4,936 ( 916 ) 638.8 % Basic EPS Diluted EPS $ 0.39 ( $ 0.25 ) NM $ 0.51 ( $ 0.20 ) NM $ 0.39 ( $ 0.25 ) NM $ 0.51 ( $ 0.20 ) NM ( 1 ) Net revenues and net income for the six month period ended June 30 , 2021 include $ 515,000 in grant funds received as a result of the Minnesota COVID - 19 relief package that was passed and signed into law in December 2020 . ( 2 ) Adjusted EBITDA , a non - GAAP measure , excludes certain items from net income , a GAAP measure . Non - GAAP financial measures are not intended to be considered in isolation from , a substitute for , or superior to GAAP results . Definitions , disclosures , and reconciliations of non - GAAP financial information are included later in the release . ( 3 ) Amounts referred to as " NM " are defined as not meaningful . Financial results for the three and six months ended June 30 , 2020 reflect the impact of the onset of the COVID - 19 pandemic and closure of the Card Casino , simulcast , and special events operations at Canterbury Park from March 16 , 2020 to June 9 , 2020 , after which the Company reopened in a limited capacity . Results for the six months ended June 30 , 2021 include the impact of the state- mandated closure of Canterbury Park which ended January 10 , 2021 and capacity restrictions from January 11 , 2021 to May 28 , 2021. Canterbury Park re - opened on January 11 , 2021 with a capacity limitation of 150 guests per designated area ; this was subsequently increased on February 13 , 2021 to 250 guests per designated area . All capacity restrictions were removed on May 28 , 2021 , and we began operating under pre - pandemic guidelines . Management Commentary " Canterbury Park's strong operating momentum continued in the second quarter of 2021 , as income from operations ( excluding one - time gains ) increased 157 % over the comparable 2019 non - COVID impacted period and , despite lower revenue , we generated record quarterly adjusted EBITDA of $ 3.5 million , " said Randy Sampson , President and Chief Executive Officer of Canterbury . " This strong performance reflects improved guest visitation as capacity restrictions were lifted which helped drive consistent monthly increases in our higher - margin Card Casino revenues throughout the quarter .