Note 7 - Cooperative Marketing Agreement	6 Months Ended
Jun. 30, 2022
Notes to Financial Statements
Collaborative Arrangement Disclosure [Text Block]	7. COOPERATIVE MARKETING AGREEMENT As discussed above in Note 6, on March 4, 2012, the Company entered into the CMA with the SMSC. The primary purpose of the CMA is to increase purses paid during live horse racing at Canterbury Park’s Racetrack in order to strengthen Minnesota’s thoroughbred and quarter horse industry. Under the CMA, as amended, this is achieved through “Purse Enhancement Payments to Horsemen” paid directly to the MHBPA. These payments have no direct impact on the Company’s consolidated financial statements or operations. Under the CMA, as amended, SMSC also agreed to make “Marketing Payments” to the Company relating to joint marketing efforts for the mutual benefit of the Company and SMSC, including signage, joint promotions, player benefits, and events. As noted above and affirmed in the Fifth Amendment, SMSC is obligated to make an annual purse enhancement of $7,380,000 and annual marketing payment of $1,620,000 for 2022. The amounts earned from the marketing payments are recorded as a component of other revenue and the related expenses are recorded as a component of advertising and marketing expense and depreciation in the Company’s condensed consolidated statements of operations. For the three and six months ended June 30, 2022, the Company recorded $675,000 and $787,000 in other revenue, incurred $621,000, and $687,000 in advertising and marketing expense, and incurred $54,000 and $100,000 in depreciation related to the SMSC marketing funds. For the three and six months ended June 30, 2021, the Company recorded $366,000 and $413,000 in other revenue, incurred $342,000, and $365,000 in advertising and marketing expense, and incurred $24,000 and $48,000 in depreciation related to the SMSC marketing funds. Under the CMA, the Company agreed for the term of the CMA, which is currently scheduled to terminate on December 31, 2022, that it would not promote or lobby the Minnesota legislature for expanded gambling authority and will support the SMSC’s lobbying efforts against expanding gambling authority.

Note 7 - Cooperative Marketing Agreement

6 Months Ended

Jun. 30, 2022

Collaborative Arrangement Disclosure [Text Block]

7. COOPERATIVE MARKETING AGREEMENT

As discussed above in Note 6, on March 4, 2012, the Company entered into the CMA with the SMSC. The primary purpose of the CMA is to increase purses paid during live horse racing at Canterbury Park’s Racetrack in order to strengthen Minnesota’s thoroughbred and quarter horse industry. Under the CMA, as amended, this is achieved through “Purse Enhancement Payments to Horsemen” paid directly to the MHBPA. These payments have no direct impact on the Company’s consolidated financial statements or operations.

Under the CMA, as amended, SMSC also agreed to make “Marketing Payments” to the Company relating to joint marketing efforts for the mutual benefit of the Company and SMSC, including signage, joint promotions, player benefits, and events.

As noted above and affirmed in the Fifth Amendment, SMSC is obligated to make an annual purse enhancement of $7,380,000 and annual marketing payment of $1,620,000 for 2022.

The amounts earned from the marketing payments are recorded as a component of other revenue and the related expenses are recorded as a component of advertising and marketing expense and depreciation in the Company’s condensed consolidated statements of operations. For the three and six months ended June 30, 2022, the Company recorded $675,000 and $787,000 in other revenue, incurred $621,000, and $687,000 in advertising and marketing expense, and incurred $54,000 and $100,000 in depreciation related to the SMSC marketing funds. For the three and six months ended June 30, 2021, the Company recorded $366,000 and $413,000 in other revenue, incurred $342,000, and $365,000 in advertising and marketing expense, and incurred $24,000 and $48,000 in depreciation related to the SMSC marketing funds.

Under the CMA, the Company agreed for the term of the CMA, which is currently scheduled to terminate on December 31, 2022, that it would not promote or lobby the Minnesota legislature for expanded gambling authority and will support the SMSC’s lobbying efforts against expanding gambling authority.