Operating Segments

9 Months Ended

Sep. 30, 2011

Operating Segments [Abstract]

Operating Segments

5.   OPERATING SEGMENTS

During the first nine months of 2011 and 2010, the Company had three reportable operating segments: horse racing, Card Casino, and concessions. The horse racing segment primarily represents simulcast and live horse racing operations. The Card Casino segment primarily represents operations of Canterbury Park's Card Casino, and the concessions segment primarily 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 processes to produce those products and services. The Minnesota Racing Commission ("MRC") regulates the horse racing and Card Casino segments.

The accounting policies of the operating segments are the same as those described in the summary of significant accounting policies in the 2010 Annual Report on Form 10-K.

Depreciation, interest expense and income taxes are allocated to the segments but no allocation is made to concessions for shared facilities. However, the concessions 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):

	Nine Months Ended September 30, 2011
	Horse Racing	Card Casino	Concessions	Total
Net revenues from external customers	$             9,873	$           16,813	$             4,205	$           30,891
Intersegment revenues	276	-	1,033	1,309
Net interest income	3	-	-	3
Depreciation	837	464	111	1,412
Segment (loss) income before income taxes	(1,807)	2,342	559	1,094
	At September 30, 2011
Segment Assets	$           30,799	$             2,972	$           11,260	$           45,031
	Nine Months Ended September 30, 2010
	Horse Racing	Card Casino	Concessions	Total
Net revenues from external customers	$           10,301	$           16,428	$             4,525	$           31,254
Intersegment revenues	550	-	1,168	1,718
Net interest income	13	-	-	13
Depreciation	894	470	110	1,474
Segment (loss) income before income taxes	(1,987)	742	410	(835)
Segment (loss) income before income taxes
and one-time loss on disposal of assets	(1,987)	1,652	410	75
	At December 31, 2010
Segment Assets	$           28,446	$             3,566	$           10,353	$           42,365

The following are reconciliations of reportable segment revenue, income before income taxes, and assets, to the Company's consolidated totals (in 000's):

	Nine Months Ended Sept. 30,
	2011	2010
Revenues
Total net revenue for reportable segments	$32,200	$32,972
Elimination of intersegment revenues	(1,309)	(1,718)
Total consolidated net revenues	$30,891	$31,254
Income (loss) before income taxes
Total segment income (loss) before income taxes	$1,094	($835)
Elimination of intersegment income before income taxes	(779)	(625)
Total consolidated income (loss) before income taxes	$315	($1,460)
	Sept. 30,	December 31,
Assets	2011	2010
Total assets for reportable segments	$45,031	$42,365
Elimination of intercompany receivables	(10,652)	(9,717)
Total consolidated assets	$34,379	$32,648