Canterbury Park Holding (CPHC) 10-Q 10 Aug 21 2021 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2021	Aug. 01, 2021
Document Information [Line Items]
Entity Central Index Key	0001672909
Entity Registrant Name	Canterbury Park Holding Corp
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2021
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	001-37858
Entity Incorporation, State or Country Code	MN
Entity Tax Identification Number	47-5349765
Entity Address, Address Line One	1100 Canterbury Road
Entity Address, City or Town	Shakopee
Entity Address, State or Province	MN
Entity Address, Postal Zip Code	55379
Title of 12(b) Security	Common Stock Common stock, $.01 par value
Trading Symbol	CPHC
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		4,786,173

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
CURRENT ASSETS
Cash and cash equivalents	$ 6,903,593	$ 0
Restricted cash	9,631,259	4,471,712
Accounts receivable, net of allowance of $19,250 for both periods	1,850,169	231,255
Inventory	331,456	218,791
Prepaid expenses	874,693	498,642
Income taxes receivable	3,049,319	4,031,621
Total current assets	22,640,489	9,452,021
LONG-TERM ASSETS
Deposits	49,500	49,500
Other prepaid expenses	69,748	0
TIF receivable	12,202,609	11,888,570
Related party receivable	1,809,479	1,541,910
Operating lease right-of-use assets	36,208	45,057
Equity investment	6,236,529	7,515,108
Land held for development	2,797,283	4,805,417
Property, plant, and equipment, net	34,033,616	33,507,204
TOTAL ASSETS	79,875,461	68,804,787
CURRENT LIABILITIES
Accounts payable	3,733,893	2,953,586
Card Casino accruals	2,519,324	2,327,994
Accrued wages and payroll taxes	3,359,700	1,150,102
Accrued property taxes	783,317	804,817
Deferred revenue	1,326,911	435,866
Payable to horsepersons	6,428,040	2,374,696
Current portion of finance lease obligations	26,397	25,749
Current portion of operating lease obligations	22,475	22,271
Total current liabilities	18,200,057	10,095,081
LONG-TERM LIABILITIES
Deferred income taxes	7,347,700	7,347,700
Finance lease obligations, net of current portion	32,671	46,035
Operating lease obligations, net of current portion	13,733	22,786
Total long-term liabilities	7,394,104	7,416,521
TOTAL LIABILITIES	25,594,161	17,511,602
STOCKHOLDERS’ EQUITY
Common stock, $.01 par value, 10,000,000 shares authorized, 4,786,173 and 4,748,012 respectively, shares issued and outstanding	47,861	47,480
Additional paid-in capital	24,200,481	23,631,618
Retained earnings	30,032,958	27,614,087
Total stockholders’ equity	54,281,300	51,293,185
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 79,875,461	$ 68,804,787

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Accounts receivable, allowance	$ 19,250	$ 19,250
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	10,000,000	10,000,000
Common stock, shares issued (in shares)	4,786,173	4,748,012
Common stock, shares outstanding (in shares)	4,786,173	4,748,012

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
OPERATING REVENUES:
Net Revenues	$ 15,871,818	$ 2,767,855	$ 25,097,360	$ 13,716,814
OPERATING EXPENSES:
Purse expense	2,463,587	601,674	3,439,947	1,705,068
Minnesota Breeders’ Fund	314,018	123,427	489,158	313,171
Salaries and benefits	5,687,514	1,893,309	9,654,864	7,471,202
Depreciation and amortization	694,168	693,640	1,383,753	1,410,493
Advertising and marketing	373,604	38,176	430,056	222,164
Professional and Contracted Services	1,102,487	610,405	1,838,334	1,582,729
Other operating expenses	1,123,444	794,203	1,809,478	1,781,660
Total Operating Expenses	13,042,932	5,086,434	20,996,363	15,893,698
Gain on sale of land	263,581	0	263,581	0
INCOME (LOSS) FROM OPERATIONS	3,092,467	(2,318,579)	4,364,578	(2,176,884)
OTHER (LOSS) INCOME
Loss from equity investment	(640,876)	(149,639)	(1,278,580)	(149,639)
Interest income, net	175,090	169,358	344,400	333,048
Net Other (Loss) Income	(465,786)	19,719	(934,180)	183,409
INCOME (LOSS) BEFORE INCOME TAXES	2,626,681	(2,298,860)	3,430,398	(1,993,475)
INCOME TAX (EXPENSE) BENEFIT	(757,597)	1,117,663	(1,009,821)	1,067,499
NET INCOME (LOSS)	$ 1,869,084	$ (1,181,197)	$ 2,420,577	$ (925,976)
Basic earnings (loss) per share (in dollars per share)	$ 0.39	$ (0.25)	$ 0.51	$ (0.20)
Diluted earnings (loss) per share (in dollars per share)	$ 0.39	$ (0.25)	$ 0.51	$ (0.20)
Weighted Average Basic Shares Outstanding (in shares)	4,766,824	4,679,122	4,760,660	4,669,350
Weighted Average Diluted Shares (in shares)	4,766,824	4,679,122	4,760,668	4,672,447
Pari-mutuel [Member]
OPERATING REVENUES:
Net Revenues	$ 3,544,740	$ 1,420,583	$ 4,698,584	$ 2,716,609
Casino [Member]
OPERATING REVENUES:
Net Revenues	9,890,588	795,195	16,754,882	8,356,367
Food and Beverage [Member]
OPERATING REVENUES:
Net Revenues	1,270,090	111,137	1,644,561	1,230,132
OPERATING EXPENSES:
Cost of goods and services sold	554,694	70,888	760,332	635,039
Product and Service, Other [Member]
OPERATING REVENUES:
Net Revenues	1,166,400	440,940	1,999,333	1,413,706
Other Pari-mutuel Expenses [Member]
OPERATING EXPENSES:
Cost of goods and services sold	338,467	58,691	523,762	279,540
Public Utilities [Member]
OPERATING EXPENSES:
Cost of goods and services sold	$ 390,949	$ 202,021	$ 666,679	$ 492,632

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Dec. 31, 2019	4,644,522
Balance at Dec. 31, 2019	$ 46,445	$ 22,733,933	$ 26,635,732	$ 49,416,110
Exercise of stock options (in shares)	24,250
Exercise of stock options	$ 242	200,548	0	200,790
Stock-based compensation	0	67,664	0	67,664
Dividend distribution	$ 0	0	(3,653)	(3,653)
401(K) stock match (in shares)	18,497
401(K) stock match	$ 185	175,491	0	175,676
Issuance of deferred stock awards (in shares)	25,563
Issuance of deferred stock awards	$ 256	(72,635)	0	(72,379)
Shares issued under Employee Stock Purchase Plan (in shares)	3,902
Shares issued under Employee Stock Purchase Plan	$ 39	36,246	0	36,285
Net income (loss)	$ 0	0	(925,976)	(925,976)
Other share retirements (in shares)	(9,920)
Other share retirements	$ (99)	(44,587)	(79,512)	(124,198)
Balance (in shares) at Jun. 30, 2020	4,706,814
Balance at Jun. 30, 2020	$ 47,068	23,096,660	25,626,591	48,770,319
Balance (in shares) at Mar. 31, 2020	4,694,138
Balance at Mar. 31, 2020	$ 46,941	23,035,735	26,811,441	49,894,117
Stock-based compensation	0	10,058	0	10,058
Dividend distribution	$ 0	0	(3,653)	(3,653)
401(K) stock match (in shares)	1,318
401(K) stock match	$ 13	14,696	0	14,709
Issuance of deferred stock awards (in shares)	7,456
Issuance of deferred stock awards	$ 75	(75)	0	0
Shares issued under Employee Stock Purchase Plan (in shares)	3,902
Shares issued under Employee Stock Purchase Plan	$ 39	36,246		36,285
Net income (loss)	$ 0	0	(1,181,197)	(1,181,197)
Balance (in shares) at Jun. 30, 2020	4,706,814
Balance at Jun. 30, 2020	$ 47,068	23,096,660	25,626,591	48,770,319
Balance (in shares) at Dec. 31, 2020	4,748,012
Balance at Dec. 31, 2020	$ 47,480	23,631,618	27,614,087	$ 51,293,185
Exercise of stock options (in shares)	3,654			3,654
Exercise of stock options	$ 36	48,562	0	$ 48,598
Stock-based compensation	0	269,593	0	269,593
Dividend distribution	$ 0	0	(1,706)	(1,706)
401(K) stock match (in shares)	14,620
401(K) stock match	$ 146	223,003	0	223,149
Issuance of deferred stock awards (in shares)	14,597
Issuance of deferred stock awards	$ 146	(26,094)	0	(25,948)
Shares issued under Employee Stock Purchase Plan (in shares)	5,290
Shares issued under Employee Stock Purchase Plan	$ 53	53,799	0	53,852
Net income (loss)	$ 0	0	2,420,577	2,420,577
Balance (in shares) at Jun. 30, 2021	4,786,173
Balance at Jun. 30, 2021	$ 47,861	24,200,481	30,032,958	54,281,300
Balance (in shares) at Mar. 31, 2021	4,764,942
Balance at Mar. 31, 2021	$ 47,649	23,847,636	28,165,086	52,060,371
Exercise of stock options (in shares)	0
Exercise of stock options	$ 0	0	0	0
Stock-based compensation	0	166,463	0	166,463
Dividend distribution	$ 0	0	(1,212)	(1,212)
401(K) stock match (in shares)	8,045
401(K) stock match	$ 80	132,662	0	132,742
Issuance of deferred stock awards (in shares)	7,896
Issuance of deferred stock awards	$ 79	(79)	0	0
Shares issued under Employee Stock Purchase Plan (in shares)	5,290
Shares issued under Employee Stock Purchase Plan	$ 53	53,799	0	53,852
Net income (loss)	$ 0	0	1,869,084	1,869,084
Balance (in shares) at Jun. 30, 2021	4,786,173
Balance at Jun. 30, 2021	$ 47,861	$ 24,200,481	$ 30,032,958	$ 54,281,300

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Operating Activities:
Net income (loss)	$ 2,420,577	$ (925,976)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	1,383,753	1,410,493
Stock-based compensation expense	269,593	67,664
Stock-based employee match contribution	223,149	175,676
Deferred income taxes	0	921,400
Gain on sale of land	(263,581)	0
Loss from equity investment	1,278,580	149,639
Changes in operating assets and liabilities:
Accounts receivable	(1,618,914)	(1,008,121)
Other current assets	(558,464)	51,632
Income taxes receivable/payable	982,302	(2,505,635)
Operating lease right-of-use assets	8,849	12,557
Operating lease liabilities	(8,849)	(12,557)
Accounts payable	196,062	206,665
Deferred revenue	891,045	(420,808)
Card Casino accruals	191,330	(467,059)
Accrued wages and payroll taxes	2,209,598	(788,257)
Accrued property taxes	(21,500)	(1)
Payable to horsepersons	4,053,344	2,753,348
Net cash provided by (used in) operating activities	11,636,874	(379,340)
Investing Activities:
Additions to property, plant, and equipment	(1,343,158)	(1,349,849)
Proceeds from sale of land	2,288,952	0
Increase in TIF receivable	(314,039)	(518,042)
Increase in related party receivable	(267,569)	0
Proceeds from sale of investments	0	103,886
Net cash provided by (used in) investing activities	364,186	(1,764,005)
Financing Activities:
Proceeds from issuance of common stock	102,450	112,877
Payments against line of credit	0	(2,044,668)
Borrowings on line of credit	0	4,909,988
Cash dividend paid to shareholders	(1,706)	(328,092)
Payments for taxes related to net share settlement of equity awards	(25,948)	(72,379)
Principal payments on finance lease	(12,716)	(12,098)
Net cash provided by financing activities	62,080	2,565,628
Net increase in cash, cash equivalents, and restricted cash	12,063,140	422,283
Cash, cash equivalents, and restricted cash at beginning of period	4,471,712	3,927,098
Cash, cash equivalents, and restricted cash at end of period	16,534,852	4,349,381
Schedule of non-cash investing and financing activities
Additions to buildings and equipment funded through accounts payable	584,000	427,000
Transfer of future TIF reimbursed costs from PP&E	314,000	666,000
Supplemental disclosure of cash flow information:
Income taxes paid	350,000	0
Interest paid	$ 2,000	$ 16,000

Note 1 - Overview and Summary o

Note 1 - Overview and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1. Business 25 May 1994, first 1995. May September. 24 seven 80 three TM 140 In January 2020, 19 March 12, 2020. 19 On March 16, 2020, 19 June 10, 2020, June 15, 2020 July 9, 2020, On November 18, 2020, 19. November 21, 2020 January 10, 2021. Upon the reopening of operations on January 10, 2021, six June 30, 2021, May 27, 2021. May 28, 2021, 19 May 28, 2021, 2020 19 The disruptions arising from the COVID- 19 six June 30, 2021 2020. not 19 19 The Company has no long-term debt and a $10,000,000 credit line, of which $8,750,000 is available as of June 30, 2021. June 30, 2021, 19 2021 19 Basis of Presentation and Preparation These condensed consolidated financial statements and accompanying notes should be read in conjunction with the Company’s annual consolidated financial statements and the notes thereto for the fiscal year ended December 31, 2020 10 2020 10 The condensed consolidated balance sheets and the related condensed consolidated statements of operations, stockholders’ equity, and the cash flows for the periods ended June 30, 2021 2020 June 30, 2021 2020 Summary of Significant Accounting Policies 2020 10 no three six June 30, 2021 Restricted Cash Deferred Revenue Payable to Horsepersons - $4,226,000 six June 30, 2021 2020 not not Revenue Recognition ● Identification of the contract, or contracts, with a customer ● Identification of the performance obligations in the contract ● Determination of the transaction price ● Allocation of the transaction price to the performance obligation in the contract ● Recognition of revenue when, or as, we satisfy a performance obligation The transaction price for a Card Casino contract is a set percentage of wagers and is recognized at the time that the wagering process is complete. The transaction price for pari-mutuel wagering is the commission received on a wager, exclusive of any track fees and is recognized upon occurrence of the live race that is presented for wagering and after that live race is made official by the respective state’s racing regulatory body. The transaction price for food and beverage contracts is the net amount collected from the customer for these goods. Food and beverage services have been determined to be separate, stand-alone performance obligations and the transaction price is recorded as revenue as the good is transferred to the customer when delivery is made. Contracts for Card Casino operations and pari-mutuel wagering involve two not not no We have two 1 2 The Company offers certain promotional allowances at no We evaluate our on-track revenue, export revenue (as described below), and import revenue (as described below) contracts to determine whether we are acting as the principal or as the agent when providing services, to determine if we should report revenue on a gross or net basis. An entity acts as a principal if it controls a specified service before that service is transferred to a customer. For on-track revenue and “import revenue,” that is revenue we generate for racing held elsewhere that our patrons wager on, we are entitled to retain a commission for providing a wagering service to our customers. For these arrangements, we are the principal because we control the wagering service; therefore, any charges, including simulcast fees, we incur for delivering the wagering service are presented as operating expenses. For “export revenue,” when the wagering occurs outside our premises, our customer is the third third For the six June 30, 2021, 19 six June 30, 2020.

Note 2 - Stock-based Compensati

Note 2 - Stock-based Compensation	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	2. Long Term Incentive Plan and Award of Deferred Stock The Long Term Incentive Plan (the “LTI Plan”) authorizes the grant of Long Term Incentive Awards that provide an opportunity to Named Executive Officers (“NEOs”) and other Senior Executives to receive a payment in cash or shares of the Company’s common stock to the extent of achievement at the end of a period greater than one one three December 31, 2021. 2020, 19 2020 2021. Board of Directors Stock Option, Deferred Stock Awards, and Restricted Stock Grants The Company’s Stock Plan currently authorizes annual grants of restricted stock, deferred stock, stock options, or any combination of the three, to non-employee members of the Board of Directors at the time of the Company’s annual shareholders’ meeting as determined by the Board prior to each such meeting. Deferred stock awards represent the right to receive shares of the Company's common stock upon vesting. Options granted under the Plan generally expire 10 one June 30, 2021 June 30, 2021 Employee Deferred Stock Awards The Company's Stock Plan permits its Compensation Committee to grant stock-based awards, including deferred stock awards, to key employees and non-employee directors. The Company has made deferred stock grants that vest over one three During the six June 30, 2021, three six June 30, 2020, December 2020, ( March 2022, March 2023. Employee deferred stock transactions during the six June 30, 2021 Weighted Average Deferred Fair Value Stock Per Share Non-Vested Balance, December 31, 2020 18,800 $ 11.07 Granted 27,900 13.33 Vested — — Forfeited (3,300 ) 11.69 Non-Vested Balance, June 30, 2021 43,400 $ 12.48 Stock-based compensation expense related to the LTI Plan, deferred stock awards, and restricted stock awards is included on the Condensed Consolidated Statements of Operations six June 30, 2021 2020 three June 30, 2021 2020, Stock Option Grants The Company has granted incentive stock options to employees pursuant to the Company’s Stock Plan with an exercise price equal to the market price on the date of grant. The options vest over a 42-month period and expire in 10 years. A summary of stock option activity as of June 30, 2021 six Weighted Weighted Average Average Remaining Aggregate Number of Exercise Contractual Grant Date Stock Options Options Price Term (in years) Fair Value Outstanding at January 1, 2021 9,000 $ 13.30 Granted - - Exercised (3,654 ) 13.30 Expired/Forfeited (5,346 ) 13.30 Outstanding at June 30, 2021 - $ - - $ - Exercisable at June 30, 2021 - $ - - $ - ​

Note 3 - Net Income (Loss) Per

Note 3 - Net Income (Loss) Per Share Computations	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Earnings Per Share [Text Block]	3. The following is a reconciliation of the numerator and denominator of the earnings (loss) per common share computations for the three six June 30, 2021 2020 ​ Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Net income (loss) (numerator) amounts used for basic and diluted per share computations: $ 1,869,084 $ (1,181,197 ) $ 2,420,577 $ (925,976 ) Weighted average shares (denominator) of common stock outstanding: Basic 4,766,824 4,679,122 4,760,660 4,669,350 Plus dilutive effect of stock options — — 8 3,097 Diluted 4,766,824 4,679,122 4,760,668 4,672,447 Net income (loss) per common share: Basic $ 0.39 $ (0.25 ) $ 0.51 $ (0.20 ) Diluted 0.39 (0.25 ) 0.51 (0.20 ) ​ Options to purchase 9,000 shares of common stock at an average price of $13.30 per share were outstanding but not three June 30, 2020 June 30, 2020. June 30, 2021.

Note 4 - General Credit Agreeme

Note 4 - General Credit Agreement	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Debt Disclosure [Text Block]	4. The Company has a general credit and security agreement with a financial institution, which provides a revolving credit line up to $10,000,000 and allows for letters of credit in the aggregate amount of up to $2,000,000 to be issued under the credit agreement. As of June 30, 2021 June 30, 2021 $0.

Note 5 - Operating Segments

Note 5 - Operating Segments	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	5. The Company has four reportable operating segments: horse racing, Card Casino, food and beverage, and development. The horse racing segment primarily represents simulcast and live horse racing operations. The Card Casino segment represents operations of Canterbury Park’s Card Casino. The food and beverage segment represents food and beverage operations provided during simulcast and live racing, in the Card Casino, and during special events. The development segment represents our real estate development operations. The Company’s reportable operating segments are strategic business units that offer different products and services. They are managed separately because the segments differ in the nature of the products and services provided as well as process to produce those products and services. The Minnesota Racing Commission regulates the horse racing and Card Casino segments. Depreciation, interest, and income taxes are allocated to the segments, but no 2020, not first March 16, 2020. The following tables represent a disaggregation of revenues from contracts with customers along with the Company’s operating segments (in 000’s ​ Six Months Ended June 30, 2021 Horse Racing Card Casino Food and Beverage Development Total Net revenues from external customers $ 6,622 $ 16,755 $ 1,720 $ — $ 25,097 Intersegment revenues 1 — 286 — 287 Net interest (expense) income 1 — — 343 344 Depreciation 1,207 75 102 — 1,384 Segment (loss) income before income taxes (686 ) 3,948 49 (775 ) 2,536 Segment tax expense (benefit) 61 1,162 15 (228 ) 1,010 June 30, 2021 Segment Assets $ 47,765 $ 2,876 $ 25,384 $ 27,138 $ 103,163 ​ Six Months Ended June 30, 2020 Horse Racing Card Casino Food and Beverage Development Total Net revenues from external customers $ 4,056 $ 8,356 $ 1,293 $ 12 $ 13,717 Intersegment revenues 74 — 274 — 348 Net interest (expense) income (16 ) — — 199 183 Depreciation 1,038 261 111 — 1,410 Segment (loss) income before income taxes (2,167 ) (167 ) (419 ) 61 (2,692 ) Segment tax expense (benefit) (786 ) (89 ) (224 ) 33 (1,066 ) December 31, 2020 Segment Assets $ 35,620 $ 3,027 $ 24,862 $ 29,475 $ 92,984 ​ The following are reconciliations of reportable segment revenues, income before income taxes, and assets, to the Company’s consolidated totals (in 000’s ​ Six Months Ended June 30, 2021 2021 2020 Revenues Total net revenue for reportable segments $ 25,384 $ 14,065 Elimination of intersegment revenues (287 ) (348 ) Total consolidated net revenues $ 25,097 $ 13,717 ​ Income (loss) before income taxes Total segment income (loss) before income taxes $ 2,536 $ (2,692 ) Elimination of intersegment loss before income taxes 894 699 Total consolidated income before income taxes $ 3,430 $ (1,993 ) ​ June 30, December 31, 2021 2020 Assets Total assets for reportable segments $ 103,163 $ 92,984 Elimination of intercompany balances (23,288 ) (24,179 ) Total consolidated assets $ 79,875 $ 68,805 ​ ​

Note 6 - Commitments and Contin

Note 6 - Commitments and Contingencies	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	6. In accordance with an Earn Out Promissory Note given to the prior owner of the Racetrack as part of the consideration paid by the Company to acquire the Racetrack in 1994, 20% five two two five “ 20% first 90 third 90 four The Company entered into a Cooperative Marketing Agreement (the “CMA”) with the Shakopee Mdewakanton Sioux Community (“SMSC”), which became effective March 4, 2012, first 2015, 2016, 2017, 2018, June 2020 ( 7 December 31, 2022. The Company is periodically involved in various claims and legal actions arising in the normal course of business. Management believes that the resolution of any pending claims and legal actions at June 30, 2021 not In August 2018, not ​

Note 7 - Cooperative Marketing

Note 7 - Cooperative Marketing Agreement	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Collaborative Arrangement Disclosure [Text Block]	7. As discussed above in Note 6, March 4, 2012, no Because the Company conducted a more limited 2020 19 June 8, 2020. 2020. 2021 2022 not Under the CMA, as amended, SMSC also agreed to make “Marketing Payments” to the Company relating to joint marketing efforts for the mutual benefit of the Company and SMSC, including signage, joint promotions, player benefits, and events. As noted above and affirmed in the Fifth Amendment, SMSC is obligated to make an annual purse enhancement of $7,380,000 and annual marketing payment of $1,620,000 for 2022. The amounts earned from the marketing payments are recorded as a component of other revenue and the related expenses are recorded as a component of advertising and marketing expense and depreciation in the Company’s condensed consolidated statements of operations. For the three six June 30, 2021, three six June 30, 2020, Under the CMA, the Company agreed for the term of the CMA, which is currently scheduled to terminate on December 31, 2022, not

Note 8 - Real Estate Developmen

Note 8 - Real Estate Development	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Real Estate Disclosure [Text Block]	8. Equity Investments On April 2, 2018, two 300 On September 27, 2018, December 20, 2018, not In connection with the execution of the Amended Doran Canterbury I Agreement, on August 18, 2018, two 300 July 30, 2020. not On June 16, 2020, two 13 July 1, 2020. not Tax Increment Financing On August 8, 2018, April 2018. August 10, 2018. Under the Redevelopment Agreement, the City of Shakopee has agreed that a portion of the tax increment revenue generated from the developed property will be paid to the Company to reimburse it for its expense in constructing public infrastructure improvements. The total estimated cost of TIF eligible improvements to be borne by the Company is $23,336,500. A detailed Schedule of the Public Improvements under the Redevelopment Agreement, the timeline for their construction and the source and amount of funding is set forth on Exhibit C of the Redevelopment Agreement, which was filed as Exhibit 10.1 10 June 30, 2018. not June 30, 2021, no December 31, 2020, The Company expects to finance its improvements under the Redevelopment Agreement with funds from its current operating resources and existing credit facility and, potentially, third The City of Shakopee has authorized changes to the Redevelopment Agreement and the responsibilities of the Company, but the Company, the City of Shakopee, and other parties have not ​ Development Agreements ​ On April 7, 2020, third first April 2021, two 2022. On April 15, 2020, third April 2021. As a result of these two Condensed Consolidated Statements of Operations three six June 30, 2021.

Note 9 - Leases

Note 9 - Leases	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Leases of Lessee and Commitments Disclosure [Text Block]	9. The Company determines if an arrangement is a lease or contains a lease at inception. The Company leases some office equipment under finance leases. We also lease equipment related to our horse racing operations under operating leases. For lease accounting purposes, we do not As our leases do not not Lease costs related to operating leases were $8,998 and $13,440 for the six June 30, 2021 2020 twelve not six June 30, 2021 2020 Lease costs included in depreciation and amortization related to our finance leases were $11,898 for the six June 30, 2021 2020 The following table shows the classification of the right of use assets on our consolidated balance sheets: June 30, December 31, Balance Sheet Location 2021 2020 Assets Finance Land, buildings and equipment, net (1) $ 59,068 $ 71,784 Operating Operating lease right-of-use assets 36,208 45,057 Total Leased Assets $ 95,276 $ 116,841 1 June 30, 2021 December 31, 2020, The following table shows the lease terms and discount rates related to our leases: June 30, December 31, 2021 2020 Weighted average remaining lease term (in years): Finance 2.2 2.7 Operating 0.7 0.8 Weighted average discount rate (%): Finance 5.0 % 5.0 % Operating 5.5 % 5.5 % ​ The maturity of operating leases and finance leases as of June 30, 2021 Six Months Ended June 30, 2021 Operating leases Finance leases 2021 remaining $ 13,860 $ 14,371 2022 23,100 28,743 2023 — 19,332 Total minimum lease obligations 36,960 62,446 Less: amounts representing interest (752 ) (3,378 ) Present value of minimum lease payments 36,208 59,068 Less: current portion (22,475 ) (26,397 ) Lease obligations, net of current portion $ 13,733 $ 32,671 ​

Note 10 - Related Party Receiva

Note 10 - Related Party Receivables	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	10. In 2019, 2020, first six 2021, two June 30, 2021. The Company has also recorded related party receivables of approximately $31,000 as of June 30, 2021, 2021.

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation and Preparation These condensed consolidated financial statements and accompanying notes should be read in conjunction with the Company’s annual consolidated financial statements and the notes thereto for the fiscal year ended December 31, 2020 10 2020 10 The condensed consolidated balance sheets and the related condensed consolidated statements of operations, stockholders’ equity, and the cash flows for the periods ended June 30, 2021 2020 June 30, 2021 2020
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]	Restricted Cash
Deferred Revenue [Policy Text Block].	Deferred Revenue
Due To Organization [Policy Text Block]	Payable to Horsepersons - $4,226,000 six June 30, 2021 2020 not not
Revenue from Contract with Customer [Policy Text Block]	Revenue Recognition ● Identification of the contract, or contracts, with a customer ● Identification of the performance obligations in the contract ● Determination of the transaction price ● Allocation of the transaction price to the performance obligation in the contract ● Recognition of revenue when, or as, we satisfy a performance obligation The transaction price for a Card Casino contract is a set percentage of wagers and is recognized at the time that the wagering process is complete. The transaction price for pari-mutuel wagering is the commission received on a wager, exclusive of any track fees and is recognized upon occurrence of the live race that is presented for wagering and after that live race is made official by the respective state’s racing regulatory body. The transaction price for food and beverage contracts is the net amount collected from the customer for these goods. Food and beverage services have been determined to be separate, stand-alone performance obligations and the transaction price is recorded as revenue as the good is transferred to the customer when delivery is made. Contracts for Card Casino operations and pari-mutuel wagering involve two not not no We have two 1 2 The Company offers certain promotional allowances at no We evaluate our on-track revenue, export revenue (as described below), and import revenue (as described below) contracts to determine whether we are acting as the principal or as the agent when providing services, to determine if we should report revenue on a gross or net basis. An entity acts as a principal if it controls a specified service before that service is transferred to a customer. For on-track revenue and “import revenue,” that is revenue we generate for racing held elsewhere that our patrons wager on, we are entitled to retain a commission for providing a wagering service to our customers. For these arrangements, we are the principal because we control the wagering service; therefore, any charges, including simulcast fees, we incur for delivering the wagering service are presented as operating expenses. For “export revenue,” when the wagering occurs outside our premises, our customer is the third third For the six June 30, 2021, 19 six June 30, 2020.

Note 2 - Stock-based Compensa_2

Note 2 - Stock-based Compensation (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Nonvested Share Activity [Table Text Block]	Weighted Average Deferred Fair Value Stock Per Share Non-Vested Balance, December 31, 2020 18,800 $ 11.07 Granted 27,900 13.33 Vested — — Forfeited (3,300 ) 11.69 Non-Vested Balance, June 30, 2021 43,400 $ 12.48
Share-based Payment Arrangement, Option, Activity [Table Text Block]	Weighted Weighted Average Average Remaining Aggregate Number of Exercise Contractual Grant Date Stock Options Options Price Term (in years) Fair Value Outstanding at January 1, 2021 9,000 $ 13.30 Granted - - Exercised (3,654 ) 13.30 Expired/Forfeited (5,346 ) 13.30 Outstanding at June 30, 2021 - $ - - $ - Exercisable at June 30, 2021 - $ - - $ -

Note 3 - Net Income (Loss) Pe_2

Note 3 - Net Income (Loss) Per Share Computations (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Net income (loss) (numerator) amounts used for basic and diluted per share computations: $ 1,869,084 $ (1,181,197 ) $ 2,420,577 $ (925,976 ) Weighted average shares (denominator) of common stock outstanding: Basic 4,766,824 4,679,122 4,760,660 4,669,350 Plus dilutive effect of stock options — — 8 3,097 Diluted 4,766,824 4,679,122 4,760,668 4,672,447 Net income (loss) per common share: Basic $ 0.39 $ (0.25 ) $ 0.51 $ (0.20 ) Diluted 0.39 (0.25 ) 0.51 (0.20 )

Note 5 - Operating Segments (Ta

Note 5 - Operating Segments (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Six Months Ended June 30, 2021 Horse Racing Card Casino Food and Beverage Development Total Net revenues from external customers $ 6,622 $ 16,755 $ 1,720 $ — $ 25,097 Intersegment revenues 1 — 286 — 287 Net interest (expense) income 1 — — 343 344 Depreciation 1,207 75 102 — 1,384 Segment (loss) income before income taxes (686 ) 3,948 49 (775 ) 2,536 Segment tax expense (benefit) 61 1,162 15 (228 ) 1,010 June 30, 2021 Segment Assets $ 47,765 $ 2,876 $ 25,384 $ 27,138 $ 103,163 Six Months Ended June 30, 2020 Horse Racing Card Casino Food and Beverage Development Total Net revenues from external customers $ 4,056 $ 8,356 $ 1,293 $ 12 $ 13,717 Intersegment revenues 74 — 274 — 348 Net interest (expense) income (16 ) — — 199 183 Depreciation 1,038 261 111 — 1,410 Segment (loss) income before income taxes (2,167 ) (167 ) (419 ) 61 (2,692 ) Segment tax expense (benefit) (786 ) (89 ) (224 ) 33 (1,066 ) December 31, 2020 Segment Assets $ 35,620 $ 3,027 $ 24,862 $ 29,475 $ 92,984
Reconciliation of Revenue from Segments to Consolidated [Table Text Block]	Six Months Ended June 30, 2021 2021 2020 Revenues Total net revenue for reportable segments $ 25,384 $ 14,065 Elimination of intersegment revenues (287 ) (348 ) Total consolidated net revenues $ 25,097 $ 13,717
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]	Income (loss) before income taxes Total segment income (loss) before income taxes $ 2,536 $ (2,692 ) Elimination of intersegment loss before income taxes 894 699 Total consolidated income before income taxes $ 3,430 $ (1,993 )
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	June 30, December 31, 2021 2020 Assets Total assets for reportable segments $ 103,163 $ 92,984 Elimination of intercompany balances (23,288 ) (24,179 ) Total consolidated assets $ 79,875 $ 68,805

Note 9 - Leases (Tables)

Note 9 - Leases (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Assets, Lessee [Table Text Block]	June 30, December 31, Balance Sheet Location 2021 2020 Assets Finance Land, buildings and equipment, net (1) $ 59,068 $ 71,784 Operating Operating lease right-of-use assets 36,208 45,057 Total Leased Assets $ 95,276 $ 116,841
Lease, Cost [Table Text Block]	June 30, December 31, 2021 2020 Weighted average remaining lease term (in years): Finance 2.2 2.7 Operating 0.7 0.8 Weighted average discount rate (%): Finance 5.0 % 5.0 % Operating 5.5 % 5.5 %
Lessee, Operating and Financing, Lease Liability Maturity [Table Text Block]	Six Months Ended June 30, 2021 Operating leases Finance leases 2021 remaining $ 13,860 $ 14,371 2022 23,100 28,743 2023 — 19,332 Total minimum lease obligations 36,960 62,446 Less: amounts representing interest (752 ) (3,378 ) Present value of minimum lease payments 36,208 59,068 Less: current portion (22,475 ) (26,397 ) Lease obligations, net of current portion $ 13,733 $ 32,671

Note 1 - Overview and Summary_2

Note 1 - Overview and Summary of Significant Accounting Policies (Details Textual) - USD ($)	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Long-term Debt, Total	$ 0
Line of Credit Facility, Maximum Borrowing Capacity	10,000,000
Line of Credit Facility, Remaining Borrowing Capacity	8,750,000
Long-term Line of Credit, Total	0
Funds Due To Organization	4,226,000	$ 1,185,000
Other Income [Member] | COVID-19 Relief Grants [Member]
Revenue from Grant	515,000	$ 0
Other Income [Member] | Convention Center Relief Grant Program [Member]
Revenue from Grant	$ 500,000

Note 2 - Stock-based Compensa_3

Note 2 - Stock-based Compensation (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Non-Employee Board Member Stock Option and Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)			10,710
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)			$ 14
Non-Employee Board Member Stock Option and Restricted Stock [Member] | Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)			10 years
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage			100.00%
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance (in shares)	0		0
Employee Deferred Stock Award [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)			3 years
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)			27,900	47,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)			$ 13.33	$ 11.07
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance (in shares)	43,400		43,400		18,800
Employee Deferred Stock Award [Member] | Share-based Payment Arrangement, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage				60.00%
Employee Deferred Stock Award [Member] | Share-based Payment Arrangement, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage				20.00%
Employee Deferred Stock Award [Member] | Share-based Payment Arrangement, Tranche Three [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage				20.00%
Employee Deferred Stock Award [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)			1 year
Employee Deferred Stock Award [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)			3 years
Deferred Stock Awards [Member]
Share-based Payment Arrangement, Expense	$ 166,000	$ 10,000	$ 270,000	$ 68,000
Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)			10 years
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Month)			42 months

Note 2 - Stock-based Compensa_4

Note 2 - Stock-based Compensation - Unvested Restricted Stock and Deferred Stock (Details) - Employee Deferred Stock Award [Member] - $ / shares	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Non-Vested Balance (in shares)	18,800
Non-Vested Balance, weighted average fair value per share (in dollars per share)	$ 11.07
Granted (in shares)	27,900	47,000
Granted, weighted average fair value per share (in dollars per share)	$ 13.33	$ 11.07
Vested (in shares)	0
Vested, weighted average fair value per share (in dollars per share)	$ 0
Forfeited (in shares)	(3,300)
Forfeited, weighted average fair value per share (in dollars per share)	$ 11.69
Non-Vested Balance (in shares)	43,400
Non-Vested Balance, weighted average fair value per share (in dollars per share)	$ 12.48

Note 2 - Stock-based Compensa_5

Note 2 - Stock-based Compensation - Stock Option Activity (Details) - USD ($)	6 Months Ended
	Jun. 30, 2021
Outstanding (in shares)	9,000
Outstanding, weighted average exercise price (in dollars per share)	$ 13.30
Granted (in shares)	0
Granted, weighted average exercise price (in dollars per share)	$ 0
Exercised (in shares)	(3,654)
Exercised, weighted average exercise price (in dollars per share)	$ 13.30
Expired/Forfeited (in shares)	(5,346)
Expired/Forfeited, weighted average exercise price (in dollars per share)	$ 13.30
Outstanding (in shares)	0
Outstanding, weighted average exercise price (in dollars per share)	$ 0
Outstanding, weighted average remaining contractual term (Year)	0 years
Outstanding, aggregate grant date fair value	$ 0
Exercisable at June 30, 2021 (in shares)	0
ExercisableOutstanding, weighted average exercise price (in dollars per share)	$ 0
Exercisable, weighted average remaining contractual term (Year)	0 years
Exercisable, aggregate grant date fair value	$ 0

Note 3 - Net Income (Loss) Pe_3

Note 3 - Net Income (Loss) Per Share Computations (Details Textual) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share)			$ 0
Share-based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	0	9,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share)		$ 13.30

Note 3 - Net Income (Loss) Pe_4

Note 3 - Net Income (Loss) Per Share Computations - Reconciliation of Net Common Share Computation (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Net income (loss)	$ 1,869,084	$ (1,181,197)	$ 2,420,577	$ (925,976)
Basic (in shares)	4,766,824	4,679,122	4,760,660	4,669,350
Plus dilutive effect of stock options (in shares)	0	0	8	3,097
Weighted Average Diluted Shares (in shares)	4,766,824	4,679,122	4,760,668	4,672,447
Basic earnings (loss) per share (in dollars per share)	$ 0.39	$ (0.25)	$ 0.51	$ (0.20)
Diluted earnings (loss) per share (in dollars per share)	$ 0.39	$ (0.25)	$ 0.51	$ (0.20)

Note 4 - General Credit Agree_2

Note 4 - General Credit Agreement (Details Textual)	Jun. 30, 2021USD ($)
Line of Credit Facility, Maximum Borrowing Capacity	$ 10,000,000
Line of Credit Facility, Remaining Borrowing Capacity	8,750,000
Long-term Line of Credit, Total	0
Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	10,000,000
Letter of Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity	2,000,000
Line of Credit, Current	$ 1,250,000

Note 5 - Operating Segments (De

Note 5 - Operating Segments (Details Textual)	6 Months Ended
	Jun. 30, 2021
Number of Reportable Segments	4
Source of Revenues of Horse Racing Segment	25.00%

Note 5 - Operating Segments - D

Note 5 - Operating Segments - Disaggregation of Revenue from Contracts with Customers (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Net Revenues	$ 15,871,818	$ 2,767,855	$ 25,097,360	$ 13,716,814
Interest income, net	175,090	169,358	344,400	333,048
Depreciation			1,383,753	1,410,493
Segment (loss) income before income taxes	2,626,681	(2,298,860)	3,430,398	(1,993,475)
Segment tax expense (benefit)	757,597	$ (1,117,663)	1,009,821	(1,067,499)
Segment Assets	79,875,461		79,875,461		$ 68,804,787
Operating Segments [Member]
Net Revenues			25,097,000	13,717,000
Interest income, net			344,000	183,000
Depreciation			1,384,000	1,410,000
Segment (loss) income before income taxes			2,536,000	(2,692,000)
Segment tax expense (benefit)				(1,066,000)
Segment Assets	103,163,000		103,163,000		92,984,000
Intersegment Eliminations [Member]
Net Revenues			287,000	348,000
Segment (loss) income before income taxes			894,000	699,000
Segment Assets	(23,288,000)		(23,288,000)		(24,179,000)
Horse Racing [Member]
Segment tax expense (benefit)			61,000
Horse Racing [Member] | Operating Segments [Member]
Net Revenues			6,622,000	4,056,000
Interest income, net			1,000	(16,000)
Depreciation			1,207,000	1,038,000
Segment (loss) income before income taxes			(686,000)	(2,167,000)
Segment tax expense (benefit)				(786,000)
Segment Assets	47,765,000		47,765,000		35,620,000
Horse Racing [Member] | Intersegment Eliminations [Member]
Net Revenues			1,000	74,000
Card Casino [Member]
Segment tax expense (benefit)			1,162,000
Card Casino [Member] | Operating Segments [Member]
Net Revenues			16,755,000	8,356,000
Interest income, net			0	0
Depreciation			75,000	261,000
Segment (loss) income before income taxes			3,948,000	(167,000)
Segment tax expense (benefit)				(89,000)
Segment Assets	2,876,000		2,876,000		3,027,000
Card Casino [Member] | Intersegment Eliminations [Member]
Net Revenues			0	0
Food and Beverage Segment [Member]
Segment tax expense (benefit)			15,000
Food and Beverage Segment [Member] | Operating Segments [Member]
Net Revenues			1,720,000	1,293,000
Interest income, net			0	0
Depreciation			102,000	111,000
Segment (loss) income before income taxes			49,000	(419,000)
Segment tax expense (benefit)				(224,000)
Segment Assets	25,384,000		25,384,000		24,862,000
Food and Beverage Segment [Member] | Intersegment Eliminations [Member]
Net Revenues			286,000	274,000
Development [Member]
Segment tax expense (benefit)			(228,000)
Development [Member] | Operating Segments [Member]
Net Revenues			0	12,000
Interest income, net			343,000	199,000
Depreciation			0	0
Segment (loss) income before income taxes			(775,000)	61,000
Segment tax expense (benefit)				33,000
Segment Assets	$ 27,138,000		27,138,000		$ 29,475,000
Development [Member] | Intersegment Eliminations [Member]
Net Revenues			$ 0	$ 0

Note 5 - Operating Segments - R

Note 5 - Operating Segments - Reconciliation of Segment Revenues, Income Before Income Taxes, and Assets (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenues	$ 15,871,818	$ 2,767,855	$ 25,097,360	$ 13,716,814
Reportable Legal Entities [Member]
Revenues			25,384,000	14,065,000
Intersegment Eliminations [Member]
Revenues			$ 287,000	$ 348,000

Note 5 - Operating Segments- In

Note 5 - Operating Segments- Income Before Income Taxes (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income before income taxes	$ 2,626,681	$ (2,298,860)	$ 3,430,398	$ (1,993,475)
Reportable Legal Entities [Member]
Income before income taxes			2,536,000	(2,692,000)
Intersegment Eliminations [Member]
Income before income taxes			$ 894,000	$ 699,000

Note 5 - Operating Segments- As

Note 5 - Operating Segments- Assets (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Total consolidated assets	$ 79,875,461	$ 68,804,787
Reportable Legal Entities [Member]
Total consolidated assets	103,163,000	92,984,000
Intersegment Eliminations [Member]
Total consolidated assets	$ (23,288,000)	$ (24,179,000)

Note 6 - Commitments and Cont_2

Note 6 - Commitments and Contingencies (Details Textual)	6 Months Ended
	Jun. 30, 2021USD ($)yr
Off Track Betting Payment Per Operating Year | $	$ 700,000
Minimum Number Of Payments Provided Conditions Are Met (Year) | yr	5
Off-track Betting Payment Per Operating Year Percentage Of Net Pretax Profit Payment	20.00%

Note 7 - Cooperative Marketin_2

Note 7 - Cooperative Marketing Agreement (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Jun. 08, 2020
Obligation by Third Party Per Agreement Due In Next Twelve Months					$ 5,620,000
Obligation by Third Party Per Agreement, Due Remainder of Fiscal Year					$ 7,380,000
Revenue from Contract with Customer, Including Assessed Tax	$ 15,871,818	$ 2,767,855	$ 25,097,360	$ 13,716,814
Marketing and Advertising Expense, Total	373,604	38,176	430,056	222,164
Depreciation, Total			1,383,753	1,410,493
Product and Service, Other [Member]
Revenue from Contract with Customer, Including Assessed Tax	1,166,400	440,940	1,999,333	1,413,706
Cooperative Marketing Agreement (CMA)1 [Member]
Marketing Agreement, Purse Enhancement Obligation, to be Paid, Year One	7,380,000		7,380,000
Marketing Agreement, Marketing Payment Obligation, to be Paid, Year One	1,620,000		1,620,000
Marketing and Advertising Expense, Total	342,000	215,000	365,000	245,000
Depreciation, Total	24,000	38,000	48,000	76,000
Cooperative Marketing Agreement (CMA)1 [Member] | Product and Service, Other [Member]
Revenue from Contract with Customer, Including Assessed Tax	$ 366,000	$ 253,000	$ 413,000	$ 321,000

Note 8 - Real Estate Developm_2

Note 8 - Real Estate Development (Details Textual)	Apr. 15, 2020USD ($)a	Apr. 07, 2020USD ($)a	Apr. 30, 2021USD ($)a	Jun. 30, 2021USD ($)	Jun. 30, 2021USD ($)	Dec. 31, 2020USD ($)	Jul. 30, 2020	Jun. 30, 2020a	Jun. 16, 2020a	Sep. 27, 2018a
Area of Land (Acre) | a	2.4	11.3	7.4
TIF Improvement Costs				$ 23,336,500	$ 23,336,500
Income Taxes Receivable, Noncurrent				12,202,609	12,202,609	$ 11,888,570
Income Tax Receivable Interest				1,004,000	1,004,000
Estimated Cost of Tax Increment Financing Eligible Improvements, Expected Reduction					7,670,000
Proceeds from Sale of Land Held-for-investment	$ 1,100,000	$ 2,400,000	$ 1,200,000
Land [Member]
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property				264,000	264,000
State and Local Jurisdiction [Member]
Income Taxes Receivable, Noncurrent				12,203,000	12,203,000	11,889,000
Income Tax Receivable Principal				$ 11,199,000	$ 11,199,000	11,191,000
Income Tax Receivable Interest						$ 698,000
Doran Canterbury II [Member]
Area of Land (Acre) | a								10		13
Equity Method Investment, Ownership Percentage							27.40%			27.40%
Doran Canterbury II [Member] | Doran Canterbury II, LLC [Member]
Equity Method Investment, Ownership Percentage							72.60%
Canterbury DBSV [Member]
Area of Land (Acre) | a									13
Equity Method Investment, Ownership Percentage									61.87%

Note 9 - Leases (Details Textua

Note 9 - Leases (Details Textual) - USD ($)	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Operating Lease, Cost	$ 8,998	$ 13,440
Operating Lease, Expense	191,074	$ 147,119
Finance Lease, Right-of-Use Asset, Amortization	11,898
Finance Lease, Right-of-Use Asset, Accumulated Amortization	$ 66,491		$ 53,853

Note 9 - Leases - Classificatio

Note 9 - Leases - Classification of Right of Use Assets (Details) - USD ($)		Jun. 30, 2021	Dec. 31, 2020
Finance	[1]	$ 59,068	$ 71,784
Operating		36,208	45,057
Total Leased Assets		$ 95,276	$ 116,841
[1]	Finance lease assets are net of accumulated amortization of $66,491 and $53,853 as of June 30, 2021 and December 31, 2020, respectively.

Note 9 - Leases - Lease Terms a

Note 9 - Leases - Lease Terms and Discount (Details)	Jun. 30, 2021	Dec. 31, 2020
Finance (Year)	2 years 2 months 12 days	2 years 8 months 12 days
Operating (Year)	8 months 12 days	9 months 18 days
Finance	5.00%	5.00%
Operating	5.50%	5.50%

Note 9 - Leases - Operating and

Note 9 - Leases - Operating and Finance Lease (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
2021 remaining, operating lease	$ 13,860
2021 remaining, finance lease	14,371
2022, operating lease	23,100
2022, finance lease	28,743
2023, operating lease	0
2023, finance lease	19,332
Total minimum lease obligations, operating lease	36,960
Total minimum, finance lease	62,446
Less: amounts representing interest, operating lease	(752)
Less: amounts representing interest, finance lease	(3,378)
Present value of minimum lease payments, operating lease	36,208
Present value of minimum lease payments, finance lease	59,068
Less: current portion, operating lease	(22,475)	$ (22,271)
Less: current portion, finance lease	(26,397)	(25,749)
Lease obligations, net of current portion, operating lease	13,733	22,786
Lease obligations, net of current portion, finance lease	$ 32,671	$ 46,035

Note 10 - Related Party Recei_2

Note 10 - Related Party Receivables (Details Textual)	Jun. 30, 2021USD ($)
Accounts Receivable, Related Parties, Current	$ 31,000
Doran Canterbury I and II Joint Ventures [Member]
Notes Receivable, Related Parties	1,699,000
Interest Receivable	$ 79,000
Doran Canterbury I and II Joint Ventures [Member] | Prime Rate [Member]
Financing Receivable, Interest Rate	2.00%