Operating Segments

12 Months Ended

Dec. 31, 2013

Operating Segments [Abstract]

Operating Segments

11.OPERATING SEGMENTS

The Company has 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 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):

	Year Ended December 31, 2013
	Horse Racing		Card Casino		Concessions		Total
Net revenues from external customers	$	14,704	$	25,545	$	6,487	$	46,736
Intersegment revenues		635		-		1,499		2,134
Net interest income		3		-		-		3
Depreciation		1,198		540		124		1,862
Segment (loss) income before income taxes		(2,138)		4,654		524		3,040
	At December 31, 2013
Segment Assets	$	34,870	$	1,640	$	13,845	$	50,355

	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		(2,191)		4,792		574		3,175
	At December 31, 2012
Segment Assets	$	31,950	$	2,337	$	12,538	$	46,825

The following are reconciliations of reportable segment revenues, income before income taxes, and assets, to the Company’s consolidated totals for the years ended December 31, 2013 and 2012 (in 000’s):

	2013		2012
Revenues
Total net revenue for reportable segments	$	48,870	$	47,507
Elimination of intersegment revenues		(2,134)		(2,046)
Total consolidated net revenues	$	46,736	$	45,461

Income before income taxes
Total segment income before income taxes	$	3,040	$	3,175
Elimination of intersegment income before income taxes		(1,304)		(1,209)
Total consolidated income before income taxes	$	1,736	$	1,966

	December 31,		December 31,
	2013		2012
Assets
Total assets for reportable segments	$	50,355	$	46,825
Elimination of intercompany receivables		(13,242)		(11,925)
Total consolidated assets	$	37,113	$	34,900