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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
OPERATING REVENUES:        
Operating revenues $ 2,767,855 $ 16,433,177 $ 13,716,814 $ 28,023,874
OPERATING EXPENSES:        
Purse expense 601,674 1,960,635 1,705,068 3,356,172
Minnesota Breeders' Fund 123,427 306,107 313,171 523,802
Other pari-mutuel expenses 58,691 451,685 279,540 720,051
Salaries and benefits 1,893,309 6,936,685 7,471,202 12,681,972
Cost of food and beverage and other sales 70,888 1,201,414 635,039 1,827,171
Depreciation and amortization 693,640 576,221 1,410,493 1,201,740
Utilities 202,021 376,803 492,632 698,918
Advertising and marketing 38,176 757,191 222,164 947,520
Professional and contracted services 610,405 1,338,353 1,582,729 2,304,739
Loss on disposal of assets       108,037
Gain on insurance recoveries   (204,274)   (198,974)
Other operating expenses 794,203 1,427,603 1,781,660 2,570,732
Total Operating Expenses 5,086,434 15,128,423 15,893,698 26,741,880
(LOSS) INCOME FROM OPERATIONS (2,318,579) 1,304,754 (2,176,884) 1,281,994
OTHER OPERATING INCOME (LOSS)        
Loss from equity investment (149,639)   (149,639) (2,377)
Interest income, net 169,358 45,319 333,048 108,558
Net Other Income 19,719 45,319 183,409 108,558
(LOSS) INCOME BEFORE INCOME TAXES (2,298,860) 1,350,073 (1,993,475) 1,390,552
INCOME TAX BENEFIT (EXPENSE) 1,117,663 (392,316) 1,067,499 (376,223)
NET (LOSS) INCOME $ (1,181,197) $ 957,757 $ (925,976) $ 1,014,329
Basic (loss) earnings per share $ (0.25) $ 0.21 $ (0.20) $ 0.22
Diluted (loss) earnings per share $ (0.25) $ 0.21 $ (0.20) $ 0.22
Weighted Average Basic Shares Outstanding 4,679,122 4,586,734 4,669,350 4,573,106
Weighted Average Diluted Shares 4,679,122 4,595,716 4,672,447 4,588,327
Cash dividends declared per share $ 0.00 $ 0.07 $ 0.00 $ 0.14
Pari-mutuel        
OPERATING REVENUES:        
Operating revenues $ 1,420,583 $ 3,208,076 $ 2,716,609 $ 4,698,886
Card Casino        
OPERATING REVENUES:        
Operating revenues 795,195 8,891,005 8,356,367 16,790,968
Food and beverage        
OPERATING REVENUES:        
Operating revenues 111,137 2,544,393 1,230,132 3,897,194
Other        
OPERATING REVENUES:        
Operating revenues $ 440,940 $ 1,789,703 $ 1,413,706 $ 2,636,826