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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
OPERATING REVENUES:        
Operating revenues $ 18,600,641 $ 18,370,511 $ 46,624,515 $ 47,103,183
OPERATING EXPENSES:        
Purse expense 2,085,277 2,339,588 5,441,449 5,687,347
Minnesota Breeders' Fund 290,104 301,713 813,906 806,274
Other pari-mutuel expenses 293,742 325,680 1,013,793 1,088,956
Salaries and benefits 7,147,203 6,605,051 19,829,175 18,801,475
Cost of food and beverage and other sales 1,571,048 1,320,792 3,398,220 3,010,323
Depreciation and amortization 785,327 659,498 1,987,067 1,895,723
Utilities 567,763 575,912 1,266,681 1,276,138
Advertising and marketing 947,377 1,034,612 1,894,898 2,273,831
Professional and Contracted Services 1,773,826 1,674,958 4,078,565 3,695,176
Loss on disposal of assets 6,376   114,413 99,934
Gain on insurance recoveries     (198,874) (21,064)
Other operating expenses 1,659,236 1,501,062 4,229,849 4,101,203
Total Operating Expenses 17,127,279 16,338,866 43,869,142 42,715,316
INCOME FROM OPERATIONS 1,473,362 2,031,645 2,755,373 4,387,867
OTHER INCOME        
Interest income, net 96,065 8,567 204,623 26,023
Net Other Income 96,065 8,567 204,623 26,023
INCOME BEFORE INCOME TAXES 1,569,427 2,040,212 2,959,996 4,413,890
INCOME TAX EXPENSE (418,942) (407,367) (795,164) (1,066,000)
NET INCOME $ 1,150,485 $ 1,632,845 $ 2,164,832 $ 3,347,890
Basic earnings per share $ 0.25 $ 0.36 $ 0.47 $ 0.75
Diluted earnings per share $ 0.25 $ 0.36 $ 0.47 $ 0.74
Weighted Average Basic Shares Outstanding 4,604,562 4,497,072 4,583,591 4,467,897
Weighted Average Diluted Shares 4,608,987 4,533,514 4,596,314 4,514,015
Cash dividends declared per share $ 0.07 $ 0.07 $ 0.21 $ 0.21
Pari-mutuel        
OPERATING REVENUES:        
Operating revenues $ 3,578,841 $ 3,955,613 $ 8,277,727 $ 9,001,324
Card Casino        
OPERATING REVENUES:        
Operating revenues 8,559,935 8,639,310 25,350,903 25,396,780
Food and beverage        
OPERATING REVENUES:        
Operating revenues 3,838,792 3,256,566 7,735,986 6,960,917
Other        
OPERATING REVENUES:        
Operating revenues $ 2,623,073 $ 2,519,021 $ 5,259,899 $ 5,744,162