SHAKOPEE, Minn., Oct. 2, 2020 /PRNewswire/ -- Canterbury Park
Holding Corporation (NASDAQ: CPHC) ("Canterbury Park" or the
"Company") announced today that Mark
Chronister has been elected to the Company's Board of
Directors, effective October 1, 2020.
The election of Mr. Chronister to Canterbury Park's Board of
Directors increases the size of the Board to six members, five of
whom are considered independent directors under NASDAQ rules.
Mr. Chronister will serve on the Board's Audit Committee and is an
"audit committee financial expert", as that term is defined under
the rules of the Securities and Exchange Commission.
Mark Chronister brings forty
years of high level accounting and board leadership experience to
Canterbury Park's Board of Directors. He retired in 2007 as
an audit partner in the Minneapolis office of PricewaterhouseCoopers,
LLP (PwC) after 34 years at the firm. He was Market Managing
Partner of the Twin Cities office
for eight years, including two years as a Cluster Managing Partner
for Coopers & Lybrand, responsible for five Midwestern
offices. During that time, he oversaw the merger of Price
Waterhouse and Coopers & Lybrand in Minneapolis and, at various times, had
responsibility for the office's Assurance practice, Risk Management
Services, the Consumer, Industrial Products and Services industry
practice. He also served as Business Development Partner
focused on developing and deepening relationships with non-audit
service companies. Throughout his career, Mr. Chronister
served a broad range of large, medium and emerging companies
including clients such as the Federal Reserve Bank of Minneapolis, Midland National Life Insurance
Company, Worker's Compensation Reinsurance Association, ELCA Board
of Pensions, Ecolab, Prime Therapeutics, the University of Minnesota, Creighton University, University of St. Thomas, Bethel University, Carleton
College and William Mitchell College of
Law.
Randy Sampson, Executive Chairman
of the Board, President, and Chief Executive Officer of Canterbury
Park, commented on Mr. Chronister's appointment, "We are delighted
to welcome Mark Chronister to
Canterbury Park. His financial expertise and exemplary record of
board service make him an ideal addition to the Company's Board of
Directors. In addition, Mark's track record of board
governance expertise highlights our ongoing commitment to this
important discipline. We look forward to benefitting from his
counsel and deep understanding of the Minneapolis/St. Paul business community as we
grow our business by executing on initiatives that will help us
regain the pre-pandemic momentum we were generating in our Card
Casino and pari-mutuel operations, while we also continue our
efforts to unlock shareholder value through the monetization of the
excess acreage around Canterbury Park for the development of
Canterbury Commons."
Mr. Chronister has also been frequently selected as board chair
by organizations focused on achieving high levels of corporate
governance. He has served as board chair for the University of Nebraska Foundation (UNF), the
Alzheimer's Association – Minnesota/North
Dakota, St. Catherine University (the largest women's
university in North America),
Prodeo Academy (a charter school), The Minneapolis Foundation, the
Academy of Holy Angels High School, the Minneapolis Downtown
Council, Junior Achievement of the Upper Midwest, St. Bonaventure
Catholic Church Parish Council and in various board capacities for
KIPP Minnesota/Stand Academy (a
charter school), the Minnesota Business Partnership, the
Minnesota Chamber of Commerce and
the Minnesota Private College Council. In 2018, he was
inducted into the University of
Nebraska – Lincoln (UNL)
School of Accountancy Hall of Fame. He graduated with a BS in
Accounting from the University of
Nebraska – Lincoln.
For Mr. Chronister's headshot, use this link:
https://canterburypark.egnyte.com/dl/F8Xhc2urUp
About Canterbury Park
Canterbury Park Holding
Corporation (Nasdaq: CPHC) owns and operates Canterbury Park
Racetrack and Card Casino in Shakopee,
Minnesota, the only thoroughbred and quarter horse racing
facility in the State. The Company generally offers live racing
from May to September. The Card Casino hosts card games 24 hours a
day, seven days a week, dealing both poker and table games. The
Company also conducts year-round wagering on simulcast horse racing
and hosts a variety of other entertainment and special events at
its Shakopee facility. The
Company is redeveloping 140 acres of underutilized land surrounding
the Racetrack in a project known as Canterbury
Commons™. The Company is pursuing several mixed-use
development opportunities for this land, directly and through joint
ventures. For more information about the Company, please visit
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. These statements are typically preceded by the
words "believes," "expects," "anticipates," "intends" or similar
expressions. For these 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 these 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.
We report these risks and uncertainties in our most recent Annual
report on Form 10-K Report to the SEC, as well as our subsequently
filed Quarterly Reports on Form 10-Q. They include, but are not
limited to: any effect that the COVID-19 coronavirus pandemic and
resulting precautionary measures may have on us as an entertainment
venue or on the economy generally, including the fact that we
temporarily suspended all card casino, simulcast, and special
events operations at Canterbury Park from March 16, 2020 through June 9, 2020, that since June 9, 2020 we have been open and operating on a
much more limited basis to comply with state law and health
protocols, and that we expect to operate a 53-day live race meet in
2020; material fluctuations in attendance at the Racetrack;
material changes in the level of wagering by patrons; any decline
in interest in the unbanked card games offered in the Card Casino;
competition from other venues offering unbanked card games or other
forms of wagering; competition from other sports and entertainment
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; the general health of the gaming sector;
legislative and regulatory decisions and changes; our ability to
successfully develop our real estate, including our reliance on our
current and future development partners; temporary disruptions or
changes in access to our facilities caused by ongoing
infrastructure improvements; and other factors that are beyond our
ability to control or predict.
Investor
Contacts:
|
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Randy
Dehmer
|
Richard Land, Jim
Leahy
|
Vice President and
Chief Financial Officer
|
JCIR
|
Canterbury Park
Holding Corporation
|
212-835-8500 or
cphc@jcir.com
|
952-233-4828 or
investorrelations@canterburypark.com
|
|
|
|
Media
Contact:
|
|
Jeff
Maday
|
|
Media Relations
Manager
|
|
Canterbury Park
Holding Corporation
|
|
952-292-7524 or
jmaday@canterburypark.com
|
|
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SOURCE Canterbury Park Holding Corporation