Canterbury Park Holding 10-K 30 Mar 16 2015 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2015	Mar. 15, 2016	Jun. 30, 2015
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Entity Registrant Name	CANTERBURY PARK HOLDING CORP
Entity Central Index Key	926,761
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		4,258,347
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Public Float			$ 25,179,536

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2015	Dec. 31, 2014
CURRENT ASSETS
Cash and cash equivalents	$ 8,274,112	$ 8,761,925
Restricted cash	1,563,058	1,069,181
Short-term investments	205,192	204,525
Accounts receivable, net of allowance of $28,000 and $22,294 respectively	155,861	192,674
Inventory	253,334	231,545
Prepaid expenses	396,705	541,822
Due from Minnesota horsemen associations		125,828
Deferred income taxes (Note 3)		265,900
Income taxes receivable	355,060
Total current assets	11,203,322	11,393,400
LONG-TERM ASSETS
Deposits	20,000	26,400
Land, buildings and equipment, net (Note 2)	34,117,760	28,075,879
Total Assets	45,341,082	39,495,679
CURRENT LIABILITIES
Current maturities of capital lease obligations (Note 8)	585,563
Accounts payable	2,710,661	2,174,466
Card Casino accruals	1,759,314	1,401,336
Accrued wages and payroll taxes	1,370,577	1,198,705
Accrued property taxes	711,482	653,385
Payable to horsepersons	171,355	211,571
Income taxes payable		388,910
Total current liabilities	7,308,952	6,028,373
LONG-TERM LIABILITIES
Capital lease obligations - long term portion (Note 8)	2,592,731
Deferred income taxes (Note 3)	2,341,900	1,972,400
Stock appreciation rights (Note 5)		499,734
Total long-term liabilities	4,934,631	2,472,134
Total Liabilities	12,243,583	8,500,507
STOCKHOLDERS' EQUITY (Notes 4 and 5)
Common stock, $.01 par value, 10,000,000 shares authorized, 4,238,430 and 4,201,371, respectively, shares issued and outstanding	42,383	42,013
Additional paid-in capital	18,019,658	17,589,349
Retained earnings	15,035,458	13,363,810
Total stockholders' equity	33,097,499	30,995,172
Total Liabilities And Stockholders' Equity	$ 45,341,082	$ 39,495,679

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Consolidated Balance Sheets [Abstract]
Accounts receivable, allowance	$ 28,000	$ 22,294
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	10,000,000	10,000,000
Common stock, shares issued	4,238,430	4,201,371
Common stock, shares outstanding	4,238,430	4,201,371

Consolidated Statements Of Oper

Consolidated Statements Of Operations - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
OPERATING REVENUES:
Pari-mutuel	$ 10,022,276	$ 10,193,239
Card Casino	29,016,365	27,029,750
Food and beverage	7,949,857	6,971,222
Other	5,425,754	4,445,210
Total Revenues	52,414,252	48,639,421
Less: Promotional allowances	(151,199)	(169,584)
Net Revenues	52,263,053	48,469,837
OPERATING EXPENSES:
Purse expense	6,494,743	6,283,788
Minnesota Breeders' Fund	833,646	831,063
Other pari-mutuel expenses	1,451,730	1,575,154
Salaries and benefits	21,397,718	19,648,677
Cost of food and beverage and other sales	3,784,772	3,497,938
Depreciation	2,297,613	2,137,778
Utilities	1,305,903	1,333,141
Advertising and marketing	1,978,290	1,901,646
Gain on disposal of assets	(347,348)	(500)
Gain on sale of land	(659,562)
Gain on insurance proceeds (Note 14)	495,465	957,597
Other operating expenses	9,607,146	8,118,824
Total Operating Expenses	47,649,186	44,369,912
INCOME FROM OPERATIONS	4,613,867	4,099,925
OTHER EXPENSE (INCOME)
Interest expense	(201)
Interest income	3,005	2,407
Net Other Income	2,804	2,407
INCOME BEFORE INCOME TAXES	4,616,671	4,102,332
INCOME TAX EXPENSE (Note 3)	(1,889,649)	(1,691,177)
NET INCOME	$ 2,727,022	$ 2,411,155
Basic earnings per share	$ 0.65	$ 0.58
Diluted earnings per share	$ 0.64	$ 0.57

Consolidated Statements Of Chan

Consolidated Statements Of Changes In Stockholders' Equity - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance at Dec. 31, 2013	$ 41,779	$ 17,270,615	$ 10,952,655	$ 28,265,049
Balance, shares at Dec. 31, 2013	4,177,951
Exercise of stock options	$ 20	13,120		13,140
Exercise of stock options, shares	2,000
Stock-based compensation		217,094		217,094
Tax (expense) benefit from exercise of stock-based awards		7,895		7,895
Issuance of restricted stock	$ 130	(130)
Issuance of restricted stock, shares	13,040
Shares issued under Employee Stock Purchase Plan	$ 84	80,755		80,839
Shares issued under Employee Stock Purchase Plan, shares	8,380
Net income			2,411,155	2,411,155
Balance at Dec. 31, 2014	$ 42,013	17,589,349	13,363,810	30,995,172
Balance, shares at Dec. 31, 2014	4,201,371
Exercise of stock options	$ 123	42,530		42,653
Exercise of stock options, shares	12,250
Stock-based compensation		284,628		284,628
Dividend distribution			(1,055,374)	(1,055,374)
Tax (expense) benefit from exercise of stock-based awards		4,060		4,060
Issuance of restricted stock	$ 139	2,365		2,504
Issuance of restricted stock, shares	13,940
Shares issued under Employee Stock Purchase Plan	$ 109	96,726		96,835
Shares issued under Employee Stock Purchase Plan, shares	10,869
Net income			2,727,022	2,727,022
Balance at Dec. 31, 2015	$ 42,383	$ 18,019,658	$ 15,035,458	$ 33,097,499
Balance, shares at Dec. 31, 2015	4,238,430

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Operating Activities:
Net income	$ 2,727,022	$ 2,411,155
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	2,297,613	2,137,778
Stock-based compensation expense	284,628	217,094
Stock appreciation rights	141,686	32,354
Deferred income taxes	383,500	313,700
Tax expense (benefit) from exercise of stock-based awards	(4,060)	(7,895)
Gain on disposal of assets	(1,006,910)	(500)
Gain on insurance proceeds	(495,465)	(957,597)
(Increase) decrease in cash resulting from changes in operating assets:
Restricted cash	(493,877)	69,822
Accounts receivable	36,813	146,297
Other current assets	255,555	95,467
Income taxes receivable/payable	(739,910)	727,477
Increase (decrease) in cash resulting from changes in operating liabilities:
Accounts payable and accrued wages and payroll taxes	666,978	(532,739)
Card Casino accruals	357,978	(144,787)
Accrued property taxes	58,097	2,588
Payable to horsepersons	(40,216)	203,370
Due from MHBPA		(123,473)
Net cash provided by operating activities	4,429,432	4,590,111
Investing Activities:
Additions to buildings and equipment	(4,341,792)	(5,657,743)
Deposit for land purchase funded by capital lease	(260,000)
Proceeds from sale of assets	99,441	500
Proceeds from insurance claims	495,466	988,597
Purchase of investments	(667)	(623)
Net cash used in investing activities	(4,007,552)	(4,669,269)
Financing Activities
Cash dividends to shareholders	(1,055,374)
Proceeds from issuance of common stock	141,621	93,979
Tax benefit (expense) from exercise of stock-based awards	4,060	7,895
Net cash provided by (used in) financing activities	(909,693)	101,874
Net increase (decrease) in cash and cash equivalents	(487,813)	22,716
Cash and cash equivalents at beginning of year	8,761,925	8,739,209
Cash and cash equivalents at end of year	8,274,112	8,761,925
Schedule of non-cash investing and financing activities:
Additions to buildings and equipment funded through accounts payable	130,934	46,157
Additions to land funded by capital lease borrowings	3,178,294
Purchase of land through qualified intermediary	4,881,000
Cancellation of stock appreciation rights	641,420
Proceeds from land sale remitted to qualified intermediary	1,459,042
Payment for purchase of land remitted from qualified intermediary	1,442,706
Receivable from qualified intermediary	16,336
Supplemental disclosure of cash flow information:
Income taxes paid, net of refunds	$ 1,930,000	$ 650,000

Summary Of Significant Accounti

Summary Of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2015
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 on March 24, 1994 and conducts pari-mutuel wagering operations and hosts “unbanked” card games at its Canterbury Park Racetrack and Card Casino facility (the “Racetrack”) in Shakopee, Minnesota. The Company’s pari-mutuel wagering operations include both wagering on thoroughbred and quarter horse races during live meets at the Racetrack each year from May until September and year-round wagering on races held at out-of-state racetracks that are televised simultaneously at the Racetrack (“simulcasting”). Unbanked card games, in which patrons compete against each other, are hosted in the Card Casino at the Racetrack. The Card Casino operates 24 hours a day, seven days a week. The Card Casino offers both poker and table games at up to 80 tables. The Company also derives revenues from related services and activities, such as food and beverage, parking, advertising signage, publication sales and from other entertainment events and activities held at the Racetrack. The consolidated financial statements include the accounts of the Company, Canterbury Park Concessions, Inc. (CPC), and Shakopee Valley RV Park Acquisition Company, LLC after elimination of intercompany accounts and transactions. 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, food and beverage 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 food and beverage 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 posi tive intent and ability to hold them to maturity, and are measured at amortized cost. At December 31, 2015 and 2014 , 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 December 31, 2015 and 2014 . 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 catering and 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 and vouchers upon the completion of a race and when a voucher is printed, respectively. 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 $ 5,429,000 and $ 5,850,000 for the years ended December 31, 2015 and 2014 , 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 – The Company reviews its long-lived assets whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. In the event that facts and circumstances indicate that the carrying value of any long-lived assets may be impaired, an evaluation of recoverability would be performed. If the sum of the expected undiscounted cash flows is less than the carrying value of the related asset or group of assets, a loss is recognized for the difference between the fair value and carrying value of the asset or group of assets. During 2015 and 2014, the Company determined that no evaluations of recoverability were necessary. 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 years ended December 31, 2015 and 2014 , 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, expect for the capital lease obligation, and given the short-term nature of the related account balances, carrying amounts reported in the consolidated balance sheets approximate fair value. The capital lease obligation interest rate is consistent with market rates of similar debt obligations. 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. For more information on the Company’s stock-based compensation plans, see Note 5. Reclassifications – Prior period financial statement amounts have been reclassified to conform to current period presentations. Insurance recovery gains received in the third quarter of 2015 have been reclassified on the Consolidated Statement of Operations to Gain on insurance recoveries from Other Revenue in the amount of $120,100 . Recent Accounting Pronouncement – In November 2015, the FASB issued Accounting Standards Update (“ASU”) 2015-17, Balance Sheet Classification of Deferred Taxes , which simplifies the presentation of deferred tax assets and liabilities by requiring the deferred tax assets and liabilities be presented as non-current on the balance sheet. We early adopted this guidance, prospectively, for the year ended December 31, 2015. In August 2014, the FASB issued ASU No. 2014-15, Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern , which explicitly requires management to assess an entity's ability to continue as a going concern, and to provide related footnote disclosures in certain circumstances. Management will be required to assess, in each interim and annual period, if there is substantial doubt of an entity's ability to continue as a going concern as evidenced by relevant known or knowable conditions including an entity's ability to meet its future obligations. Management will be required to provide disclosures regardless of whether substantial doubt is alleviated by management's plans. The guidance will become effective for annual fiscal periods ending after December 15, 2016. In May, 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers ("ASU 2014-09"). ASU 2014-09 is a new comprehensive standard for revenue recognition that is based on the core principle that revenue be recognized in a manner that depicts the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The new guidance implements a five-step process for customer contract revenue recognition. The guidance also requires enhanced disclosures relating to the nature, amount, timing, and uncertainty of revenues and cash flows arising from contracts with customers. This new guidance is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period, and early adoption is prohibited. Entities can transition to the new guidance either retrospectively or as a cumulative-effect adjustment as of the date of adoption. The Company is evaluating the impact of the amended revenue recognition guidance on the Company’s consolidated financial statements but does not believe it will have a significant impact.

Land, Buildings And Equipment

Land, Buildings And Equipment	12 Months Ended
	Dec. 31, 2015
Land, Buildings And Equipment [Abstract]
Land, Buildings And Equipment	2. LAND, BUILDINGS AND EQUIPMENT Land, buildings and equipment, at cost, consist of the following at December 31, 2015 and 2014 : 2015 2014 Land $ 10,897,378 $ 6,673,076 Buildings and building improvements 28,521,564 26,522,813 Furniture and equipment 20,236,965 18,890,728 59,655,907 52,086,617 Accumulated depreciation (25,538,147) (24,010,738) $ 34,117,760 $ 28,075,879

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2015
Income Taxes [Abstract]
Income Taxes	3. INCOME TAXES A reconciliation between income taxes computed at the statutory federal income tax rate and the effective tax rate for the years ended December 31, 2015 and 2014 is as follows: 2015 2014 Federal tax expense at statutory rates $ 1,569,667 $ 1,394,793 Nondeductible lobbying expense 25,536 29,518 State expense, net of federal impact 312,950 280,263 Stock option expense (910) (364) Other (17,594) (13,033) $ 1,889,649 $ 1,691,177 On December 31, 2015, the Company adopted ASU 2015-17 - Balance Sheet Classification of Deferred Taxes and all deferred taxes were prospectively recorded as non-current liabilities. Income tax expense for the years ended December 31, 2015 and 2014 consists of the following: 2015 2014 Current Federal $ 932,257 $ 1,070,360 State 321,992 307,117 1,254,249 1,377,477 Deferred, primarily Federal 635,400 313,700 $ 1,889,649 $ 1,691,177 Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s deferred tax assets and liabilities as of December 31, 2015 and 2014 are as follows: 2015 2014 Deferred tax liabilities Vacation accrual $ 79,600 $ 73,300 Player rewards program accrual 191,600 202,100 Stock options and stock appreciation rights 256,300 404,300 Tax depreciation greater than book depreciation (2,408,400) (2,254,200) Deferred gain on sale of land (453,800) (104,000) Other (7,200) (28,000) Net long-term deferred tax (liabilities) assets $ (2,341,900) $ (1,706,500) The Company is subject to U.S. and Minnesota taxation. The Company is no longer subject to U.S. federal, state, or local examinations by tax authorities for years before 20 12 .

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2015
Stockholders' Equity [Abstract]
Stockholders' Equity	4. STOCKHOLDERS’ EQUITY Employee Stock Purchase Plan: The Company offers an Employee Sto ck Purchase Plan (the “ESPP”) that is open to all employees working more than 15 hours per week. Shares of the Company’s common stock may be purchased by employees at three -month intervals at 90% of the fair market value on the last trading day of each three-month period. Employees purchased 10,869 and 8,380 shares in 2015 and 2014 , respectively. As of December 31, 2015 , a total of 279,200 shares have been issued since inception out of the 350,000 shares authorized. KSOP : The Company offers a KSOP Plan (the “KSOP”) that includes the Employee Stock Ownership Plan (the “ESOP”) and the 401(k) Plan. Th e KSOP allows the Company to use Company stock to match contributions from its employees should it so choose. The KSOP is available to eligible employees who had completed six months of service. There was no match of Company stock to the KSOP in 2015 or 2014 . Employer contributions charged to operations for the years ended December 31, 2015 and 2014 were $195,000 and $154,000 , respectively, for cash matching of employee contributions. Stock Repurchase Plan: On August 24, 2012, the Company announced that its Board of Directors had authorized the repurchase of up to 100,000 shares of the Company’s common stock . No shares were repurchased in 2015 or 2014.

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 31, 2015
Stock-Based Compensation [Abstract]
Stock-Based Compensation	5. STOCK-BASED COMPENSATION Stock-based compensation is recorded at fai r value as of the date of grant, is included in the salaries and benefits expense line item on the consolidated statements of operations and amounted to approximately $285,000 and $217,000 for the years ended December 31, 2015 and 2014 , respectively. Stock Options: The Company’s 1994 Stock Plan (the “Plan”) provides for the granting of awards in the form of stock options, restricted stock, stock appreciation rights, and deferred stock to key employees and non-employees, including directors of and consultants to the Company and any subsidiary, to purchase up to a maximum of 1,450,000 shares of common stock. The Company currently has 159,100 shares available for grant under the Plan. The Plan is administered by the Board of Directors which determines the persons who are to receive awards under the Plan, the type of award to be granted, the number of shares subject to each award and, if an option, the exercise price of each option. The Plan provides that payment of the exercise price may be made in the form of unrestricted shares of common stock already owned by the optionee. The Company calculates the fair market value of unrestricted shares as the average of the high and low sales prices on the date of the option exercise. The Company’s common stock is purchased upon the exercise of stock options, and restricted stock awards are settled in shares of the Company’s common stock. Stock option activity related to the Plan during the years ended December 31, 2015 and 2014 is summarized below: 2015 2014 Weighted Weighted Average Average Number of Exercise Number of Exercise Shares Price Shares Price Outstanding at beginning of year 255,252 $ 9.63 271,752 $ 9.99 Granted - - - - Exercised (12,250) 6.70 (2,000) 6.57 Expired/Forfeited (20,000) 15.11 (14,500) 16.78 Outstanding at end of year 223,002 $ 9.30 255,252 $ 9.63 Options exercisable at end of year 223,002 $ 9.30 255,252 $ 9.63 The grant-date fair value of options outstanding and exercisable at December 31, 2015 and 2014 was $ 687,000 and $ 908,000 , respectively. The weighted average remaining contractual term of these options is 3.1 years. There were no options granted in 2015 or 2014 . The total fair value of options exercised during the years ended December 31, 2015 and 2014 was $ 24,000 and $ 3,500 , respectively. The total income tax benefit recognized in the consolidated statements of operations for stock-based compensation arrangements was $4,000 and $8,000 for 2015 and 2014 , respectively. The following table summarizes information concerning all options outstanding and options exercisable as of December 31, 2015 : Options Outstanding Options Exercisable Weighted Weighted Weighted Average Average Aggregate Average Aggregate Range of Number Life Exercise Intrinsic Number Exercise Intrinsic Exercise Price Outstanding Remaining Price Value Exercisable Price Value $ 6.00 - 7.05 77,252 3.4 $ 6.20 $ 102,010 77,252 $ 6.20 $ 102,010 $ 8.28 - 9.15 70,750 4.2 $ 8.28 268,143 70,750 $ 8.28 268,143 $ 11.35 - 14.55 75,000 1.7 $ 13.45 - 75,000 $ 13.45 - Total 223,002 3.1 $ 9.30 $ 370,153 223,002 $ 9.30 $ 370,153 Board of Directors Stock Option and Restricted Stock Grants The Company’s Stock Plan was amended to authorize annual grants to non-employee members of the Board of Directors of restricted stock or stock options, or both , as determined by the Board . Options granted under the Plan generally expire ten years after the grant date and generally become exercisable over a four year period. Generally the restricted stock vests 100% after one year and is subject to restrictions on resale for an additional year. Restricted stock awards are subject to forfeiture if a board member terminates prior to the shares vesting. A summary of changes in Board of Directors unvested restricted stock as December 31, 2015 : Weighted Average Restricted Fair Value Stock Per Share Non-Vested Balance, December 31, 2013 18,290 $ 10.52 Granted 13,040 10.61 Vested (18,290) 10.52 Forfeited - - Non-Vested Balance, December 31, 2014 13,040 $ 10.61 Granted 13,940 10.76 Vested (13,040) 10.61 Forfeited - - Non-Vested Balance, December 31, 2015 13,940 $ 10.76 Employee Deferred Stock Award Grants Employee deferred stock awards are subject to forfeiture if an employee terminates prior to the vesting. Generally, t he awards vest ratably over a four -year period and compensation costs are recognized over the vesting period. Compensation costs are recorded in “S alaries and benefits ” on the Consolidated Statements of Operations. A summary of the changes in employee unvested deferred stock award grants as of December 31, 2015, is as follows: Weighted Average Deferred Fair Value Stock Per Share Non-Vested Balance, December 31, 2013 16,125 $ 9.87 Granted 23,000 10.46 Vested (4,375) 9.84 Forfeited - - Non-Vested Balance, December 31, 2014 34,750 $ 10.27 Granted 1,000 10.01 Vested (11,125) 10.17 Forfeited (750) - Non-Vested Balance, December 31, 2015 23,875 $ 10.31 At December 31, 2015, there was approximately $230,000 of total unrecognized stock-based compensation expense related to unvested restricted stock and deferred stock awards the Company expects to recognize over a weighted-average period of 1.5 years. Stock Appreciation Rights (“SARs”) As part of the Cooperative Marketing Agreement discussed in Note 1 2 , 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 December 31, 2015 , 0 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 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. On July 30, 2015, the Company sold the land and buildings related to the Shakopee Valley RV Park located in Shakopee, Minnesota to SMSC (“Shakopee Mdewakanton Sioux Community”) for $100,000 plus the cancellation of the vested and unvested SARs. The sale resu lted in a $347,000 gain on the Consolidated Statements of Operations - Gain on disposal of assets . Changes to the Company’s non-vested SARs during the years ended December 31, 2015 and 2014 , are as follows: SARs Weighted Average Fair Value Non-vested SARs at December 31, 2013 132,000 $ 5.41 Granted - - Vested (16,500) 4.50 Cancellations - - Non-vested SARs at December 31, 2014 115,500 $ 4.50 Granted - - Vested (16,500) 5.04 Cancellations (99,000) 5.39 Non-vested SARs at December 31, 2015 - $ -

Net Income Per Share Computatio

Net Income Per Share Computations	12 Months Ended
	Dec. 31, 2015
Net Income Per Share Computations [Abstract]
Net Income Per Share Computations	6. NET INCOME PER SHARE COMPUTATIONS The following is a reconciliation of the numerator and denominator of the net income per common share computations for the years ended December 31, 2015 and 2014: 2015 2014 Net income (numerator) amounts used for basic and diluted per share computations: $ 2,727,022 $ 2,411,155 Weighted average shares (denominator) of common stock outstanding: Basic 4,227,862 4,180,547 Plus dilutive effect of stock options 12,718 14,406 Diluted 4,240,580 4,194,953 Net income per common share: Basic $ 0.65 $ 0.58 Diluted 0.64 0.57 Options to purchase 75,000 shares of common stock at an average of $13.45 per share were outstanding but not included in the computation of diluted net income per share at December 31, 2015 because the options were out of the money at December 31, 2015 . Options to purchase 90,000 shares of common stock at an average of $ 14.06 per share were outstanding but not included in the computation of diluted net income per share at December 31, 2014 because the options were out of the money at December 31, 2014 .

General Credit Agreement

General Credit Agreement	12 Months Ended
	Dec. 31, 2015
General Credit Agreement [Abstract]
General Credit Agreement	7. 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 and expires May 4 , 201 6 . The Company had no borrowings under the credit line during the years ended December 31, 2015 or 2014 . The credit agreement contains certain covenants requiring the Company to maintain certain financial ratios. The Company was in compliance with these requirements as of December 31, 2015 .

Leases And Commitments

Leases And Commitments	12 Months Ended
	Dec. 31, 2015
Leases And Commitments [Abstract]
Leases And Commitments	8. LEASES AND COMMITMENTS Capital Lease Obligations On December 14, 2015, the Company entered into a five -year lease agreement (the “Agreement”) for approximately 32 acres of land adjacent to the Racetrack for a total purchase price (net present value of minimum lease payments) of $4.9 million. See No te 14. Land Sales and P urchase , for additional information on the land purchase. Title to the land will transfer to the Company at the end of the lease or when all payments have been made, if earlier. As part of the agreement, the Company paid the seller $1.7 million upon execution of the Agreement, including $1.4 million of proceeds from a prior land sale which was being held by an unrelated third party. The lease payments are payable monthly at $58,533 , with an interest rate of 4.0% and a maturity date of December 15, 2020. The following table shows the future minimum lease payments under the capital lease by years and the present value of the minimum lease payments as of December 31, 2015: Year ending December 31, Amount 2016 $ 702,397 2017 702,397 2018 702,397 2019 702,397 2020 702,768 Total minimum lease payments 3,512,358 Less: Amount representing interest (334,064) Present value of minimum lease payments 3,178,294 Less: Current portion (585,563) Long-term portion $ 2,592,731 As of December 31, 2015, the present value of minimum lease payments due within one year is $586,000 . Purchase Obligations 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 records and processes all wagers and calculates odds and payoffs. The amounts charged to operations for totalizator expenses for the years ended December 31, 2015 and 2014 were $224,000 and $226,000 , respectively. Operating Lease Obligations The Company has entered into operating leases for rental of office equipment and for track equipment to maintain the Racetrack. Amounts charged to operations under these agreements for the years ended December 31, 2015 and 2014 were $145,000 and $140,000 , respectively. All such leases expire in or before February 2018. Future minimum operating lease payments and purchase obligations are as follows : Payment due by period Total Amount Obligations Committed 2016 2017 2018 2019 2020 Thereafter Operating leases $ 58,900 $ 29,200 $ 27,300 $ 2,400 $ - $ - $ - Purchases $ 1,152,000 $ 226,000 $ 228,000 $ 230,000 $ 233,000 $ 235,000 $ -

Contingencies

Contingencies	12 Months Ended
	Dec. 31, 2015
Contingencies [Abstract]
Contingencies	9. CONTINGENCIES Canterbury Park Holding Corporation was incorporated on March 24, 1994. On March 29, 1994, the Company acquired all the outstanding securities of Jacobs Realty, Inc. (“JRI”) from Irwin Jacobs and IMR Fund, L.P. (an investment fund for various pension plans and trusts). JRI was merged into the Company, and the acquisition was accounted for under the purchase method of accounting whereby the acquired assets and liabilities have been recorded at the Company’s cost. The primary asset of JRI was Canterbury Downs Racetrack and the 325 acres of surrounding land. On May 20, 1994, the Company adopted a plan of Reorganization pursuant to which the sole shareholder of Canterbury Park Concessions, Inc. (“CPC”), and majority shareholder of the Company, agreed to exchange his shares of CPC stock for 198,888 shares of the Company’s common stock concurrent with the closing of a public offering. Pursuant to the Plan of Reorganization, CPC became a wholly-owned subsidiary of the Company in August 1994 when the Company completed the initial public offering of its common stock. This reorganization was treated in a manner similar to a pooling of interests. Net proceeds received by the Company from the public offering were approximately $ 4,847,000 , which along with additional borrowings under the Company’s line of credit with the majority shareholder, were used to pay off the remaining notes payable from the acquisition of JRI. In connection with the purchase of the Racetrack, the Company entered into an Earn Out Promissory Note dated March 29, 1994. In accordance with the Earn Out Note, 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 Communi ty (“SMSC”) which became effective on June 15, 2012 and was amended in January 2015 and 2016 . 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. 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 December 31, 2015 and as of the date of this report will not have a material impact on the Company’s consolidated financial positions or results of operations. The Company has committed to payment of statutory distributions under a $ 500,000 bond issued to the Minnesota Racing Commission as required by Minnesota statute. The Company was not required to make any payments related to this bond in 2015 or 2014 , and there is no liability related to this bond on the balance sheet as of December 31, 2015 .

Operating Segments

Operating Segments	12 Months Ended
	Dec. 31, 2015
Operating Segments [Abstract]
Operating Segments	10. OPERATING SEGMENTS The Company has three reportable operating segments: horse racing, Card Casino, and food and beverage . 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 food and beverage 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 process to produce those products and services. The Minnesota Racing Commission regulates the horse racing and Card Casino segments. Depreciation, interest expense and income taxes are allocated to the segments but no allocation is made to food and beverage for shared facilities. However, the food and beverage 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): Year Ended December 31, 2015 Horse Racing Card Casino Concessions Total Net revenues from external customers $ 14,979 $ 29,016 $ 8,268 $ 52,263 Intersegment revenues 750 - 1,397 2,147 Net interest income 3 - - 3 Depreciation 1,737 423 138 2,298 Segment (loss) income before income taxes (1,209) 5,806 1,363 5,960 At December 31, 2015 Segment Assets $ 44,283 $ 795 $ 17,303 $ 62,381 Year Ended December 31, 2014 Horse Racing Card Casino Concessions Total Net revenues from external customers $ 14,460 $ 27,030 $ 6,980 $ 48,470 Intersegment revenues 620 - 1,381 2,001 Net interest income 2 - - 2 Depreciation 1,601 422 115 2,138 Segment (loss) income before income taxes (882) 5,238 1,467 5,823 At December 31, 2014 Segment Assets $ 37,606 $ 1,217 $ 15,595 $ 54,418 The following are reconciliations of reportable segment revenues, income before income taxes, and assets, to the Company’s consolidated totals for the years ended December 31, 2015 and 2014 (in 000’s): 2015 2014 Revenues Total net revenue for reportable segments $ 54,410 $ 50,471 Elimination of intersegment revenues (2,147) (2,001) Total consolidated net revenues $ 52,263 $ 48,470 Income before income taxes Total segment income before income taxes $ 5,960 $ 5,823 Elimination of intersegment income before income taxes (1,343) (1,721) Total consolidated income before income taxes $ 4,617 $ 4,102 December 31, December 31, 2015 2014 Assets Total assets for reportable segments $ 62,381 $ 54,418 Elimination of intercompany receivables (17,040) (14,922) Total consolidated assets $ 45,341 $ 39,496

Supplementary Financial Informa

Supplementary Financial Information (Unaudited)	12 Months Ended
	Dec. 31, 2015
Supplementary Financial Information (Unaudited) [Abstract]
Supplementary Financial Information (Unaudited)	1 1 . SUPPLEMENTARY FINANCIAL INFORMATION (UNAUDITED) 2015 Quarter Ended March 31 June 30 September 30 December 31 Net revenues $9,881,038 $14,848,077 $16,731,568 $10,802,370 Operating expenses 9,218,732 13,879,109 15,344,057 9,207,288 Net income 388,680 571,650 813,059 953,633 Basic net income per share 0.09 0.14 0.19 0.22 Diluted net income per share 0.09 0.14 0.19 0.22 2014 Quarter Ended March 31 June 30 September 30 December 31 Net revenues $9,374,454 $13,784,714 $15,046,958 $10,263,711 Operating expenses 8,681,623 13,032,832 13,982,105 8,673,352 Net income 406,007 442,934 623,306 938,908 Basic net income per share 0.10 0.11 0.15 0.22 Diluted net income per share 0.10 0.11 0.15 0.22

Cooperative Marketing Agreement

Cooperative Marketing Agreement	12 Months Ended
	Dec. 31, 2015
Cooperative Marketing Agreement [Abstract]
Cooperative Marketing Agreement	12.COOPERATIVE MARKETING AGREEMENT On June 4, 2012, the Company entered into the CMA with the 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 thoroughbred and quarter horse through horse industry. Under the CMA, as amended, this is achieved through “Purse Enhancement Payments to Horsemen” paid directly to the MHBPA. Such payments have no direct impact on the Company’s consolidated financial statements or operations. Under the terms of the CMA, as amended, the SMSC paid the horsemen $6.2 million and $5.8 million for purse enhancements for the years ended December 31, 2015 and 2014, respectively. 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. Under the CMA, the SMSC paid the Company $944,000 and $660,000 for marketing purposes for the years ended December 31, 2015 and 2014, respectively. Effective January 2015, the CMA was amended to adjust the payment amounts between the “Purse Enhancement Payments to Horsemen” and “Marketing Payments to Canterbury Park.” Effective January 2016, the CMA was amended under the “Second Amendment” agreement to adjust the payment amounts between the “Purse Enhancement Payments to Horsemen” and “Marketing Payments to Canterbury Park.” SMSC has currently agreed to make the following purse enhancement and marketing payments for 2016 through 2022 : Year Purse Enhancement Payments to Horsemen 1 Marketing Payments to Canterbury Park 2016 $ 6,788,100 $ 1,197,900 2017 7,466,910 1,317,690 2018 7,650,000 1,350,000 2019 7,650,000 1,350,000 2020 7,650,000 1,350,000 2021 7,650,000 1,350,000 2022 7,650,000 1,350,000 1 - Includes $100,000 each year payable to various horsemen associations 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 year ended December 31, 2015 , the Company recorded $926,000 in other revenue and incurred $700,000 in advertising and marketing expense and $226,000 in depreciation related to the SMSC marketing payment. For the year ended December 31, 2014 , the Company recorded $825,000 in other revenue and incurred $608,000 in advertising and marketing expense and $217,000 in depreciation related to the SMSC marketing payment. The excess of amounts received over revenue earned is reflected as deferred revenue which is included in accounts payable on the consolidated balance sheets. Under the CMA, the Company agreed for the term of the CMA that 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. For the year ended December 31, 2015 , the Company recognized $142,000 of expense related to these stoc k appreciation rights, of which $142,000 was recorded as an offset to other revenue. For the year ended December 31, 2014 , the Compan y recognized $32,000 of expense related to these stock appreciation rights, of which $32,000 was recorded as an offset to other revenue. On July 30, 2015, the Company sold the land and buildings related to the Shakopee Valley RV Park located in Shakopee, Minnesota to SMSC for $100,000 plus the cancellation of the vested and unvested SARs. The sale resulted in a $347,000 gain on the Consolidated Statements of Operations –Gain on disposal of assets .

Insurance Recoveries

Insurance Recoveries	12 Months Ended
	Dec. 31, 2015
Insurance Recoveries [Abstract]
Insurance Recoveries	13 . INSURANCE RECOVERIES During 2014, the Company incurred damage to buildings from multiple severe storms at the Racetrack and received $988,000 in total insurance proceeds. As of December 31, 2014, the Company recognized a $958,000 insurance recoveries gain in the Consolidated Statements of Operations as “Gain on insurance recoveries”. During 2015, the Company received additional insurance proceeds of $495,000 and recognized a $495,000 insurance recoveries gain. The storms did not cause any material interruptions to the business or impact on the Company’s consolidated financial results of operations. Based on future events, the Company may receive additional insurance proceeds. The Company has concluded that these additional funds represent contingent gains and in accordance with U.S. GAAP, have not been accounted for them in the Company’s 2015 consolidated financial statements.

Land Sales And Purchase

Land Sales And Purchase	12 Months Ended
	Dec. 31, 2015
Land Sales And Purchase [Abstract]
Land Sales And Purchase	14. LAND SALES AND PURCHASE On October 6, 2015, the Company sold 6 acres of land adjacent to the Racetrack for $1,459,000 and recorded a gain of $660,000 on the Consolidated Statements of Operations – Gain on sale of land . Under the purchase agreement, the Company has the option to repurchase up to one acre within 3 years from closing date at the sale price of approximately $240,000 per acre. According to ASC 360-20-40-38 - Derecognition , the Company recorded the repurchase option acre as a deferred gain liability in the amount of $240,000 on the Consolidated Balance Sheets . Since the risks and rewards were not completely transferred to the buyer based on the repurchase option, the Company maintains the asset on our financials in the amount of $110,000 . The Company believes any additional expenses associated with the option under the profit-sharing method will be immaterial because land is a non-depreciable asset. This transaction was structured as a “deferred exchange using a qualified intermediary” pursuant to Internal Revenue Code (IRC) Section 1031 exchange (“1031 Exchange”) for income tax purposes. The proceeds of the land sale were issued directly to the qualified intermediary and the Company recorded a receivable. As a result of utilizing the 1031 Exchange, the gain on sale of land of $789,000 was deferred for income tax purposes. On December 14, 2015, the Company entered into a lease agreement to purchase approximately 32 acres of land adjacent to the Racetrack with a total purchase price of $4,881,000 . The Company paid $1,459,000 in cash that included land proceeds of $1,443,000 that was paid directly from the qualified intermediary. As of December 31, 2015, the proceeds receivable balance due from the qualified intermediary totaled $16,000. The lease obligation of $3,178,000 is payable monthly, beginning January 15, 2016, in the amount of $58,533 , including a 4% annual interest rate, through December 15, 2020. This transaction was also structured as a “deferred exchange using a qualified intermediary” pursuant to IRC 1031 exchange for income tax purposes. On December 23, 2015, the Company entered into purchase agreement to sell approximately 24 acres of land adjacent to the Racetrack property. Under this agreement the buyer agreed to purchase the land for $4,300,000 . This agreement is structured to utilize the IRC 1031 Exchange and the Company intends to utilize the proceeds to pay the remaining balance of the lease agreement. The Company anticipates closing within the next six months

Summary Of Significant Accoun21

Summary Of Significant Accounting Policies (Policy)	12 Months Ended
	Dec. 31, 2015
Summary Of Significant Accounting Policies [Abstract]
Business	Business – Canterbury Park Holding Corporation (the “Company”) was incorporated on March 24, 1994 and conducts pari-mutuel wagering operations and hosts “unbanked” card games at its Canterbury Park Racetrack and Card Casino facility (the “Racetrack”) in Shakopee, Minnesota. The Company’s pari-mutuel wagering operations include both wagering on thoroughbred and quarter horse races during live meets at the Racetrack each year from May until September and year-round wagering on races held at out-of-state racetracks that are televised simultaneously at the Racetrack (“simulcasting”). Unbanked card games, in which patrons compete against each other, are hosted in the Card Casino at the Racetrack. The Card Casino operates 24 hours a day, seven days a week. The Card Casino offers both poker and table games at up to 80 tables. The Company also derives revenues from related services and activities, such as food and beverage, parking, advertising signage, publication sales and from other entertainment events and activities held at the Racetrack. The consolidated financial statements include the accounts of the Company, Canterbury Park Concessions, Inc. (CPC), and Shakopee Valley RV Park Acquisition Company, LLC after elimination of intercompany accounts and transactions.
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, food and beverage 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 food and beverage 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 posi tive intent and ability to hold them to maturity, and are measured at amortized cost. At December 31, 2015 and 2014 , 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 December 31, 2015 and 2014 . 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 catering and 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 and vouchers upon the completion of a race and when a voucher is printed, respectively. 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 $ 5,429,000 and $ 5,850,000 for the years ended December 31, 2015 and 2014 , 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 – The Company reviews its long-lived assets whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. In the event that facts and circumstances indicate that the carrying value of any long-lived assets may be impaired, an evaluation of recoverability would be performed. If the sum of the expected undiscounted cash flows is less than the carrying value of the related asset or group of assets, a loss is recognized for the difference between the fair value and carrying value of the asset or group of assets. During 2015 and 2014, the Company determined that no evaluations of recoverability were necessary.
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 years ended December 31, 2015 and 2014 , 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, expect for the capital lease obligation, and given the short-term nature of the related account balances, carrying amounts reported in the consolidated balance sheets approximate fair value. The capital lease obligation interest rate is consistent with market rates of similar debt obligations.
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. For more information on the Company’s stock-based compensation plans, see Note 5.
Reclassifications	Reclassifications – Prior period financial statement amounts have been reclassified to conform to current period presentations. Insurance recovery gains received in the third quarter of 2015 have been reclassified on the Consolidated Statement of Operations to Gain on insurance recoveries from Other Revenue in the amount of $120,100 .
Recent Accounting Pronouncement	Recent Accounting Pronouncement – In November 2015, the FASB issued Accounting Standards Update (“ASU”) 2015-17, Balance Sheet Classification of Deferred Taxes , which simplifies the presentation of deferred tax assets and liabilities by requiring the deferred tax assets and liabilities be presented as non-current on the balance sheet. We early adopted this guidance, prospectively, for the year ended December 31, 2015. In August 2014, the FASB issued ASU No. 2014-15, Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern , which explicitly requires management to assess an entity's ability to continue as a going concern, and to provide related footnote disclosures in certain circumstances. Management will be required to assess, in each interim and annual period, if there is substantial doubt of an entity's ability to continue as a going concern as evidenced by relevant known or knowable conditions including an entity's ability to meet its future obligations. Management will be required to provide disclosures regardless of whether substantial doubt is alleviated by management's plans. The guidance will become effective for annual fiscal periods ending after December 15, 2016. In May, 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers ("ASU 2014-09"). ASU 2014-09 is a new comprehensive standard for revenue recognition that is based on the core principle that revenue be recognized in a manner that depicts the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The new guidance implements a five-step process for customer contract revenue recognition. The guidance also requires enhanced disclosures relating to the nature, amount, timing, and uncertainty of revenues and cash flows arising from contracts with customers. This new guidance is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period, and early adoption is prohibited. Entities can transition to the new guidance either retrospectively or as a cumulative-effect adjustment as of the date of adoption. The Company is evaluating the impact of the amended revenue recognition guidance on the Company’s consolidated financial statements but does not believe it will have a significant impact.

Land, Buildings And Equipment (

Land, Buildings And Equipment (Tables)	12 Months Ended
	Dec. 31, 2015
Land, Buildings And Equipment [Abstract]
Land, Buildings And Equipment, At Cost	2015 2014 Land $ 10,897,378 $ 6,673,076 Buildings and building improvements 28,521,564 26,522,813 Furniture and equipment 20,236,965 18,890,728 59,655,907 52,086,617 Accumulated depreciation (25,538,147) (24,010,738) $ 34,117,760 $ 28,075,879

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2015
Income Taxes [Abstract]
Reconciliation Of Effective Tax Rate	2015 2014 Federal tax expense at statutory rates $ 1,569,667 $ 1,394,793 Nondeductible lobbying expense 25,536 29,518 State expense, net of federal impact 312,950 280,263 Stock option expense (910) (364) Other (17,594) (13,033) $ 1,889,649 $ 1,691,177
Income Tax Expense (Benefit)	2015 2014 Current Federal $ 932,257 $ 1,070,360 State 321,992 307,117 1,254,249 1,377,477 Deferred, primarily Federal 635,400 313,700 $ 1,889,649 $ 1,691,177
Deferred Tax Assets And Liabilities	2015 2014 Deferred tax liabilities Vacation accrual $ 79,600 $ 73,300 Player rewards program accrual 191,600 202,100 Stock options and stock appreciation rights 256,300 404,300 Tax depreciation greater than book depreciation (2,408,400) (2,254,200) Deferred gain on sale of land (453,800) (104,000) Other (7,200) (28,000) Net long-term deferred tax (liabilities) assets $ (2,341,900) $ (1,706,500)

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2015
Stock-Based Compensation [Abstract]
Stock Options Activity	2015 2014 Weighted Weighted Average Average Number of Exercise Number of Exercise Shares Price Shares Price Outstanding at beginning of year 255,252 $ 9.63 271,752 $ 9.99 Granted - - - - Exercised (12,250) 6.70 (2,000) 6.57 Expired/Forfeited (20,000) 15.11 (14,500) 16.78 Outstanding at end of year 223,002 $ 9.30 255,252 $ 9.63 Options exercisable at end of year 223,002 $ 9.30 255,252 $ 9.63
Stock Options By Exercise Price Range	Options Outstanding Options Exercisable Weighted Weighted Weighted Average Average Aggregate Average Aggregate Range of Number Life Exercise Intrinsic Number Exercise Intrinsic Exercise Price Outstanding Remaining Price Value Exercisable Price Value $ 6.00 - 7.05 77,252 3.4 $ 6.20 $ 102,010 77,252 $ 6.20 $ 102,010 $ 8.28 - 9.15 70,750 4.2 $ 8.28 268,143 70,750 $ 8.28 268,143 $ 11.35 - 14.55 75,000 1.7 $ 13.45 - 75,000 $ 13.45 - Total 223,002 3.1 $ 9.30 $ 370,153 223,002 $ 9.30 $ 370,153
Summary Of Changes In Restricted Stock	Weighted Average Restricted Fair Value Stock Per Share Non-Vested Balance, December 31, 2013 18,290 $ 10.52 Granted 13,040 10.61 Vested (18,290) 10.52 Forfeited - - Non-Vested Balance, December 31, 2014 13,040 $ 10.61 Granted 13,940 10.76 Vested (13,040) 10.61 Forfeited - - Non-Vested Balance, December 31, 2015 13,940 $ 10.76
Summary of Changes in Employee Deferred Stock Award Grants	Weighted Average Deferred Fair Value Stock Per Share Non-Vested Balance, December 31, 2013 16,125 $ 9.87 Granted 23,000 10.46 Vested (4,375) 9.84 Forfeited - - Non-Vested Balance, December 31, 2014 34,750 $ 10.27 Granted 1,000 10.01 Vested (11,125) 10.17 Forfeited (750) - Non-Vested Balance, December 31, 2015 23,875 $ 10.31
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) 4.50 Cancellations - - Non-vested SARs at December 31, 2014 115,500 $ 4.50 Granted - - Vested (16,500) 5.04 Cancellations (99,000) 5.39 Non-vested SARs at December 31, 2015 - $ -

Net Income Per Share Computat25

Net Income Per Share Computations (Tables)	12 Months Ended
	Dec. 31, 2015
Net Income Per Share Computations [Abstract]
Schedule Of Earnings Per Share Reconciliation	2015 2014 Net income (numerator) amounts used for basic and diluted per share computations: $ 2,727,022 $ 2,411,155 Weighted average shares (denominator) of common stock outstanding: Basic 4,227,862 4,180,547 Plus dilutive effect of stock options 12,718 14,406 Diluted 4,240,580 4,194,953 Net income per common share: Basic $ 0.65 $ 0.58 Diluted 0.64 0.57

Leases And Commitments (Tables)

Leases And Commitments (Tables)	12 Months Ended
	Dec. 31, 2015
Leases And Commitments [Abstract]
Schedule Of Future Minimum Lease Payments	Year ending December 31, Amount 2016 $ 702,397 2017 702,397 2018 702,397 2019 702,397 2020 702,768 Total minimum lease payments 3,512,358 Less: Amount representing interest (334,064) Present value of minimum lease payments 3,178,294 Less: Current portion (585,563) Long-term portion $ 2,592,731
Schedule Of Future Minimum Operating Lease Payments And Purchase Obligations	Payment due by period Total Amount Obligations Committed 2016 2017 2018 2019 2020 Thereafter Operating leases $ 58,900 $ 29,200 $ 27,300 $ 2,400 $ - $ - $ - Purchases $ 1,152,000 $ 226,000 $ 228,000 $ 230,000 $ 233,000 $ 235,000 $ -

Operating Segments (Tables)

Operating Segments (Tables)	12 Months Ended
	Dec. 31, 2015
Operating Segments [Abstract]
Schedule Of The Company's Operating Segments	Year Ended December 31, 2015 Horse Racing Card Casino Concessions Total Net revenues from external customers $ 14,979 $ 29,016 $ 8,268 $ 52,263 Intersegment revenues 750 - 1,397 2,147 Net interest income 3 - - 3 Depreciation 1,737 423 138 2,298 Segment (loss) income before income taxes (1,209) 5,806 1,363 5,960 At December 31, 2015 Segment Assets $ 44,283 $ 795 $ 17,303 $ 62,381 Year Ended December 31, 2014 Horse Racing Card Casino Concessions Total Net revenues from external customers $ 14,460 $ 27,030 $ 6,980 $ 48,470 Intersegment revenues 620 - 1,381 2,001 Net interest income 2 - - 2 Depreciation 1,601 422 115 2,138 Segment (loss) income before income taxes (882) 5,238 1,467 5,823 At December 31, 2014 Segment Assets $ 37,606 $ 1,217 $ 15,595 $ 54,418
Reconciliation Of Revenues	2015 2014 Revenues Total net revenue for reportable segments $ 54,410 $ 50,471 Elimination of intersegment revenues (2,147) (2,001) Total consolidated net revenues $ 52,263 $ 48,470
Reconciliation Of Income Before Income Taxes	Income before income taxes Total segment income before income taxes $ 5,960 $ 5,823 Elimination of intersegment income before income taxes (1,343) (1,721) Total consolidated income before income taxes $ 4,617 $ 4,102
Reconciliation Of Assets	December 31, December 31, 2015 2014 Assets Total assets for reportable segments $ 62,381 $ 54,418 Elimination of intercompany receivables (17,040) (14,922) Total consolidated assets $ 45,341 $ 39,496

Supplementary Financial Infor28

Supplementary Financial Information (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2015
Supplementary Financial Information (Unaudited) [Abstract]
Schedule Of Supplementary Financial Information	2015 Quarter Ended March 31 June 30 September 30 December 31 Net revenues $9,881,038 $14,848,077 $16,731,568 $10,802,370 Operating expenses 9,218,732 13,879,109 15,344,057 9,207,288 Net income 388,680 571,650 813,059 953,633 Basic net income per share 0.09 0.14 0.19 0.22 Diluted net income per share 0.09 0.14 0.19 0.22 2014 Quarter Ended March 31 June 30 September 30 December 31 Net revenues $9,374,454 $13,784,714 $15,046,958 $10,263,711 Operating expenses 8,681,623 13,032,832 13,982,105 8,673,352 Net income 406,007 442,934 623,306 938,908 Basic net income per share 0.10 0.11 0.15 0.22 Diluted net income per share 0.10 0.11 0.15 0.22

Cooperative Marketing Agreeme29

Cooperative Marketing Agreement (Tables)	12 Months Ended
	Dec. 31, 2015
Cooperative Marketing Agreement [Abstract]
Purse Enhancement and Marketing Payments	Year Purse Enhancement Payments to Horsemen 1 Marketing Payments to Canterbury Park 2016 $ 6,788,100 $ 1,197,900 2017 7,466,910 1,317,690 2018 7,650,000 1,350,000 2019 7,650,000 1,350,000 2020 7,650,000 1,350,000 2021 7,650,000 1,350,000 2022 7,650,000 1,350,000 1 - Includes $100,000 each year payable to various horsemen associations

Summary Of Significant Accoun30

Summary Of Significant Accounting Policies (Narrative) (Details)	12 Months Ended
	Dec. 31, 2015USD ($)item	Dec. 31, 2014USD ($)
Summary Of Significant Accounting Policies [Line Items]
Casino open, number of hours daily	24 hours
Casino open, number of days weekly	7 days
Minnesota State law, maximum number of game tables | item	80
Funds Due To Organization	$ 5,429,000	$ 5,850,000
Reclassified from Other Revenue	120,100
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

Land, Buildings And Equipment31

Land, Buildings And Equipment (Land, Buildings And Equipment, At Cost) (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Gross	$ 59,655,907	$ 52,086,617
Accumulated depreciation	(25,538,147)	(24,010,738)
Net	34,117,760	28,075,879
Land [Member]
Property, Plant and Equipment [Line Items]
Gross	10,897,378	6,673,076
Building And Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Gross	28,521,564	26,522,813
Furniture And Equipment [Member]
Property, Plant and Equipment [Line Items]
Gross	$ 20,236,965	$ 18,890,728

Income Taxes (Reconciliation Of

Income Taxes (Reconciliation Of Effective Tax Rate) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Income Taxes [Abstract]
Federal tax expense at statutory rates	$ 1,569,667	$ 1,394,793
Nondeductible lobbying expense	25,536	29,518
State expense, net of federal impact	312,950	280,263
Stock option expense	(910)	(364)
Other	(17,594)	(13,033)
Income tax expense	$ 1,889,649	$ 1,691,177

Income Taxes (Income Tax Expens

Income Taxes (Income Tax Expense (Benefit)) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Income Taxes [Abstract]
Current, Federal	$ 932,257	$ 1,070,360
Current, State	321,992	307,117
Current, Total	1,254,249	1,377,477
Deferred, primarily Federal	635,400	313,700
Income tax expense	$ 1,889,649	$ 1,691,177

Income Taxes (Deferred Tax Asse

Income Taxes (Deferred Tax Assets And Liabilities) (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Income Taxes [Abstract]
Vacation accrual	$ 79,600	$ 73,300
Player rewards program accrual	191,600	202,100
Stock options and stock appreciation rights	256,300	404,300
Tax depreciation greater than book depreciation	(2,408,400)	(2,254,200)
Deferred gain on sale of land	(453,800)	(104,000)
Other	(7,200)	(28,000)
Net long-term deferred tax (liabilites) assets	$ (2,341,900)	$ (1,706,500)

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Aug. 24, 2012
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Minimum hours per week required to participate in ESPP	15 hours
Period of intervals after which common stock may be purchased by employees	3 months
Percentage of fair market value of common stock purchased at by employees	90.00%
Number of shares purchased by employees under Employee Stock Purchase Plan	10,869	8,380
Shares issued for Employee Stock Purchase Plan	279,200
Shares available under plan	350,000
KSOP [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period of service required to be eligible for KSOP	6 months
Employer contributions to 401(k) plan	$ 195,000	$ 154,000
Stock Repurchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of additional shares authorized for repurchase			100,000
Shares repurchased	0	0

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) - USD ($)	Oct. 06, 2015	Jul. 30, 2015	Jun. 14, 2012	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense				$ 284,628	$ 217,094
Weighted Average Remaining Contractual Life in Years				3 years 1 month 6 days
Number of options granted
Proceeds from sale of RV Park				$ 99,441	$ 500
Gain on disposal of assets	$ 660,000			$ 347,348	500
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available under plan				1,450,000
Share-based compensation shares available for grant				159,100
Share-based compensation, expiration period				10 years
Period options become exercisable				4 years
Outstanding and exercisable options grant date fair value				$ 687,000	$ 908,000
Number of options granted				0	0
Fair value of options exercised				$ 24,000	$ 3,500
Total income tax expense (benefit) for stock-based compensation arrangements				$ 4,000	$ 8,000
Employee Deferred Stock Award [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, other than options granted				1,000	23,000
Share-based compensation, vesting period				4 years
Unrecognized compensation costs				$ 230,000
Recognition period for unrecognized compensation costs				1 year 6 months
Share-based compensation, nonvested number of shares				23,875	34,750	16,125
Share-based Compensation, nonvested, weighted average grant date fair value				$ 10.31	$ 10.27	$ 9.87
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock, percentage that will vest				100.00%
Share-based compensation, vesting period				1 year
Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense				$ 142,000	$ 32,000
Share-based compensation, other than options granted			165,000
Share-based compensation, nonvested number of shares					115,500	132,000
Share-based Compensation, nonvested, weighted average grant date fair value					$ 4.50	$ 5.41
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	0
Number of remaining Rights vest per year				16,500
Shakopee Valley RV Park [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Proceeds from sale of RV Park		$ 100,000
Gain on disposal of assets		$ 347,000

Stock-Based Compensation (Stock

Stock-Based Compensation (Stock Options Activity) (Details) - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Stock-Based Compensation [Abstract]
Outstanding at beginning of year, Number of Options	255,252	271,752
Granted, Number of Options
Exercised, Number of Options	(12,250)	(2,000)
Expired/Forfeited, Number of Options	(20,000)	(14,500)
Outstanding at end of period, Number of Options	223,002	255,252
Exercisable, Number of Options	223,002	255,252
Outstanding beginning of year, Weighted Average Exercise Price	$ 9.63	$ 9.99
Granted, Weighted Average Exercise Price
Exercised, Weighted Average Exercise Price	$ 6.70	$ 6.57
Expired/Forfeited, Weighted Average Exercise Price	15.11	16.78
Outstanding at end of period, Weighted Average Exercise Price	9.30	9.63
Exercisable, Weighted Average Exercise Price	$ 9.30	$ 9.63

Stock-Based Compensation (Sto38

Stock-Based Compensation (Stock Options By Exercise Price Range) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding	223,002	255,252	271,752
Weighted Average Remaining Contractual Life in Years	3 years 1 month 6 days
Weighted Average Exercise Price	$ 9.30	$ 9.63	$ 9.99
Options Outstanding, Aggregate Intrinsic Value	$ 370,153
Options Exercisable	223,002
Weighted Average Exercise Price	$ 9.30	$ 9.63
Options Exercisable, Aggregate Intrinsic Value	$ 370,153
$6.00 - 7.05 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price Range, Lower Range Limit	$ 6
Exercise Price Range, Upper Range Limit	$ 7.05
Options Outstanding	77,252
Weighted Average Remaining Contractual Life in Years	3 years 4 months 24 days
Weighted Average Exercise Price	$ 6.20
Options Outstanding, Aggregate Intrinsic Value	$ 102,010
Options Exercisable	77,252
Weighted Average Exercise Price	$ 6.20
Options Exercisable, Aggregate Intrinsic Value	$ 102,010
$8.28 - 9.15 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price Range, Lower Range Limit	$ 8.28
Exercise Price Range, Upper Range Limit	$ 9.15
Options Outstanding	70,750
Weighted Average Remaining Contractual Life in Years	4 years 2 months 12 days
Weighted Average Exercise Price	$ 8.28
Options Outstanding, Aggregate Intrinsic Value	$ 268,143
Options Exercisable	70,750
Weighted Average Exercise Price	$ 8.28
Options Exercisable, Aggregate Intrinsic Value	$ 268,143
$11.35 - 14.55 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price Range, Lower Range Limit	$ 11.35
Exercise Price Range, Upper Range Limit	$ 14.55
Options Outstanding	75,000
Weighted Average Remaining Contractual Life in Years	1 year 8 months 12 days
Weighted Average Exercise Price	$ 13.45
Options Exercisable	75,000
Weighted Average Exercise Price	$ 13.45

Stock-Based Compensation (Summa

Stock-Based Compensation (Summary Of Changes In Restricted Stock) (Details) - Restricted Stock [Member] - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-Vested, Beginning Balance	13,040	18,290
Stock Options, Granted	13,940	13,040
Stock Options, Vested	(13,040)	(18,290)
Stock Options, Forfeited
Non-Vested, Ending Balance	13,940	13,040
Non-Vested, Weighted Average Fair Value Per Share, Beginning Balance	$ 10.61	$ 10.52
Weighted Average Fair Value Per Share, Granted	10.76	10.61
Weighted Average Fair Value Per Share, Vested	$ 10.61	$ 10.52
Weighted Average Fair Value Per Share, Forfeited
Non-Vested, Weighted Average Fair Value Per Share, Ending Balance	$ 10.76	$ 10.61

Stock-Based Compensation (Sum40

Stock-Based Compensation (Summary Of Changes In Employee Deferred Stock Award Grants) (Details) - Employee Deferred Stock Award [Member] - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-vested, Beginning Balance	34,750	16,125
Granted	1,000	23,000
Vested	(11,125)	(4,375)
Forfeited	(750)
Non-vested, Ending Balance	23,875	34,750
Non-vested, Weighted Average Fair Value, Beginning Balance	$ 10.27	$ 9.87
Granted, Weighted Average Fair Value	10.01	10.46
Vested, Weighted Average Fair Value	$ 10.17	$ 9.84
Forfeited, Weighted Average Fair Value
Non-vested, Weighted Average Fair Value, Ending Balance	$ 10.31	$ 10.27

Stock-Based Compensation (Sto41

Stock-Based Compensation (Stock Appreciation Rights Award Activity) (Details) - Stock Appreciation Rights (SARs) [Member] - $ / shares	Jun. 14, 2012	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-vested, Beginning Balance		115,500	132,000
Granted	165,000
Vested		(16,500)	(16,500)
Cancellations		(99,000)
Non-vested, Ending Balance			115,500
Non-vested, Weighted Average Fair Value, Beginning Balance		$ 4.50	$ 5.41
Granted, Weighted Average Fair Value
Vested, Weighted Average Fair Value		$ 5.04	$ 4.50
Cancellations, Weighted Average Fair Value		$ 5.39
Non-vested, Weighted Average Fair Value, Ending Balance			$ 4.50

Net Income Per Share Computat42

Net Income Per Share Computations (Narrative) (Details) - $ / shares	Dec. 31, 2015	Dec. 31, 2014
Net Income Per Share Computations [Abstract]
Number of common stock shares to purchase under stock options	75,000	90,000
Average price of common shares under stock options	$ 13.45	$ 14.06

Net Income Per Share Computat43

Net Income Per Share Computations (Schedule Of Earnings Per Share Reconciliation) (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Net Income Per Share Computations [Abstract]
Net income (numerator) amounts used for basic and diluted per share computations:	$ 953,633	$ 813,059	$ 571,650	$ 388,680	$ 938,908	$ 623,306	$ 442,934	$ 406,007	$ 2,727,022	$ 2,411,155
Weighted average shares (denominator) of common stock outstanding:
Basic									4,227,862	4,180,547
Plus dilutive effect of stock options									12,718	14,406
Diluted									4,240,580	4,194,953
Net income per common share:
Basic	$ 0.22	$ 0.19	$ 0.14	$ 0.09	$ 0.22	$ 0.15	$ 0.11	$ 0.10	$ 0.65	$ 0.58
Diluted	$ 0.22	$ 0.19	$ 0.14	$ 0.09	$ 0.22	$ 0.15	$ 0.11	$ 0.10	$ 0.64	$ 0.57

General Credit Agreement (Narra

General Credit Agreement (Narrative) (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
General Credit Agreement [Abstract]
Revolving credit line maximum borrowing amount	$ 3,000,000
Borrowings under credit line	$ 0	$ 0

Leases And Commitments (Narrati

Leases And Commitments (Narrative) (Details)	Dec. 14, 2015USD ($)a	Mar. 31, 2014	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Operating Leased Assets [Line Items]
Lease agreement term			5 years
Number of acres purchased | a	32
Total purchase price of land	$ 4,881,000
Present value of minimum lease payments due within one year			$ 585,563
Cash payment for land	1,459,000		1,700,000
Monthly lease payment			$ 58,533
Annual interest rate			4.00%
Length of service agreement to totalizator provider		7 years
Service agreement charges			$ 224,000	$ 226,000
Operating lease rent expense charged to operations			$ 145,000	$ 140,000
Land Proceeds [Member]
Operating Leased Assets [Line Items]
Cash payment for land	$ 1,443,000

Leases And Commitments (Schedul

Leases And Commitments (Schedule Of Future Minimum Lease Payments) (Details)	Dec. 31, 2015USD ($)
Leases And Commitments [Abstract]
2,016	$ 702,397
2,017	702,397
2,018	702,397
2,019	702,397
2,020	702,768
Total minimum lease payments	3,512,358
Less: Amounts representing interest	(334,064)
Present value of minimum lease payments	3,178,294
Less: Current Portion	(585,563)
Long-term portion	$ 2,592,731

Leases And Commitments (Sched47

Leases And Commitments (Schedule Of Future Minimum Operating Lease Payments And Purchase Obligations) (Details)	Dec. 31, 2015USD ($)
Leases And Commitments [Abstract]
Operating leases, Total Amount Committed	$ 58,900
Operating leases, 2016	29,200
Operating leases, 2017	27,300
Operating leases, 2018	$ 2,400
Operating leases, 2019
Operating leases, 2020
Operating leases, Thereafter
Purchases, Total Amount Committed	$ 1,152,000
Purchases, 2016	226,000
Purchases, 2017	228,000
Purchases, 2018	230,000
Purchases, 2019	233,000
Purchases, 2020	$ 235,000

Contingencies (Narrative) (Deta

Contingencies (Narrative) (Details)	12 Months Ended
	Dec. 31, 2015USD ($)aitemshares
Contingencies [Abstract]
Area of land | a	325
Number of shares agreed to exchange | shares	198,888
Proceeds from issuance Initial Public Offering	$ 4,847,000
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 | item	2
Number of years defined by off-track betting agreement	5 years
Minimum number of payments to IMR Fund, L.P. | item	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
Bond face amount	$ 500,000

Operating Segments (Narrative)

Operating Segments (Narrative) (Details)	12 Months Ended
	Dec. 31, 2015segment
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 Operating Segments) (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Segment Reporting Information [Line Items]
Net revenues	$ 10,802,370	$ 16,731,568	$ 14,848,077	$ 9,881,038	$ 10,263,711	$ 15,046,958	$ 13,784,714	$ 9,374,454	$ 52,263,053	$ 48,469,837
Net interest income									3,005	2,407
Depreciation									2,297,613	2,137,778
Segment (loss) income before income taxes									4,616,671	4,102,332
Segment Assets	45,341,082				39,495,679				45,341,082	39,495,679
Reportable Segment [Member]
Segment Reporting Information [Line Items]
Net revenues									54,410,000	50,471,000
Net interest income									3,000	2,000
Depreciation									2,298,000	2,138,000
Segment (loss) income before income taxes									5,960,000	5,823,000
Segment Assets	62,381,000				54,418,000				62,381,000	54,418,000
External Customers [Member]
Segment Reporting Information [Line Items]
Net revenues									52,263,000	48,470,000
Intersegment [Member]
Segment Reporting Information [Line Items]
Net revenues									2,147,000	2,001,000
Horse Racing [Member] | Reportable Segment [Member]
Segment Reporting Information [Line Items]
Net interest income									3,000	2,000
Depreciation									1,737,000	1,601,000
Segment (loss) income before income taxes									(1,209,000)	(882,000)
Segment Assets	44,283,000				37,606,000				44,283,000	37,606,000
Horse Racing [Member] | External Customers [Member]
Segment Reporting Information [Line Items]
Net revenues									14,979,000	14,460,000
Horse Racing [Member] | Intersegment [Member]
Segment Reporting Information [Line Items]
Net revenues									750,000	620,000
Card Casino [Member] | Reportable Segment [Member]
Segment Reporting Information [Line Items]
Depreciation									423,000	422,000
Segment (loss) income before income taxes									5,806,000	5,238,000
Segment Assets	795,000				1,217,000				795,000	1,217,000
Card Casino [Member] | External Customers [Member]
Segment Reporting Information [Line Items]
Net revenues									29,016,000	27,030,000
Concessions [Member] | Reportable Segment [Member]
Segment Reporting Information [Line Items]
Depreciation									138,000	115,000
Segment (loss) income before income taxes									1,363,000	1,467,000
Segment Assets	$ 17,303,000				$ 15,595,000				17,303,000	15,595,000
Concessions [Member] | External Customers [Member]
Segment Reporting Information [Line Items]
Net revenues									8,268,000	6,980,000
Concessions [Member] | Intersegment [Member]
Segment Reporting Information [Line Items]
Net revenues									$ 1,397,000	$ 1,381,000

Operating Segments (Reconciliat

Operating Segments (Reconciliation Of Revenues) (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Segment Reporting, Revenue Reconciling Item [Line Items]
Total consolidated net revenues	$ 10,802,370	$ 16,731,568	$ 14,848,077	$ 9,881,038	$ 10,263,711	$ 15,046,958	$ 13,784,714	$ 9,374,454	$ 52,263,053	$ 48,469,837
Reportable Segment [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Total consolidated net revenues									54,410,000	50,471,000
Elimination Of Intersegment [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Total consolidated net revenues									$ (2,147,000)	$ (2,001,000)

Operating Segments (Reconcili52

Operating Segments (Reconciliation Of Income Before Income Taxes) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total consolidated income before income taxes	$ 4,616,671	$ 4,102,332
Reportable Segment [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total consolidated income before income taxes	5,960,000	5,823,000
Elimination Of Intersegment [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total consolidated income before income taxes	$ (1,343,000)	$ (1,721,000)

Operating Segments (Reconcili53

Operating Segments (Reconciliation Of Assets) (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Segment Reporting, Asset Reconciling Item [Line Items]
Total consolidated assets	$ 45,341,082	$ 39,495,679
Reportable Segment [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total consolidated assets	62,381,000	54,418,000
Elimination Of Intersegment [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total consolidated assets	$ (17,040,000)	$ (14,922,000)

Supplementary Financial Infor54

Supplementary Financial Information (Unaudited) (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Supplementary Financial Information (Unaudited) [Abstract]
Net revenues	$ 10,802,370	$ 16,731,568	$ 14,848,077	$ 9,881,038	$ 10,263,711	$ 15,046,958	$ 13,784,714	$ 9,374,454	$ 52,263,053	$ 48,469,837
Operating expenses	9,207,288	15,344,057	13,879,109	9,218,732	8,673,352	13,982,105	13,032,832	8,681,623	47,649,186	44,369,912
Net income	$ 953,633	$ 813,059	$ 571,650	$ 388,680	$ 938,908	$ 623,306	$ 442,934	$ 406,007	$ 2,727,022	$ 2,411,155
Basic net income per share	$ 0.22	$ 0.19	$ 0.14	$ 0.09	$ 0.22	$ 0.15	$ 0.11	$ 0.10	$ 0.65	$ 0.58
Diluted net income per share	$ 0.22	$ 0.19	$ 0.14	$ 0.09	$ 0.22	$ 0.15	$ 0.11	$ 0.10	$ 0.64	$ 0.57

Cooperative Marketing Agreeme55

Cooperative Marketing Agreement (Narrative) (Details) - USD ($)	Oct. 06, 2015	Jul. 30, 2015	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
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											$ 6,200,000	$ 5,800,000
Obligation under Agreement to support joint marketing activities due current											944,000	660,000
Revenues related to marketing payment											926,000	825,000
Advertising and marketing expenses related to marketing payment											700,000	608,000,000,000
Depreciation related to marketing payment											226,000	217,000
Stock based compensation expense											284,628	217,094
Expense recorded as an offset to revenue			$ 10,802,370	$ 16,731,568	$ 14,848,077	$ 9,881,038	$ 10,263,711	$ 15,046,958	$ 13,784,714	$ 9,374,454	52,263,053	48,469,837
Gain on disposal of assets	$ 660,000										347,348	500
Proceeds from sale of RV Park											99,441	500
Shakopee Valley RV Park [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Gain on disposal of assets		$ 347,000
Proceeds from sale of RV Park		$ 100,000
Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense											142,000	32,000
Expense recorded as an offset to revenue											$ 142,000	$ 32,000

Cooperative Marketing Agreeme56

Cooperative Marketing Agreement (Purse Enhancement And Marketing Payments) (Details)	12 Months Ended
	Dec. 31, 2015USD ($)
Cooperative Marketing Agreement [Abstract]
2016, Purse Enhancement Payments to Horesmen	$ 6,788,100	[1]
2017, Purse Enhancement Payments to Horesmen	7,466,910	[1]
2018, Purse Enhancement Payments to Horesmen	7,650,000	[1]
2019, Purse Enhancement Payments to Horesmen	7,650,000	[1]
2020, Purse Enhancement Payments to Horesmen	7,650,000	[1]
2021, Purse Enhancement Payments to Horesmen	7,650,000	[1]
2022, Purse Enhancement Payments to Horesmen	7,650,000	[1]
2016, Marketing Payments to Canterbury Park	1,197,900
2017, Marketing Payments to Canterbury Park	1,317,690
2018, Marketing Payments to Canterbury Park	1,350,000
2019, Marketing Payments to Canterbury Park	1,350,000
2020, Marketing Payments to Canterbury Park	1,350,000
2021, Marketing Payments to Canterbury Park	1,350,000
2022, Marketing Payments to Canterbury Park	1,350,000
Amount to various horsemen associations included each year in purse enhancement payments to horsemen	$ 100,000
[1]	Includes $100,000 each year payable to various horsemen associations

Insurance Recoveries (Narrative

Insurance Recoveries (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Insurance Recoveries [Abstract]
Total insurance proceeds	$ 495,000	$ 988,000
Insurance recoveries gain	$ 495,465	$ 957,597

Land Sales And Purchase (Narrat

Land Sales And Purchase (Narrative) (Details)	Dec. 23, 2015USD ($)a	Dec. 14, 2015USD ($)a	Oct. 06, 2015USD ($)a$ / a	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Land Sales and Purchase [Line Items]
Number of acres sold | a	24		6
Purchase price for land	$ 4,300,000		$ 1,459,000
Gain on sales of land			$ 660,000	$ 347,348	$ 500
Number of acres able to be purchased | a			1
Period of repurchase right, years			3 years
Repurchase price per acre | $ / a			240,000
Deferred gain on sale of property				240,000
Land asset maintained in Financials				110,000
Number of acres purchased | a		32
Total purchase price of land		$ 4,881,000
Cash payment for land		1,459,000		1,700,000
Receivable from qualified intermediary				16,336
Lease obligation				3,178,294
Monthly lease payment				$ 58,533
Annual interest rate				4.00%
Land Proceeds [Member]
Land Sales and Purchase [Line Items]
Cash payment for land		$ 1,443,000
1031 Exchange - Deferred for Income Tax [Member]
Land Sales and Purchase [Line Items]
Gain on sales of land				$ 789,000