Canterbury Park Holding 10-Q15 May 142014 Q1 Quarterly reportFinancial data

Company Profile

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
Document And Entity Information	Mar. 31, 2014	13-May-14
Document And Entity Information [Abstract]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	31-Mar-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q1	'
Entity Registrant Name	'CANTERBURY PARK HOLDING CORP	'
Entity Central Index Key	'0000926761	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Common Stock, Shares Outstanding	'	4,182,564

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Mar. 31, 2014	Dec. 31, 2013
CURRENT ASSETS	'	'
Cash and cash equivalents	$10,168,610	$8,739,209
Restricted cash	1,791,378	1,139,003
Short-term investments	204,138	203,902
Accounts receivable, net of allowance of $40,269 for both periods	358,086	338,971
Inventory	214,039	244,281
Prepaid expenses	513,962	624,553
Deferred income taxes	255,100	333,300
Income taxes receivable	15,711	330,672
Due from Minnesota horsemen associations	'	2,355
Total current assets	13,521,024	11,956,246
LONG-TERM ASSETS	'	'
Deposits	26,400	26,400
Land, buildings and equipment, net of accumulated depreciation of $22,784,491 and $22,314,286, respectively	24,909,775	25,129,986
Total assets	38,457,199	37,112,632
CURRENT LIABILITIES	'	'
Accounts payable	3,114,702	3,502,871
Card Casino accruals	2,203,831	1,546,123
Accrued wages and payroll taxes	1,093,434	946,111
Due to MHBPA	152,754	'
Accrued property taxes	811,843	650,797
Payable to horsepersons	188,879	8,201
Total current liabilities	7,565,443	6,654,103
LONG-TERM LIABILITIES	'	'
Deferred income taxes	1,575,400	1,726,100
Stock appreciation rights	558,026	467,380
Total long-term liabilities	2,133,426	2,193,480
COMMITMENTS AND CONTINGENCIES (Note 6)	'	'
STOCKHOLDERS' EQUITY	'	'
Common stock, $.01 par value, 10,000,000 shares authorized, 4,181,083 and 4,177,951, respectively, shares issued and outstanding	41,811	41,779
Additional paid-in capital	17,357,857	17,270,615
Retained earnings	11,358,662	10,952,655
Total stockholders' equity	28,758,330	28,265,049
Total liabilities and stockholders' equity	$38,457,199	$37,112,632

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Condensed Consolidated Balance Sheets [Abstract]	'	'
Accounts receivable, allowance	$40,269	$40,269
Land, buildings and equipment, accumulated depreciation	$22,784,491	$22,314,286
Common stock, par value	$0.01	$0.01
Common stock, shares authorized	10,000,000	10,000,000
Common stock, shares issued	4,181,083	4,177,951
Common stock, shares outstanding	4,181,083	4,177,951

Condensed_Consolidated_Stateme

Condensed Consolidated Statements Of Operations (USD $)	3 Months Ended
Condensed Consolidated Statements Of Operations (USD $)	Mar. 31, 2014	Mar. 31, 2013
OPERATING REVENUES:	'	'
Pari-mutuel	$1,529,632	$1,576,958
Card Casino	6,420,171	6,343,283
Concessions	968,407	847,426
Other	492,443	410,892
Total Revenues	9,410,653	9,178,559
Less: Promotional allowances	-36,199	-33,991
Net Revenues	9,374,454	9,144,568
OPERATING EXPENSES:	'	'
Purse expense	860,143	865,113
Minnesota Breeders' Fund	147,990	148,333
Other pari-mutuel expenses	337,907	328,935
Salaries and benefits	4,209,822	4,408,990
Cost of concession and other sales	536,734	524,866
Depreciation	526,620	446,640
Utilities	323,483	266,330
Advertising and marketing	145,885	181,323
Loss on disposal of assets	'	4,948
Other operating expenses	1,593,039	1,463,462
Total Operating Expenses	8,681,623	8,638,940
INCOME FROM OPERATIONS	692,831	505,628
OTHER INCOME	'	'
Interest income	637	1,101
Net Other Income	637	1,101
INCOME BEFORE INCOME TAXES	693,468	506,729
INCOME TAX EXPENSE	-287,461	-215,648
NET INCOME	$406,007	$291,081
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING	4,180,547	4,149,437
WEIGHTED AVERAGE NUMBER OF DILUTIVE SHARES OUTSTANDING	4,198,878	4,170,767
BASIC NET INCOME PER COMMON SHARE	$0.10	$0.07
DILUTED NET INCOE PER COMMON SHARE	$0.10	$0.07

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements Of Cash Flows (USD $)	3 Months Ended
Condensed Consolidated Statements Of Cash Flows (USD $)	Mar. 31, 2014	Mar. 31, 2013
Operating Activities:	'	'
Net income	$406,007	$291,081
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Depreciation	526,620	446,640
Stock-based compensation expense	60,370	69,034
(Decrease) increase in deferred income taxes	-72,499	39,300
Loss on disposal of assets	'	4,948
Changes in operating assets and liabilities:	'	'
(Increase) decrease in restricted cash	-652,375	600,653
Increase in accounts receivable	-19,115	-132,084
Decrease (increase) in other current assets	140,833	-84,227
Decrease (increase) in income taxes receivable	314,961	-94,652
Increase in accounts payable and accrued wages and payroll taxes	290,080	949,721
Increase (decrease) in Card Casino accruals	657,708	-44,012
Increase in stock appreciation rights	90,646	64,244
Increase in accrued property taxes	161,046	161,820
Increase in payable to horsepersons	180,678	31,311
Increase (decrease) in due to MHBPA	155,109	-389,579
Net cash provided by operating activities	2,240,069	1,914,198
Investing Activities:	'	'
Additions to buildings and equipment	-837,336	-1,010,865
Purchase of investments	-236	-386
Net cash used in investing activities	-837,572	-1,011,251
Financing Activities	'	'
Common stock repurchases	'	-7,509
Proceeds from issuance of common stock	26,904	15,442
Net cash provided by financing activities	26,904	7,933
Net increase in cash and cash equivalents	1,429,401	910,880
Cash and cash equivalents at beginning of period	8,739,209	9,384,983
Cash and cash equivalents at end of period	10,168,610	10,295,863
Supplemental disclosure of non-cash investing and financing activities:	'	'
Additions to buildings and equipment funded through accounts payable	58,303	151,299
Supplemental disclosure of cash flow information:	'	'
Income taxes paid, net of refunds	$45,000	$271,000

Summary_Of_Significant_Account

Summary Of Significant Accounting Policies	3 Months Ended
Summary Of Significant Accounting Policies	Mar. 31, 2014
Summary Of Significant Accounting Policies [Abstract]	'
Summary Of Significant Accounting Policies	'
	1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

	Business – Canterbury Park Holding Corporation (the “Company”) was incorporated under the laws of Minnesota and acquired land and buildings to conduct pari-mutuel horse racing operations (the “Racetrack”) in March 1994. The Racetrack is located in Shakopee, Minnesota, approximately 25 miles southwest of downtown Minneapolis. In May 1994, the Company commenced year-round horse racing simulcast operations and hosted the first annual live race meet during the summer of 1995. The Company’s live racing operations are a seasonal business as it hosts live race meets each year from May until September. The Company earns additional pari-mutuel revenue by televising its live racing to out-of-state racetracks around the country. Canterbury Park’s Card Casino operates 24 hours a day, seven days a week and is limited by Minnesota State law to conducting card play on a maximum of 80 tables, and, prior to May 4, 2012, the Company was limited by law to conducting card play on a maximum of 50 tables. The Card Casino currently offers a variety of poker and table games. The Company’s three largest sources of revenues, Card Casino operations, pari-mutuel operations and concession sales, generate cash revenues. The Company also derives revenues from related services and activities, such as parking, advertising signage, publication sales, and from other entertainment events and activities held at the Racetrack.

	Revenue Recognition – The Company’s revenues are derived primarily from the operations of a Card Casino, pari-mutuel wagering on simulcast and live horse races, concession sales, and related activities. Collection revenue from Card Casino operations, a set percentage of wagers, is recognized at the time that the wagering process is complete. Pari-mutuel revenues are 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. Revenues related to concession and publication sales and parking and admission fees are recognized as revenue when the service has been performed or the product has been delivered. All sales taxes are presented on a net basis and are excluded from revenue.

	Estimates – The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates.

	Cash and Cash Equivalents – Cash and cash equivalents include all investments with original maturities of three months or less or which are readily convertible into known amounts of cash and are not legally restricted. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk on cash and cash equivalents.

	Restricted Cash – Restricted cash represents refundable deposits and amounts due to horsemen for purses, stakes and awards, and amounts accumulated in card game progressive jackpot pools, the player pool and poker promotional fund to be used to repay card players in the form of promotions, giveaways, prizes, or by other means.

	Short-term Investments – Securities are classified as held to maturity when the Company has the positive intent and ability to hold them to maturity, and are measured at amortized cost. At March 31, 2014 and December 31, 2013, all investments were classified as held to maturity. The Company continually reviews its investments to determine whether a decline in fair value below the cost basis is other than temporary. If the decline in fair value is judged to be other than temporary, the cost basis of the security is written down to fair value and the amount of the write-down is included in earnings. Short-term investments consist of certificates of deposit at March 31, 2014 and December 31, 2013. Amortized cost approximated fair value for both periods.

	Accounts Receivable – Accounts receivable are initially recorded for amounts due from other tracks for simulcast revenue, net of amounts due to other tracks, and for amounts due from customers related to special events. Credit is granted in the normal course of business without collateral. Accounts receivable are stated net of allowances for doubtful accounts, which represent estimated losses resulting from the inability of customers to make the required payments. Accounts that are outstanding longer than the contractual terms are considered past due. When determining the allowances for doubtful accounts, the Company takes several factors into consideration including the overall composition of the accounts receivable aging, its prior history of accounts receivable write-offs, the type of customers and its day-to-day knowledge of specific customers. The Company writes off accounts receivable when they become uncollectible. Changes in the allowances for doubtful accounts are recorded as bad debt expense and are included in other operating expenses in the Company’s consolidated statements of operations.

	Inventory – Inventory consists primarily of food and beverages, small wares and supplies, and retail goods and is recorded at the lower of cost (first-in, first-out) or market.

	Unredeemed Pari-mutuel Tickets – The Company records a liability for winning tickets upon the completion of a race and for vouchers when a voucher is printed. As uncashed winning tickets and vouchers are redeemed, this liability is reduced for the respective cash payment. The Company recognizes revenue associated with the uncashed winning tickets and vouchers when the likelihood of redemption, based on historical experience, is remote. While the Company continues to honor all winning tickets and vouchers presented for payment, management may determine the likelihood of redemption to be remote due to the length of time that has elapsed since the ticket was issued. In these circumstances, if management also determines there is no requirement for remitting balances to government agencies under unclaimed property laws, uncashed winning tickets and vouchers may then be recognized as revenue in the Company’s consolidated statements of operations.

	Promotional Allowances – The Company offers certain promotional allowances at no charge to patrons who participate in its player rewards program. The retail value of these promotional items is shown as a deduction from total revenues on the Company’s consolidated statements of operations.

	Due to Minnesota Horsemen’s Benevolent and Protective Association, Inc. (“MHBPA”) – The Minnesota Pari-mutuel Horse Racing Act specifies that the Company is required to segregate a portion of funds (recorded as purse expense in the statements of operations), received from Card Casino operations and wagering on simulcast and live horse races, for future payment as purses for live horse races or other uses of the horsepersons’ associations. Pursuant to an agreement with the MHBPA, the Company transferred into a trust account or paid directly to the MHBPA, approximately $650,000 and $1,200,000 for the three-month periods ended March 31, 2014 and 2013, respectively, related to thoroughbred races. Minnesota Statutes specify that amounts transferred into the trust account are the property of the trust and not of the Company.

	Impairment of Long-Lived Assets – Management of the Company periodically reviews the carrying value of property and equipment for potential impairment by comparing the carrying value of these assets with their related expected undiscounted future net cash flows. Should the sum of the related expected future net cash flows be less than the carrying value, management will determine whether an impairment loss should be recognized. An impairment loss would be measured by the amount by which the carrying value of the asset exceeds the fair value of the asset. Management has determined that no impairment of these assets exists at March 31, 2014.

	Advertising and Marketing – Advertising and marketing costs are charged to expense as incurred. The related amounts are presented separately in the Company’s consolidated statements of operations.

	Land, Buildings, and Equipment – Land, buildings, equipment, and building improvements are capitalized at a level of $1,000 or greater and are recorded at cost. Repair and maintenance costs are charged to operations when incurred. Furniture, fixtures, and equipment are depreciated using the straight-line method over estimated useful lives ranging from 5 – 7 years, while buildings are depreciated over 15 – 39 years. Building improvements are amortized using the straight-line method over the useful life of the assets.

	Card Casino Accruals – Minnesota law allows the Company to collect amounts from patrons to fund progressive jackpot pools in the Card Casino. These amounts, along with amounts earned by the player pool, promotional pools, and the outstanding chip liability, are accrued as short-term liabilities at each balance sheet date.

	Income Taxes – Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to reverse.

	The Company recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more likely than not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the relevant tax authority.

	Interest and penalties associated with uncertain income tax positions are presented in income tax expense. For the three months ended March 31, 2014 and 2013, the Company did not recognize any expense related to interest and penalties.

	Net Income Per Share – Basic net income per common share is based on the weighted average number of common shares outstanding during each year. Diluted net income per common share takes into effect the dilutive effect of potential common shares outstanding. The Company’s only potential common shares outstanding are stock options.

	Fair Values of Financial Instruments – Due to the current classification of all financial instruments of the Company and given the short-term nature of the related account balances, carrying amounts reported in the consolidated balance sheets approximate fair value.

	Stock-Based Employee Compensation – The Company accounts for share-based compensation awards on a fair value basis. The estimated grant date fair value of each stock-based award is recognized as expense over the requisite service period (generally the vesting period). The estimated fair value of each option is calculated using the Black-Scholes option-pricing model.

StockBased_Compensation

Stock-Based Compensation	3 Months Ended
Stock-Based Compensation	Mar. 31, 2014
Stock-Based Compensation [Abstract]	'
Stock-Based Compensation	'
	2. STOCK-BASED COMPENSATION

	Stock-based compensation is recorded at fair value as of the date of grant and included in the salaries and benefits expense line item on the consolidated statements of operations and amounted to $60,370 and $69,034 for the three months ended March 31, 2014 and 2013, respectively.

	Board of Directors Stock Option and Restricted Stock Grants

	The Company’s Stock Plan authorizes annual grants of restricted stock or stock options, or both, as determined by the Board. Pursuant to the amended Stock Plan, on June 7, 2012, 2,364 shares of restricted stock were granted to each of the five non-employee members of the Board of Directors with a price per share equal to the market price on the date of grant of $12.69. The restricted stock vested after one year and is subject to restrictions on resale for an additional year. The compensation cost associated with the total grant of 11,820 shares for the three months ended March 31, 2013 was $37,499. As of March 31, 2014, there was no unrecognized compensation cost related to this restricted stock grant.

	Additionally, on January 4, 2013, 1,250 shares of restricted stock were granted to a newly named non-employee member of the Board of Directors with a price per share equal to the market price on the date of grant of $10.00. The restricted stock vested after one year and is subject to restrictions on resale for an additional year. The compensation cost associated with this restricted stock grant of 1,250 shares for the three months ended March 31, 2013 was $3,125. As of March 31, 2014, there was no unrecognized compensation cost related to this restricted stock grant.

	Finally, on May 30, 2013, 2,840 shares of restricted stock were granted to each of the six non-employee members of the Board of Directors with a price per share equal to the market price on the date of grant of $10.56. The restricted stock will vest 100% after one year and will be subject to restrictions on resale for an additional year. The compensation cost associated with the total grant of 17,040 shares for the three months ended March 31, 2014 was $44,986. As of March 31, 2014, there was $29,990 of total unrecognized compensation cost related to this restricted stock grant which is expected to be recognized over 0.2 years.





	The number of shares that may be issued pursuant to restricted stock granted and the weighted average fair value during the periods presented is summarized below:


			Three Months Ended
			31-Mar-14						31-Mar-13
						Weighted						Weighted
						Average						Average
						Fair Value						Fair Value
			Grant			Per Share			Grant			Per Share

	Board restricted stock			-		$	-			1,250		$	10.00

	Total shares			-						1,250



	Employee Stock Option and Deferred Stock Award Grants

	On February 25, 2010, 86,500 incentive stock options were granted to employees pursuant to the Company’s Stock Plan with an exercise price equal to the market price on the date of grant of $8.28. The options vested over a 42-month period and expire in ten years. The compensation cost associated with this grant of employee options was $282,355 and was recognized as expense over the 42-month vesting period. The compensation cost associated with these options included in salaries and benefits expense for the three months ended March 31, 2013 was $17,647. As of March 31, 2014, there was no unrecognized compensation cost related to these stock options.

	Additionally, on December 13, 2012, 20,500 shares of deferred stock awards were granted to employees pursuant to the Company’s Stock Plan with a price per share equal to the market price on the date of grant of $9.84. The awards vest ratably over a four-year period. The compensation cost associated with this grant of employee awards is $172,200 to be recognized as expense over the four-year vesting period. The compensation cost related to these awards included in salaries and benefits expense for the three months ended March 31, 2014 and 2013 was $10,763 for each period. As of March 31, 2014, there was $116,594 of total unrecognized compensation cost related to these deferred stock awards which is expected to be recognized over 2.7 years.

	Finally, on March 18, 2014, 23,500 shares of deferred stock awards were granted to employees pursuant to the Company’s Stock Plan with a price per share equal to the market price on the date of grant of $10.46. The awards vest ratably over a four-year period. The compensation cost associated with this grant of employee awards is $221,844 to be recognized as expense over the four-year vesting period. The compensation cost related to these awards included in salaries and benefits expense for the three months ended March 31, 2014 was $4,622. As of March 31, 2014, there was $217,222 of total unrecognized compensation cost related to these deferred stock awards which is expected to be recognized over 3.9 years.

	A summary of stock option activity as of March 31, 2014 and changes during the three months then ended is presented below:



									Weighted
						Weighted			Average
						Average			Remaining			Aggregate
			Number of			Exercise			Contractual			Grant Date
	Stock Options		Shares			Price			Term			Fair Value

	Outstanding at January 1, 2014			271,752		$	9.99

	Granted			-			-
	Exercised			-1,000			7.14
	Expired/Forfeited			-12,000			16.68

	Outstanding at March 31, 2014			258,752		$	9.69			4.6 Years		$	2,507,037

	Exercisable at March 31, 2014			258,752		$	9.69			4.6 Years		$	2,507,037




A summary of stock option activity as of March 31, 2013 and changes during the three months then ended is presented below:


								Weighted
					Weighted			Average
					Average			Remaining			Aggregate
		Number of			Exercise			Contractual			Grant Date
Stock Options		Shares			Price			Term			Fair Value

Outstanding at January 1, 2013			292,267		$	10.13

Granted			-			-
Exercised			-			-
Expired/Forfeited			-15,000			13.86

Outstanding at March 31, 2013			277,267		$	9.93			5.4 Years		$	2,753,697

Exercisable at March 31, 2013			257,142		$	10.06			5.3 Years		$	2,587,062


Employee Stock Ownership Plan

Prior to 2008, the Company contributed shares of its common stock to its Employee Stock Ownership Plan (the “ESOP”). However, no contributions have been made from January 1, 2008 to date, and the Company has not taken any action to reinstate contributions to the ESOP. During the first quarter of 2013, the Company’s Board of Directors approved an action to combine the ESOP with the 401(k) Plan to create a KSOP Plan. This KSOP Plan authorizes the Company to issue Company stock to match contributions from its employees should it so choose. This combination became effective on July 15, 2013. No shares were issued as matching contributions to the KSOP in the first quarter of 2014 or during calendar year 2013.

Employee Stock Purchase Plan

On April 3, 1995, the Board of Directors adopted an Employee Stock Purchase Plan (the “ESPP”). The ESPP currently gives employees the right to purchase Company stock at a 10% discount from fair market value at the end of each fiscal quarter. Employees purchased 2,132 and 2,101 shares during the first quarter of 2014 and 2013, respectively. As of March 31, 2014, a total of 262,083 shares have been issued since inception out of the 350,000 shares authorized.


Stock Appreciation Rights (“SARs”)

As part of the Cooperative Marketing Agreement discussed in Note 7, on June 14, 2012, the Company signed a Stock Appreciation Rights Agreement (the “SAR Agreement”) and issued SARs to non-employees. The SAR Agreement granted rights to non-employees to benefit from the appreciation in the value of 165,000 shares of Company common stock above $14.30 per share, a price agreed upon by the two parties. Each right represents the right to be paid the appreciation in the value of one share of stock above $14.30. Ten percent of the rights (16,500 rights) vested immediately and the remaining rights vest at the rate of 16,500 per year beginning in January 2013. As of March 31, 2014, 49,500 rights had vested. The SAR Agreement provides for the cash payment of the excess of the fair market value of Canterbury Park Holding Corporation’s common stock price on the date of exercise over the grant price. SARs have no effect on dilutive shares or shares outstanding as any appreciation of the Company’s common stock value over the grant price is paid in cash and not in common stock. The SAR Agreement and all rights granted expire on December 31, 2022.
The fair value of SARs is revalued (mark-to-market) each reporting period using the Black-Scholes valuation model based on the Company’s period-end stock price. The expected term of the SARs granted is based on the contractual term. Expected volatility is based on the historical volatility of the Company’s stock for the length of time corresponding to the expected term of the SARs. The expected dividend yield is based on the Company’s anticipated dividend payments. The risk-free interest rate is based on the U.S. treasury yield curve in effect as of the reporting date for the length of time corresponding to the expected term of the SARs.

The following weighted-average assumptions were used in calculating the fair value of SARs granted during the three-month periods ended March 31, 2014 and 2013, using the Black-Scholes valuation model;



		2014			2013
Expected dividend yield			0.00	%		0.00	%
Expected weighted-average volatility			50.0	%		47.9	%
Risk-free interest rate			2.55	%		1.77	%
Expected term of SARs (in years)			8.75			9.75
There have been no exercises of SARs as of March 31, 2014. The total liability of the SARs at March 31, 2014 was $558,026.
Changes to the Company’s non-vested SARs during the three months ended March 31, 2014 are as follows:



		SARs			Weighted Average Fair Value
Non-vested SARs at December 31, 2013			132,000		$	5.41
Granted			—			—
Vested			-16,500		$	6.02
Cancellations			—			—
Non-vested SARs at March 31, 2014			115,500		$	6.02

Changes to the Company’s non-vested SARs during the three months ended March 31, 2013 are as follows:



		SARs			Weighted Average Fair Value
Non-vested SARs at December 31, 2012			148,500		$	5.24
Granted			—			—
Vested			-16,500		$	5.03
Cancellations			—			—
Non-vested SARs at March 31, 2013			132,000		$	5.03

Net_Income_Per_Share_Computati

Net Income Per Share Computations	3 Months Ended
Net Income Per Share Computations	Mar. 31, 2014
Net Income Per Share Computations [Abstract]	'
Net Income Per Share Computations	'
	3. NET INCOME PER SHARE COMPUTATIONS





	The following is a reconciliation of the numerator and denominator of the earnings per common share computations for the three months ended March 31, 2014 and 2013:



		Three		Three
		Months		Months
		Ended		Ended
		March 31,		March 31,
		2014		2013
	Net income (numerator) amounts used for basic and diluted per share computations	$	406,007	$	291,081

	Weighted average shares (denominator) of common stock outstanding:
	Basic		4,180,547		4,149,437
	Plus dilutive effect of stock options		18,331		21,330
	Diluted		4,198,878		4,170,767

	Net income per common share:
	Basic	$	0.1	$	0.07
	Diluted		0.1		0.07

	Options to purchase 92,500 shares of common stock at an average price of $14.15 per share were outstanding but not included in the computation of diluted net income per share for the three months ended March 31, 2014 because the options were out of the money at March 31, 2014.

	Options to purchase 104,500 shares of common stock at an average price of $14.44 per share were outstanding but not included in the computation of diluted net income per share for the three months ended March 31, 2013 because the options were out of the money at March 31, 2013.

General_Credit_Agreement

General Credit Agreement	3 Months Ended
General Credit Agreement	Mar. 31, 2014
General Credit Agreement [Abstract]	'
General Credit Agreement	'
	4. GENERAL CREDIT AGREEMENT

	The Company has a general credit and security agreement with Bremer Bank, which provides a revolving credit line of up to $3,000,000. The Company had no borrowings under the credit line during the three months ended March 31, 2014 or the year ended December 31, 2013. The credit agreement contains certain covenants requiring the Company to maintain certain financial ratios. The Company was in compliance with these requirements as of March 31, 2014. On May 5, 2014, the Company signed an amendment with Bremer Bank extending the expiration date from May 5, 2014 to May 4, 2015, while keeping previous provisions intact.

Operating_Segments

Operating Segments	3 Months Ended
Operating Segments	Mar. 31, 2014
Operating Segments [Abstract]	'
Operating Segments	'
	5. OPERATING SEGMENTS

	The Company has three reportable operating segments: horse racing, Card Casino, and concessions. The horse racing segment primarily represents simulcast and live horse racing operations. The Card Casino segment represents operations of Canterbury Park’s Card Casino, and the concessions segment represents food and beverage operations provided during simulcast and live racing, in the Card Casino, and during special events. 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 processes to produce those products and services. The Minnesota Racing Commission regulates the horse racing and Card Casino segments.

	The accounting policies of the operating segments are the same as those described in the summary of significant accounting policies in the 2013 Annual Report on Form 10-K.

	Depreciation, interest and income taxes are allocated to the segments but no allocation is made to concessions for shared facilities. However, the concessions segment pays approximately 25% of gross revenues earned on live racing and special event days to the horse racing segment for use of the facilities.




	The following tables provide information about the Company’s operating segments (in 000’s):



			Three Months Ended March 31, 2014
			Horse Racing			Card Casino		Concessions		Total

	Net revenues from external customers		$	1,985		$	6,420	$	969	$	9,374

	Intersegment revenues			64			-		292		356

	Net interest income			1			-		-		1

	Depreciation			390			106		31		527

	Segment (loss) income before income taxes			-316			1,161		-59		786

			At March 31, 2014
	Segment Assets		$	36,336		$	1,534	$	14,012	$	51,882




			Three Months Ended March 31, 2013
			Horse Racing			Card Casino		Concessions		Total

	Net revenues from external customers		$	1,954		$	6,343	$	848	$	9,145

	Intersegment revenues			45			-		337		382

	Net interest income			1			-		-		1

	Depreciation			277			135		35		447

	Segment (loss) income before income taxes			-315			955		-98		542

			At December 31, 2013
	Segment Assets		$	34,870		$	1,640	$	13,845	$	50,355


	The following are reconciliations of reportable segment revenues, income before income taxes, and assets, to the Company’s consolidated totals (in 000’s):





			Three Months Ended March 31,
			2014			2013
	Revenues
	Total net revenues for reportable segments		$	9,730		$	9,527
	Elimination of intersegment revenues			-356			-382
	Total consolidated net revenues		$	9,374		$	9,145




Income before income taxes
Total segment income before income taxes		$	786		$	542
Elimination of intersegment income before income taxes			-93			-35
Total consolidated income before income taxes		$	693		$	507




		March 31,			December 31,
		2014			2013
Assets
Total assets for reportable segments		$	51,882		$	50,355
Elimination of intercompany receivables			-13,425			-13,242
Total consolidated assets		$	38,457		$	37,113

Commitments_And_Contingencies

Commitments And Contingencies	3 Months Ended
Commitments And Contingencies	Mar. 31, 2014
Commitments And Contingencies [Abstract]	'
Commitments And Contingencies	'

	6. COMMITMENTS AND CONTINGENCIES

	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, if (i) off-track betting becomes legally permissible in the State of Minnesota and (ii) the Company begins to conduct off-track betting with respect to or in connection with its operations, the Company will be required to pay to the IMR Fund, L.P. the greater of $700,000 per operating year, as defined, or 20% of the net pretax profit, as defined for each of five operating years. At this time, management believes that the likelihood that these two conditions will be met and that the Company will be required to pay these amounts is remote. At the date (if any) that these two conditions are met, the five minimum payments will be discounted back to their present value and the sum of those discounted payments will be capitalized as part of the purchase price in accordance with generally accepted accounting principles. The purchase price will be further increased if payments become due under the “20% of Net Pretax Profit” calculation. The first payment is to be made 90 days after the end of the third operating year in which off-track betting is conducted by the Company. Remaining payments would be made within 90 days of the end of each of the next four operating years.

	Additionally, the Company entered into a Cooperative Marketing Agreement (the “CMA”) with the Shakopee Mdewakanton Sioux Community which became effective on June 15, 2012. The CMA contains certain covenants which, if breached, would trigger an obligation to repay a specified amount related to such covenant. At this time, management believes that the likelihood that the breach of a covenant will occur and that the Company will be required to pay the specified amount related to such covenant is remote.

	In March 2014, the Company entered into a seven-year agreement with a new totalizator provider. Pursuant to the agreement, the vendor provides totalizator equipment and related software which record and process all wagers and calculate odds and payoffs. Under the new agreement, $221,345 will be charged to operations in the first full year.

	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 March 31, 2014 and as of the date of this report will not have a material impact on the Company’s consolidated financial results of operations.

Cooperative_Marketing_Agreemen

Cooperative Marketing Agreement	3 Months Ended
Cooperative Marketing Agreement	Mar. 31, 2014
Cooperative Marketing Agreement [Abstract]	'
Cooperative Marketing Agreement	'
	7. COOPERATIVE MARKETING AGREEMENT

	On June 4, 2012, the Company entered into a Cooperative Marketing Agreement (the “CMA”) with the Shakopee Mdewakanton Sioux Community (“SMSC”). The primary purpose of the CMA is to increase purses paid during live horse racing at Canterbury Park’s Racetrack in order to strengthen Minnesota’s horse industry. Under the terms of the CMA, the SMSC paid the horsemen $5.3 million in February 2013 and $5.8 million in February 2014 for purse enhancements. After 2014, the SMSC is obligated to contribute the additional amounts listed below for purse enhancements.

	The Company and the SMSC have also agreed in the CMA to partner in joint marketing efforts for their mutual benefit, including signage, joint promotions, player benefits and events. Under the CMA, the SMSC paid the Company $600,000 in February 2013 and $660,000 in February 2014 for marketing purposes. After 2014, the SMSC is obligated to pay the additional amounts listed below to be used for mutually agreeable marketing purposes.





	Under the CMA, the SMSC has agreed to make the following purse enhancement and marketing payments in 2015 through 2022:



	Year	Purse Enhancement Payments to Horsemen	Marketing Payments to Canterbury Park
	2015	$ 6,434,000	$ 726,000
	2016	7,087,400	798,600
	2017	7,806,140	878,460
	2018	8,000,000	900,000
	2019	8,000,000	900,000
	2020	8,000,000	900,000
	2021	8,000,000	900,000
	2022	8,000,000	900,000

	The Company does not have a financial interest in any part of the purse enhancement payments. Therefore, purse enhancement payments have no impact on the Company’s financial statements.

	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 consolidated statements of operations. For the three months ended March 31, 2014, the Company recorded $59,035 in other revenue and incurred $6,253 in advertising and marketing expense and $52,782 in depreciation related to the SMSC marketing payment. For the three months ended March 31, 2013, the Company recorded $13,000 in other revenue and incurred $13,000 in advertising and marketing expense related to the SMSC marketing payment. The excess of amounts received over revenues is reflected as deferred revenue which is included in accounts payable on the consolidated balance sheets.

	Under the CMA, the Company agreed it would not promote or lobby the Minnesota legislature for expanded gambling authority and will support the SMSC’s lobbying efforts against expanding gambling authority.

	As part of the CMA and pursuant to a related SAR Agreement dated June 14, 2012, the Company issued stock appreciation rights to the SMSC. The SAR Agreement granted rights to the SMSC to benefit from the appreciation in the value of 165,000 shares of Company common stock above $14.30 per share, a price agreed upon by the two parties. Each right represents the right to be paid the appreciation in the value of one share of stock above $14.30. Ten percent of the rights (16,500 rights) vested immediately and the remaining rights vest at the rate of 16,500 per year beginning in January 2013. As of March 31, 2014, 49,500 rights had vested. The SAR Agreement provides for the cash payment of the excess of the fair market value of Canterbury Park Holding Corporation’s common stock price on the date of exercise over the grant price. The SAR Agreement and all rights granted expire on December 31, 2022. The liability related to these stock appreciation rights is recorded as a long-term liability and the Company recognizes the income or expense related to the fluctuation in the value of the stock appreciation rights against the revenues recorded relating to the marketing payment due to the nature of the CMA. Any excess expenses will be recognized as a component of other operating expenses. For the quarter ended March 31, 2014, the Company recognized $90,646 of expense related to these stock appreciation rights, of which $59,035 was recorded as an offset to other revenue and $31,611 was recorded as other operating expenses. For the quarter ended March 31, 2013, the Company recognized $64,244 of expense related to these stock appreciation rights, of which $13,000 was recorded as an offset to other revenue and $51,244 was recorded as other operating expenses. In the future, changes in the fair value of these stock appreciation rights will increase or decrease the stock appreciation rights liability, and the Company will recognize an additional offset to other revenue and/or other operating expenses related to these changes.

Summary_Of_Significant_Account1

Summary Of Significant Accounting Policies (Policy)	3 Months Ended
Summary Of Significant Accounting Policies (Policy)	Mar. 31, 2014
Summary Of Significant Accounting Policies [Abstract]	'
Business	'

	Business – Canterbury Park Holding Corporation (the “Company”) was incorporated under the laws of Minnesota and acquired land and buildings to conduct pari-mutuel horse racing operations (the “Racetrack”) in March 1994. The Racetrack is located in Shakopee, Minnesota, approximately 25 miles southwest of downtown Minneapolis. In May 1994, the Company commenced year-round horse racing simulcast operations and hosted the first annual live race meet during the summer of 1995. The Company’s live racing operations are a seasonal business as it hosts live race meets each year from May until September. The Company earns additional pari-mutuel revenue by televising its live racing to out-of-state racetracks around the country. Canterbury Park’s Card Casino operates 24 hours a day, seven days a week and is limited by Minnesota State law to conducting card play on a maximum of 80 tables, and, prior to May 4, 2012, the Company was limited by law to conducting card play on a maximum of 50 tables. The Card Casino currently offers a variety of poker and table games. The Company’s three largest sources of revenues, Card Casino operations, pari-mutuel operations and concession sales, generate cash revenues. The Company also derives revenues from related services and activities, such as parking, advertising signage, publication sales, and from other entertainment events and activities held at the Racetrack.

Revenue Recognition	'
	Revenue Recognition – The Company’s revenues are derived primarily from the operations of a Card Casino, pari-mutuel wagering on simulcast and live horse races, concession sales, and related activities. Collection revenue from Card Casino operations, a set percentage of wagers, is recognized at the time that the wagering process is complete. Pari-mutuel revenues are 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. Revenues related to concession and publication sales and parking and admission fees are recognized as revenue when the service has been performed or the product has been delivered. All sales taxes are presented on a net basis and are excluded from revenue.

Estimates	'

	Estimates – The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates.

Cash And Cash Equivalents	'

	Cash and Cash Equivalents – Cash and cash equivalents include all investments with original maturities of three months or less or which are readily convertible into known amounts of cash and are not legally restricted. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk on cash and cash equivalents.

Restricted Cash	'

	Restricted Cash – Restricted cash represents refundable deposits and amounts due to horsemen for purses, stakes and awards, and amounts accumulated in card game progressive jackpot pools, the player pool and poker promotional fund to be used to repay card players in the form of promotions, giveaways, prizes, or by other means.

Short-Term Investments	'
	Short-term Investments – Securities are classified as held to maturity when the Company has the positive intent and ability to hold them to maturity, and are measured at amortized cost. At March 31, 2014 and December 31, 2013, all investments were classified as held to maturity. The Company continually reviews its investments to determine whether a decline in fair value below the cost basis is other than temporary. If the decline in fair value is judged to be other than temporary, the cost basis of the security is written down to fair value and the amount of the write-down is included in earnings. Short-term investments consist of certificates of deposit at March 31, 2014 and December 31, 2013. Amortized cost approximated fair value for both periods.

Accounts Receivable	'
	Accounts Receivable – Accounts receivable are initially recorded for amounts due from other tracks for simulcast revenue, net of amounts due to other tracks, and for amounts due from customers related to special events. Credit is granted in the normal course of business without collateral. Accounts receivable are stated net of allowances for doubtful accounts, which represent estimated losses resulting from the inability of customers to make the required payments. Accounts that are outstanding longer than the contractual terms are considered past due. When determining the allowances for doubtful accounts, the Company takes several factors into consideration including the overall composition of the accounts receivable aging, its prior history of accounts receivable write-offs, the type of customers and its day-to-day knowledge of specific customers. The Company writes off accounts receivable when they become uncollectible. Changes in the allowances for doubtful accounts are recorded as bad debt expense and are included in other operating expenses in the Company’s consolidated statements of operations.

Inventory	'
	Inventory – Inventory consists primarily of food and beverages, small wares and supplies, and retail goods and is recorded at the lower of cost (first-in, first-out) or market.


Unredeemed Pari-Mutuel Tickets	'
	Unredeemed Pari-mutuel Tickets – The Company records a liability for winning tickets upon the completion of a race and for vouchers when a voucher is printed. As uncashed winning tickets and vouchers are redeemed, this liability is reduced for the respective cash payment. The Company recognizes revenue associated with the uncashed winning tickets and vouchers when the likelihood of redemption, based on historical experience, is remote. While the Company continues to honor all winning tickets and vouchers presented for payment, management may determine the likelihood of redemption to be remote due to the length of time that has elapsed since the ticket was issued. In these circumstances, if management also determines there is no requirement for remitting balances to government agencies under unclaimed property laws, uncashed winning tickets and vouchers may then be recognized as revenue in the Company’s consolidated statements of operations.

Promotional Allowances	'
	Promotional Allowances – The Company offers certain promotional allowances at no charge to patrons who participate in its player rewards program. The retail value of these promotional items is shown as a deduction from total revenues on the Company’s consolidated statements of operations.

Due To Minnesota Horsemen's Benevolent And Protective Association, Inc. ("MHBPA")	'

	Due to Minnesota Horsemen’s Benevolent and Protective Association, Inc. (“MHBPA”) – The Minnesota Pari-mutuel Horse Racing Act specifies that the Company is required to segregate a portion of funds (recorded as purse expense in the statements of operations), received from Card Casino operations and wagering on simulcast and live horse races, for future payment as purses for live horse races or other uses of the horsepersons’ associations. Pursuant to an agreement with the MHBPA, the Company transferred into a trust account or paid directly to the MHBPA, approximately $650,000 and $1,200,000 for the three-month periods ended March 31, 2014 and 2013, respectively, related to thoroughbred races. Minnesota Statutes specify that amounts transferred into the trust account are the property of the trust and not of the Company.

Impairment Of Long-Lived Assets	'
	Impairment of Long-Lived Assets – Management of the Company periodically reviews the carrying value of property and equipment for potential impairment by comparing the carrying value of these assets with their related expected undiscounted future net cash flows. Should the sum of the related expected future net cash flows be less than the carrying value, management will determine whether an impairment loss should be recognized. An impairment loss would be measured by the amount by which the carrying value of the asset exceeds the fair value of the asset. Management has determined that no impairment of these assets exists at March 31, 2014.

Advertising And Marketing	'
	Advertising and Marketing – Advertising and marketing costs are charged to expense as incurred. The related amounts are presented separately in the Company’s consolidated statements of operations.

Land, Buildings, And Equipment	'

	Land, Buildings, and Equipment – Land, buildings, equipment, and building improvements are capitalized at a level of $1,000 or greater and are recorded at cost. Repair and maintenance costs are charged to operations when incurred. Furniture, fixtures, and equipment are depreciated using the straight-line method over estimated useful lives ranging from 5 – 7 years, while buildings are depreciated over 15 – 39 years. Building improvements are amortized using the straight-line method over the useful life of the assets.

Card Casino Accruals	'

	Card Casino Accruals – Minnesota law allows the Company to collect amounts from patrons to fund progressive jackpot pools in the Card Casino. These amounts, along with amounts earned by the player pool, promotional pools, and the outstanding chip liability, are accrued as short-term liabilities at each balance sheet date.

Income Taxes	'
	Income Taxes – Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to reverse.

	The Company recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more likely than not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the relevant tax authority.

	Interest and penalties associated with uncertain income tax positions are presented in income tax expense. For the three months ended March 31, 2014 and 2013, the Company did not recognize any expense related to interest and penalties.

Net Income Per Share	'
	Net Income Per Share – Basic net income per common share is based on the weighted average number of common shares outstanding during each year. Diluted net income per common share takes into effect the dilutive effect of potential common shares outstanding. The Company’s only potential common shares outstanding are stock options.

Fair Values Of Financial Instruments	'
	Fair Values of Financial Instruments – Due to the current classification of all financial instruments of the Company and given the short-term nature of the related account balances, carrying amounts reported in the consolidated balance sheets approximate fair value.

Stock-Based Employee Compensation	'
	Stock-Based Employee Compensation – The Company accounts for share-based compensation awards on a fair value basis. The estimated grant date fair value of each stock-based award is recognized as expense over the requisite service period (generally the vesting period). The estimated fair value of each option is calculated using the Black-Scholes option-pricing model.

StockBased_Compensation_Tables

Stock-Based Compensation (Tables)	3 Months Ended
Stock-Based Compensation (Tables)	Mar. 31, 2014
Stock-Based Compensation [Abstract]	'
Share-Based Compensation, Granted	'


		Three Months Ended
		31-Mar-14						31-Mar-13
					Weighted					Weighted
					Average					Average
					Fair Value					Fair Value
		Grant			Per Share			Grant		Per Share

	Board restricted stock		-		$	-			1,250	$	10.00

	Total shares		-						1,250


Stock Options Activity	'


								Weighted
					Weighted			Average
					Average			Remaining		Aggregate
		Number of			Exercise			Contractual		Grant Date
	Stock Options	Shares			Price			Term		Fair Value

	Outstanding at January 1, 2014		271,752		$	9.99

	Granted		-			-
	Exercised		-1,000			7.14
	Expired/Forfeited		-12,000			16.68

	Outstanding at March 31, 2014		258,752		$	9.69			4.6 Years	$	2,507,037

	Exercisable at March 31, 2014		258,752		$	9.69			4.6 Years	$	2,507,037




	A summary of stock option activity as of March 31, 2013 and changes during the three months then ended is presented below:


								Weighted
					Weighted			Average
					Average			Remaining		Aggregate
		Number of			Exercise			Contractual		Grant Date
	Stock Options	Shares			Price			Term		Fair Value

	Outstanding at January 1, 2013		292,267		$	10.13

	Granted		-			-
	Exercised		-			-
	Expired/Forfeited		-15,000			13.86

	Outstanding at March 31, 2013		277,267		$	9.93			5.4 Years	$	2,753,697

	Exercisable at March 31, 2013		257,142		$	10.06			5.3 Years	$	2,587,062


Stock Appreciation Rights Valuation Assumptions	'

		2014			2013
	Expected dividend yield		0.00	%		0.00	%
	Expected weighted-average volatility		50.0	%		47.9	%
	Risk-free interest rate		2.55	%		1.77	%
	Expected term of SARs (in years)		8.75			9.75


Stock Appreciation Rights Award Activity	'

		SARs			Weighted Average Fair Value
	Non-vested SARs at December 31, 2013		132,000		$	5.41
	Granted		—			—
	Vested		-16,500		$	6.02
	Cancellations		—			—
	Non-vested SARs at March 31, 2014		115,500		$	6.02

	Changes to the Company’s non-vested SARs during the three months ended March 31, 2013 are as follows:



		SARs			Weighted Average Fair Value
	Non-vested SARs at December 31, 2012		148,500		$	5.24
	Granted		—			—
	Vested		-16,500		$	5.03
	Cancellations		—			—
	Non-vested SARs at March 31, 2013		132,000		$	5.03

Net_Income_Per_Share_Computati1

Net Income Per Share Computations (Tables)	3 Months Ended
Net Income Per Share Computations (Tables)	Mar. 31, 2014
Net Income Per Share Computations [Abstract]	'
Schedule Of Earnings Per Share Reconciliation	'


		Three		Three
		Months		Months
		Ended		Ended
		March 31,		March 31,
		2014		2013
	Net income (numerator) amounts used for basic and diluted per share computations	$	406,007	$	291,081

	Weighted average shares (denominator) of common stock outstanding:
	Basic		4,180,547		4,149,437
	Plus dilutive effect of stock options		18,331		21,330
	Diluted		4,198,878		4,170,767

	Net income per common share:
	Basic	$	0.1	$	0.07
	Diluted		0.1		0.07

Operating_Segments_Tables

Operating Segments (Tables)	3 Months Ended
Operating Segments (Tables)	Mar. 31, 2014
Operating Segments [Abstract]	'
Schedule Of The Company's Operating Segments	'



		Three Months Ended March 31, 2014
		Horse Racing		Card Casino		Concessions		Total

	Net revenues from external customers	$	1,985	$	6,420	$	969	$	9,374

	Intersegment revenues		64		-		292		356

	Net interest income		1		-		-		1

	Depreciation		390		106		31		527

	Segment (loss) income before income taxes		-316		1,161		-59		786

		At March 31, 2014
	Segment Assets	$	36,336	$	1,534	$	14,012	$	51,882




		Three Months Ended March 31, 2013
		Horse Racing		Card Casino		Concessions		Total

	Net revenues from external customers	$	1,954	$	6,343	$	848	$	9,145

	Intersegment revenues		45		-		337		382

	Net interest income		1		-		-		1

	Depreciation		277		135		35		447

	Segment (loss) income before income taxes		-315		955		-98		542

		At December 31, 2013
	Segment Assets	$	34,870	$	1,640	$	13,845	$	50,355


Reconciliation Of Revenues	'


		Three Months Ended March 31,
		2014		2013
	Revenues
	Total net revenues for reportable segments	$	9,730	$	9,527
	Elimination of intersegment revenues		-356		-382
	Total consolidated net revenues	$	9,374	$	9,145


Reconciliation Of Income Before Income Taxes	'


	Income before income taxes
	Total segment income before income taxes	$	786	$	542
	Elimination of intersegment income before income taxes		-93		-35
	Total consolidated income before income taxes	$	693	$	507


Reconciliation Of Assets	'


		March 31,		December 31,
		2014		2013
	Assets
	Total assets for reportable segments	$	51,882	$	50,355
	Elimination of intercompany receivables		-13,425		-13,242
	Total consolidated assets	$	38,457	$	37,113

Cooperative_Marketing_Agreemen1

Cooperative Marketing Agreement (Tables)	3 Months Ended
Cooperative Marketing Agreement (Tables)	Mar. 31, 2014
Cooperative Marketing Agreement [Abstract]	'
Purse Enhancement And Marketing Payments	'


	Year	Purse Enhancement Payments to Horsemen	Marketing Payments to Canterbury Park
	2015	$ 6,434,000	$ 726,000
	2016	7,087,400	798,600
	2017	7,806,140	878,460
	2018	8,000,000	900,000
	2019	8,000,000	900,000
	2020	8,000,000	900,000
	2021	8,000,000	900,000
	2022	8,000,000	900,000

Summary_Of_Significant_Account2

Summary Of Significant Accounting Policies (Details) (USD $)	3 Months Ended		4 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	3-May-12
	item		item
	mi
Summary Of Significant Accounting Policies [Line Items]	'	'	'
Racetrack distance from Minneapolis (in miles)	25	'	'
Casino open, number of hours daily	'24 hours	'	'
Casino open, number of days weekly	'7 days	'	'
Minnesota State law, maximum number of game tables	80	'	50
Due to Minnesota Horsemen's Benevolent and Protective Association, Inc.	$650,000	$1,200,000	'
Impairment of assets	0	'	'
Minimum [Member]	'	'	'
Summary Of Significant Accounting Policies [Line Items]	'	'	'
Property, plant and equipment, minimum cost capitalization	$1,000	'	'
Minimum [Member] \| Furniture, Fixtures And Equipment [Member]	'	'	'
Summary Of Significant Accounting Policies [Line Items]	'	'	'
Property, plant and equipment, useful life	'5 years	'	'
Minimum [Member] \| Building [Member]	'	'	'
Summary Of Significant Accounting Policies [Line Items]	'	'	'
Property, plant and equipment, useful life	'15 years	'	'
Maximum [Member] \| Furniture, Fixtures And Equipment [Member]	'	'	'
Summary Of Significant Accounting Policies [Line Items]	'	'	'
Property, plant and equipment, useful life	'7 years	'	'
Maximum [Member] \| Building [Member]	'	'	'
Summary Of Significant Accounting Policies [Line Items]	'	'	'
Property, plant and equipment, useful life	'39 years	'	'

StockBased_Compensation_Narrat

Stock-Based Compensation (Narrative) (Details) (USD $)

3 Months Ended

75 Months Ended

228 Months Ended

0 Months Ended

3 Months Ended

0 Months Ended

3 Months Ended

0 Months Ended

3 Months Ended

0 Months Ended

3 Months Ended

0 Months Ended

3 Months Ended

0 Months Ended

3 Months Ended

0 Months Ended

3 Months Ended

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2014

Jun. 07, 2012

Mar. 31, 2013

Mar. 31, 2014

Jan. 04, 2013

Mar. 31, 2013

Mar. 31, 2014

30-May-13

Mar. 31, 2014

Feb. 25, 2010

Mar. 31, 2013

Mar. 31, 2014

Dec. 13, 2012

Mar. 31, 2014

Mar. 31, 2013

Mar. 18, 2014

Mar. 31, 2014

Jun. 14, 2012

Mar. 31, 2014

Mar. 31, 2013

5 Non-Employee Members Of Board Of Directors [Member]

Newly Named Non-Employee Member Of Board Of Directors [Member]

6 Non Employee Members Of Board Of Directors [Member]

Employee Stock Option [Member]

Employee Deferred Stock Award 2012 Plan [Member]

Employee Deferred Stock Award 2014 Plan [Member]

Stock Appreciation Rights (SARs) [Member]

item

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock based compensation expense

$60,370

$69,034

$282,355

$172,200

$221,844

$90,646

$64,244

Share-based compensation, other than options granted

2,364

1,250

2,840

20,500

23,500

165,000

Stock-based compensation, options granted, number of nonemployee members

Granted, price

$12.69

$10

$10.56

Restricted stock, percentage vested

100.00%

Share-based compensation, vesting period

'1 year

'42 months

'4 years

Share-based compensation shares available for grant

1,250

11,820

1,250

17,040

Share-based compensation nonemployee, cost

37,499

3,125

44,986

Unrecognized compensation costs

29,990

116,594

217,222

Recognition period for unrecognized compensation costs

'2 months 12 days

'2 years 8 months 12 days

'3 years 10 months 24 days

Stock options granted

86,500

Granted exercise price

$8.28

$9.84

$10.46

Share-based compensation, expiration period

'10 years

Compensation cost included in salaries and benefits expense

17,647

10,763

4,622

Contributions made to Employee Stock Ownership Plan

Number of shares purchased by employees under Employee Stock Purchase Plan

2,132

2,101

Shares issued for Employee Stock Purchase Plan

262,083

350,000

Percentage of discount offered to employees as part of the ESPP

10.00%

Benefit from appreciation in the value of common stock, per share

$14.30

Percentage of the Rights vested

10.00%

Number of the Rights vested

16,500

49,500

Number of remaining Rights vest per year

16,500

Exercised, SARs

Total liability of SARs vested

$558,026

StockBased_Compensation_ShareB

Stock-Based Compensation (Share-Based Compensation, Granted) (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Grant	'	1,250
Weighted Average Fair Value Per Share	'	'
Board Restricted Stock [Member]	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Grant	'	1,250
Weighted Average Fair Value Per Share	'	$10

StockBased_Compensation_Stock_

Stock-Based Compensation (Stock Options Activity) (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Stock-Based Compensation [Abstract]	'	'
Outstanding at beginning of year, Number of Shares	271,752	292,267
Exercised, Number of Shares	-1,000	'
Expired/Forfeited, Number of Shares	-12,000	-15,000
Outstanding at end of period, Number of Shares	258,752	277,267
Exercisable, Number of Shares	258,752	257,142
Outstanding beginning of year, Weighted Average Exercise Price	$9.99	$10.13
Exercised, Weighted Average Exercise Price	$7.14	'
Expired/Forfeited, Weighted Average Exercise Price	$16.68	$13.86
Outstanding at end of period, Weighted Average Exercise Price	$9.69	$9.93
Exercisable, Weighted Average Exercise Price	$9.69	$10.06
Outstanding, Weighted Average Remaining Contractual Term	'4 years 7 months 6 days	'5 years 4 months 24 days
Exercisable, Weighted Average Remaining Contractual Term	'4 years 7 months 6 days	'5 years 3 months 18 days
Outstanding, Aggregate Grant Date Fair Value	$2,507,037	$2,753,697
Exercisable, Aggregate Grant Date Fair Value	$2,507,037	$2,587,062

StockBased_Compensation_Stock_1

Stock-Based Compensation (Stock Appreciation Rights Valuation Assumptions) (Details) (Stock Appreciation Rights (SARs) [Member])	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Stock Appreciation Rights (SARs) [Member]	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Expected dividend yield	0.00%	0.00%
Expected weighted-average volatility	50.00%	47.90%
Risk-free interest rate	2.55%	1.77%
Expected term of SARs (in years)	'8 years 9 months	'9 years 9 months

StockBased_Compensation_Stock_2

Stock-Based Compensation (Stock Appreciation Rights Award Activity) (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Stock-Based Compensation [Abstract]	'	'
Non-vested SARs, Beginning Balance	132,000	148,500
Granted, SARs	'	'
Vested, SARs	-16,500	-16,500
Cancellations, SARs	'	'
Non-vested SARs, Ending Balance	115,500	132,000
Non-vested SARs, Weighted Average Fair Value, Beginning Balance	$5.41	$5.24
Granted, Weighted Average Fair Value	'	'
Vested, Weighted Average Fair Value	$6.02	$5.03
Cancellations, Weighted Average Fair Value	'	'
Non-vested SARs, Weighted Average Fair Value, Ending Balance	$6.02	$5.03

Net_Income_Per_Share_Computati2

Net Income Per Share Computations (Narrative) (Details) (USD $)	Mar. 31, 2014	Mar. 31, 2013
Net Income Per Share Computations [Abstract]	'	'
Number of common stock shares to purchase under stock options	92,500	104,500
Average price of common shares under stock options	$14.15	$14.44

Net_Income_Per_Share_Computati3

Net Income Per Share Computations (Schedule Of Earnings Per Share Reconciliation) (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Net Income Per Share Computations [Abstract]	'	'
Net income (numerator) amounts used for basic and diluted per share computations	$406,007	$291,081
Weighted average shares (denominator) of common stock outstanding:	'	'
Basic	4,180,547	4,149,437
Plus dilutive effect of stock options	18,331	21,330
Diluted	4,198,878	4,170,767
Net income per common share:	'	'
Basic	$0.10	$0.07
Diluted	$0.10	$0.07

General_Credit_Agreement_Detai

General Credit Agreement (Details) (USD $)	Mar. 31, 2014
General Credit Agreement [Abstract]	'
Revolving credit line maximum borrowing amount	$3,000,000
Borrowings under credit line	$0

Operating_Segments_Narrative_D

Operating Segments (Narrative) (Details)	3 Months Ended
	Mar. 31, 2014
	segment
Operating Segments [Abstract]	'
Number of reportable operating segments	3
Percent of gross concession segment revenue paid to horse racing segment	25.00%

Operating_Segments_Schedule_Of

Operating Segments (Schedule Of The Company's Operating Segments) (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Segment Reporting Information [Line Items]	'	'	'
Net revenues from external customers	$9,374,000	$9,145,000	'
Intersegment revenues	356,000	382,000	'
Net interest income	1,000	1,000	'
Depreciation	526,620	446,640	'
Segment (loss) income before income taxes	786,000	542,000	'
Segment Assets	51,882,000	'	50,355,000
Horse Racing [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Net revenues from external customers	1,985,000	1,954,000	'
Intersegment revenues	64,000	45,000	'
Net interest income	1,000	1,000	'
Depreciation	390,000	277,000	'
Segment (loss) income before income taxes	-316,000	-315,000	'
Segment Assets	36,336,000	'	34,870,000
Card Casino [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Net revenues from external customers	6,420,000	6,343,000	'
Depreciation	106,000	135,000	'
Segment (loss) income before income taxes	1,161,000	955,000	'
Segment Assets	1,534,000	'	1,640,000
Concessions [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Net revenues from external customers	969,000	848,000	'
Intersegment revenues	292,000	337,000	'
Depreciation	31,000	35,000	'
Segment (loss) income before income taxes	-59,000	-98,000	'
Segment Assets	$14,012,000	'	$13,845,000

Operating_Segments_Reconciliat

Operating Segments (Reconciliation Of Revenues) (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Segment Reporting, Revenue Reconciling Item [Line Items]	'	'
Total consolidated net revenues	$9,374,454	$9,144,568
Reportable Segment [Member]	'	'
Segment Reporting, Revenue Reconciling Item [Line Items]	'	'
Total consolidated net revenues	9,730,000	9,527,000
Elimination Of Intersegment [Member]	'	'
Segment Reporting, Revenue Reconciling Item [Line Items]	'	'
Total consolidated net revenues	($356,000)	($382,000)

Operating_Segments_Reconciliat1

Operating Segments (Reconciliation Of Income Before Income Taxes) (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]	'	'
Total consolidated income before income taxes	$693,468	$506,729
Reportable Segment [Member]	'	'
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]	'	'
Total consolidated income before income taxes	786,000	542,000
Elimination Of Intersegment [Member]	'	'
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]	'	'
Total consolidated income before income taxes	($93,000)	($35,000)

Operating_Segments_Reconciliat2

Operating Segments (Reconciliation Of Assets) (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Segment Reporting, Asset Reconciling Item [Line Items]	'	'
Total consolidated assets	$38,457,199	$37,112,632
Reportable Segment [Member]	'	'
Segment Reporting, Asset Reconciling Item [Line Items]	'	'
Total consolidated assets	51,882,000	50,355,000
Elimination Of Intersegment [Member]	'	'
Segment Reporting, Asset Reconciling Item [Line Items]	'	'
Total consolidated assets	($13,425,000)	($13,242,000)

Commitments_And_Contingencies_

Commitments And Contingencies (Details) (USD $)	1 Months Ended	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2014
	Mar. 31, 2014	item
Commitments And Contingencies [Abstract]	'	'
Off-track betting payment to the IMR Fund, L.P., per operating year	'	$700,000
Off-track betting payment to the IMR Fund, L.P. as percentage of net pretax profit	'	20.00%
Earn out note conditions	'	2
Number of years defined by off-track betting agreement	'	'5 years
Minimum number of payments to IMR Fund, L.P.	'	5
Maximum term for first payment to be made to IMR Fund, L.P.	'	'90 days
Maximum term for remaining payments to be made to the IMR Fund, L.P.	'	'90 days
Remaining years, payments to the IMR Fund, L.P.	'	'4 years
Term of agreement with new totalizator provider	'7 years	'
Amount charged to operations in the first full year of the agreement with totalizator provider	$221,345	'

Cooperative_Marketing_Agreemen2

Cooperative Marketing Agreement (Narrative) (Details) (USD $)	1 Months Ended		3 Months Ended		0 Months Ended	3 Months Ended
	Feb. 28, 2014	Feb. 28, 2013	Mar. 31, 2014	Mar. 31, 2013	Jun. 14, 2012	Mar. 31, 2014	Mar. 31, 2013
	Feb. 28, 2014	Feb. 28, 2013	Mar. 31, 2014	Mar. 31, 2013	Stock Appreciation Rights (SARs) [Member]	Stock Appreciation Rights (SARs) [Member]	Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'	'	'	'
Obligation under the Agreement to enhance purses for live horse racing meet due current	$5,800,000	$5,300,000	'	'	'	'	'
Obligation under Agreement to support joint marketing activities due current	660,000	600,000	'	'	'	'	'
Revenues related to marketing payment	'	'	59,035	13,000	'	'	'
Expenses related to marketing payment	'	'	6,253	13,000	'	'	'
Depreciation related to marketing payment	'	'	52,782	'	'	'	'
Share-based compensation, other than options granted	'	'	'	'	165,000	'	'
Benefit from appreciation in the value of common stock, per share	'	'	'	'	$14.30	'	'
Percentage of the Rights vested	'	'	'	'	10.00%	'	'
Number of the Rights vested	'	'	'	'	16,500	49,500	'
Number of remaining Rights vest per year	'	'	'	'	16,500	16,500	'
Stock based compensation expense	'	'	60,370	69,034	'	90,646	64,244
Expense recorded as an offset to revenue	'	'	9,374,454	9,144,568	'	59,035	13,000
Other operating expense related to stock appreciation rights	'	'	'	'	'	$31,611	$51,244

Cooperative_Marketing_Agreemen3

Cooperative Marketing Agreement (Purse Enhancement And Marketing Payments) (Details) (USD $)	3 Months Ended
	Mar. 31, 2014
Cooperative Marketing Agreement [Abstract]	'
2015, Purse Enhancement	$6,434,000
2016, Purse Enhancement	7,087,400
2017, Purse Enhancement	7,806,140
2018, Purse Enhancement	8,000,000
2019, Purse Enhancement	8,000,000
2020, Purse Enhancement	8,000,000
2021, Purse Enhancement	8,000,000
2022, Purse Enhancement	8,000,000
2015, Marketing Payment	726,000
2016, Marketing Payment	798,600
2017, Marketing Payment	878,460
2018, Marketing Payment	900,000
2019, Marketing Payment	900,000
2020, Marketing Payment	900,000
2021, Marketing Payment	900,000
2022, Marketing Payment	$900,000