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Consolidated Statements of Operations - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
OPERATING REVENUES:    
Net Revenues $ 66,823,881 $ 60,399,698
OPERATING EXPENSES:    
Purse expense 8,530,090 8,037,994
Minnesota Breeders’ Fund 1,118,968 1,061,624
Salaries and benefits 24,355,049 15,105,558
Depreciation 2,981,168 2,844,647
Advertising and marketing 3,098,437 1,677,424
Professional and contracted services 4,772,565 4,208,622
Loss on disposal of assets 157,435 0
Other operating expenses 4,946,914 4,893,750
Total Operating Expenses 55,943,422 42,881,792
Gain on sale of land (Note 12) 12,151 263,581
INCOME FROM OPERATIONS 10,892,610 17,781,487
OTHER INCOME (LOSS)    
Loss from equity investment (1,567,822) (2,703,299)
Interest income, net 909,958 719,365
Net Other Loss (657,864) (1,983,934)
INCOME BEFORE INCOME TAXES 10,234,746 15,797,553
INCOME TAX EXPENSE (Note 4) (2,721,800) (3,999,400)
NET INCOME $ 7,512,946 $ 11,798,153
Basic earnings per share (in dollars per share) $ 1.55 $ 2.47
Diluted earnings per share (in dollars per share) $ 1.54 $ 2.44
Weighted Average Basic Shares Outstanding (in shares) 4,854,339 4,776,007
Weighted Average Diluted Shares (in shares) 4,892,600 4,827,761
Casino [Member]    
OPERATING REVENUES:    
Net Revenues $ 40,218,953 $ 38,090,835
Pari-mutuel [Member]    
OPERATING REVENUES:    
Net Revenues 10,957,692 10,243,835
Food and Beverage [Member]    
OPERATING REVENUES:    
Net Revenues 8,227,105 6,185,832
OPERATING EXPENSES:    
Cost of goods and services sold 3,272,472 2,436,618
Product and Service, Other [Member]    
OPERATING REVENUES:    
Net Revenues 7,420,131 5,879,196
Other Pari-mutuel Expenses [Member]    
OPERATING EXPENSES:    
Cost of goods and services sold 962,579 999,654
Public Utilities [Member]    
OPERATING EXPENSES:    
Cost of goods and services sold $ 1,747,744 $ 1,615,901