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Canterbury Park Holding Corporation Reports Q2 Results

For the quarter, the Company reported revenues of $9,654,252 and operating expenses of $10,062,962, which resulted in a loss from operations of ($408,710). After net non-operating expenses of $2,178, and an income tax benefit of $159,000, the Company incurred a net loss of ($251,888).

For the quarter ended June 30, 1999 the Company incurred a net loss of ($262,211). The net loss for the six months ended June 30, 2000 was ($74,121) compared to net income of $265,215 for the same period in 1999.

The $3.5 million or 56.5% increase in revenues for the quarter was almost entirely attributable to the commencement of operations of the Company's Card Club on April 19, 2000. Card Club revenues were $3,481,078 for the quarter.

Operating expenses increased $3.6 million or 55.3% for the three months ended June 30, 2000 compared to the second quarter last year. The increase was primarily due to the operating costs of the Card Club as well as significant pre-opening expenses and various other non-recurring costs related to the construction and opening of the Card Club.

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