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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
OPERATING REVENUES:    
Operating revenues $ 59,226,857 $ 59,141,570
OPERATING EXPENSES:    
Purse expense 6,979,508 7,181,683
Minnesota Breeders' Fund 1,052,682 1,039,452
Other pari-mutuel expenses 1,332,321 1,423,980
Salaries and benefits 25,527,560 24,322,840
Cost of food and beverage and other sales 4,075,313 3,586,617
Depreciation and amortization 2,679,728 2,563,579
Utilities 1,531,029 1,527,942
Advertising and marketing 2,152,260 2,499,345
Professional and contracted services 4,983,587 4,491,719
Loss on disposal of assets 261,728 120,940
Gain on insurance recoveries (198,874) (21,064)
Gain on sale of assets (12,141) (129,580)
Gain on transfer of land   (2,241,206)
Other operating expenses 5,226,392 5,128,394
Total Operating Expenses 55,591,093 51,494,641
INCOME FROM OPERATIONS 3,635,764 7,646,929
OTHER INCOME    
Interest income, net 326,773 61,515
Net Other Income 326,773 61,515
INCOME BEFORE INCOME TAXES 3,962,537 7,708,444
INCOME TAX EXPENSE (Note 4) (1,244,263) (1,990,000)
NET INCOME $ 2,718,274 $ 5,718,444
Basic earnings per share $ 0.59 $ 1.28
Diluted earnings per share $ 0.59 $ 1.26
Weighted Average Basic Shares Outstanding 4,594,118 4,481,667
Weighted Average Diluted Shares 4,607,809 4,534,936
Cash dividends declared per share $ 0.28 $ 0.28
Pari-mutuel    
OPERATING REVENUES:    
Operating revenues $ 9,832,945 $ 10,639,029
Card Casino    
OPERATING REVENUES:    
Operating revenues 34,406,195 33,919,928
Food and beverage    
OPERATING REVENUES:    
Operating revenues 8,894,985 8,017,747
Other    
OPERATING REVENUES:    
Operating revenues $ 6,092,732 $ 6,564,866