Operating Segments

12 Months Ended

Dec. 31, 2012

Operating Segments [Abstract]

Operating Segments

11.OPERATING SEGMENTS

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 and the operation of an RV park.  The Card Casino segment represents operations of Canterbury Park’s Card Casino, and the concessions segment 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 regulates the horse racing and Card Casino segments.

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 paid approximately 25% of gross revenues earned on live racing and special event days to the horse racing segment for use of the facilities in 2012 and 2011. 

The following tables provide information about the Company’s operating segments (in 000’s):

	Year Ended December 31, 2012
	Horse Racing	Card Casino	Concessions	Total
Net revenues from external customers	$ 13,451	$ 25,999	$ 6,011	$ 45,461
Intersegment revenues	498	-	1,548	2,046
Net interest income	7	-	-	7
Depreciation	1,076	561	136	1,773
Segment (loss) income before income taxes	(1,976)	4,246	905	3,175

At December 31, 2012

Segment Assets $ 31,950  $ 2,337  $ 12,538  $ 46,825 

	Year Ended December 31, 2011
	Horse Racing	Card Casino	Concessions	Total
Net revenues from external customers	$ 12,148	$ 23,385	$ 5,053	$ 40,586
Intersegment revenues	315	-	1,383	1,698
Net interest income	7	-	-	7
Depreciation	1,119	634	141	1,894
Segment (loss) income before income taxes	(2,000)	3,221	544	1,765

At December 31, 2011

Segment Assets $ 30,832  $ 2,838  $ 11,222  $ 44,892 

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

		2012	2011
Revenues
	Net revenues for reportable segments	$ 47,507	$ 42,284
	Elimination of intersegment revenues	(2,046)	(1,698)
	Total consolidated net revenues	$ 45,461	$ 40,586

Income before income taxes

Total segment income before income taxes	$ 3,175	$ 1,765
Elimination of intersegment income before income taxes	(1,209)	(712)
Total consolidated income before income taxes	$ 1,966	$ 1,053

December 31, 2012 December 31, 2011

Assets

Total asset for reportable segments	$ 46,825	$ 44,892
Elimination of intercompany receivables	(11,925)	(10,708)
Total consolidated assets	$ 34,900	$ 34,184