8-K

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                    FORM 8-K

                                 CURRENT REPORT
     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934


        Date of report (Date of earliest event reported): March 28, 2007

                       Canterbury Park Holding Corporation
             (Exact name of registrant as specified in its charter)

                                    Minnesota
                 (State or Other Jurisdiction of Incorporation)

            001-31569                                    41-1775532
     (Commission File Number)                (IRS Employer Identification No.)

1100 Canterbury Road,  Shakopee, Minnesota                 55379
 (Address of Principal Executive Offices)                (Zip Code)

                                 (952) 445-7223
              (Registrant's telephone number, including area code)

               --------------------------------------------------

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

|_|  Written communications pursuant to Rule 425 under the Securities Act (17
     CFR 230.425)

|_|  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
     240.14a-12)

|_|  Pre-commencement communications pursuant to Rule 14d-2(b) under the
     Exchange Act (17 CFR 240.14d-2(b))

|_|  Pre-commencement communications pursuant to Rule 13e-4(c) under the
     Exchange Act (17 CFR 240.13e-4(c))




Section 2 - Financial Information
Item 2.02 - Results of Operations and Financial Disclosure

On March 28, 2007, Canterbury Park Holding Corporation (the "Company") issued a
press release regarding its results of operations for the year ended December
31, 2006. A copy of the press release is furnished as Exhibit 99.1 to this Form
8-K.

The information provided pursuant to Item 2.02 of this Form 8-K is being
furnished and is not "filed" for purposes of Section 18 of the Securities Act of
1934, nor may it be deemed incorporated by reference in any filing under the
Securities Act of 1933, except as expressly set forth by specific reference in
such filing.

Section 9 - Financial Statements and Exhibits
Item 9.01 - Financial Statements and Exhibits

(c)  Exhibits

The following are filed or furnished as Exhibits to this Report:

Exhibit No.   Description of Exhibit
- -----------   ----------------------

99.1          Press release dated March 28, 2007, reporting results for the year
              ended December 31, 2006.



                                   SIGNATURES
                                   ----------

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                             CANTERBURY PARK HOLDING CORPORATION

Dated: March 28, 2007                        By: /s/ Randall D. Sampson
                                                 -------------------------------
                                                 Randall D. Sampson
                                                 Chief Executive Officer

EX-99.1

                                                                    Exhibit 99.1

   Canterbury Park Holding Corporation Reports 2006 Fiscal Operating Results

     SHAKOPEE, Minn.--(BUSINESS WIRE)--March 28, 2007--Canterbury Park Holding
Corporation (AMEX:ECP) today announced financial results for the fourth quarter
and year ended December 31, 2006.

     The Company earned net income of $3,125,043 on revenues of $55.8 million
for the year ended December 31, 2006, compared to net income of $3,053,479 on
revenues of $54.9 million for the year ended December 31, 2005. Fully diluted
earnings per share for fiscal 2006 were $.74 compared with $.73 for fiscal 2005.
Further results for 2006 are presented in the accompanying table.

     For the fourth quarter of 2006, the Company posted revenues of $12.6
million, up 4.5% from revenues of $12.0 million during the same period in 2005.
Net income was $1,092,605, or $.26 per diluted share, versus $830,530, or $.20
per diluted share in the fourth quarter of 2005.

     The Company's net revenues in 2006 of $55.8 million were only slightly
greater than 2005 and the increase was the result of growth in Card Club
revenues of 1.9%, offset by a decrease of .5% in pari-mutuel revenues, and a
4.5% increase in other revenues. Operating expenses increased 2.4% to $50.7
million in 2006, primarily due to increases in purse expense, salaries and
benefits and depreciation.

     "While 2006 results were below our internal goals for the year, we are
generally pleased with the financial performance given the continued growth of
illegal Internet wagering, the expansion of poker at tribal casinos, and the
Card Club's 50 table maximum capacity mandated by state law" stated Canterbury
Park's President Randy Sampson. "Despite these challenges, we were able to
produce modest growth in revenues and, combined with a variety of cost cutting
measures initiated late in 2006, post an increase in net income of 2.3% over
2005. In addition, we are particularly pleased to report the 2006 fourth quarter
was our most profitable fourth quarter ever. This strong finish was partially
due to successful promotions in the Card Club funded by our player pool."

     Mr. Sampson continued: "We remain committed to gaining legislative approval
for expanded gaming options at the Racetrack. While recent election results have
made the challenge of passing favorable legislation more difficult, we will
continue to advocate at the State Capitol for a Racino at Canterbury Park, as we
believe it is the best way to provide a major boost to Minnesota's horse
industry. Finally, in 2007 we will give increased attention to potential further
development of our 380-acre site in Shakopee. Our property is located in one of
the fastest growing areas in the region, and we believe development
opportunities exist that will enable us to enhance the character of Canterbury
Park as a unique entertainment complex, grow our revenues, and enhance
shareholder value.

     The Company also announced today that its 2007 Annual Meeting of
Shareholders would be held on Thursday, June 7, 2007 at 4:00 pm, at the
Racetrack in Shakopee, Minnesota. The date of record for shareholders entitled
to vote at the Annual Meeting is Friday, April 13, 2007.

     About Canterbury Park:

     Canterbury Park Holding Corporation owns and operates Canterbury Park
Racetrack, Minnesota's only pari-mutuel horse racing facility. The Company's
68-day 2007 live race meet begins on May 5th and ends September 3, 2007. In
addition, Canterbury Park's Card Club hosts "unbanked" card games 24 hours a
day, seven days a week, offering 34 poker tables and 16 tables of other card
games. The Company also conducts year-round wagering on simulcast horse racing
and hosts a variety of other entertainment and special events at its facility in
Shakopee, Minnesota. For more information about the Company please visit us at
www.canterburypark.com.

     Cautionary Statement:

     From time to time, in reports filed with the Securities and Exchange
Commission, in press releases, and in other communications to shareholders or
the investing public, we may make forward-looking statements concerning possible
or anticipated future financial performance, business activities or plans which
are typically preceded by the words "believes," "expects," "anticipates,"
"intends" or similar expressions. For such forward-looking statements, we claim
the protection of the safe harbor for forward-looking statements contained in
federal securities laws. Shareholders and the investing public should understand
that such forward-looking statements are subject to risks and uncertainties
which could affect our actual results, and cause actual results to differ
materially from those indicated in the forward-looking statements. Such risks
and uncertainties include, but are not limited to: material fluctuations in
attendance at the Racetrack, material changes in the level of wagering by
patrons, decline in interest in the unbanked card games offered at the Card
Club, competition from other venues offering unbanked card games or other forms
of wagering, competition from other sports and entertainment options, costs
associated with our efforts to obtain legislative authority for additional
gaming options, increases in compensation and employee benefit costs; increases
in the percentage of revenues allocated for purse fund payments; higher than
expected expense related to new marketing initiatives; the impact of wagering
products and technologies introduced by competitors; legislative and regulatory
decisions and changes; the general health of the gaming sector; and other
factors that are beyond our ability to control or predict.


                CANTERBURY PARK HOLDING CORPORATION'S
                     SUMMARY OF OPERATING RESULTS

                             (Unaudited)
- ----------------------------------------------------------------------

                 Three Months Three Months Twelve Months Twelve Months
                    Ended        Ended         Ended         Ended
                 December 31, December 31, December 31,  December 31,
                    2006         2005          2006          2005
                 -----------------------------------------------------

Operating
 Revenues        $12,583,842  $12,044,084   $55,839,697   $54,919,617

Operating
 Expenses        $10,748,842  $10,585,961   $50,660,163   $49,473,668

Income from
 Operations       $1,835,000   $1,458,123    $5,179,534    $5,445,949

Non-Operating
 Revenues, net       $70,004      $42,630      $279,208      $119,373

Income Tax
 Expense           ($812,399)   ($670,223)  ($2,333,699)  ($2,511,843)

Net Income        $1,092,605     $830,530    $3,125,043    $3,053,479

Basic Net Income
 Per Common Share      $0.27        $0.21         $0.78         $0.78

Diluted Net
 Income Per
 Common Share          $0.26        $0.20         $0.74         $0.73


     CONTACT: Canterbury Park Holding Corporation
              Randy Sampson, 952-445-7223