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Virginia HHR revenue jumps in August

Steve Tyler Free Content

Virginia HHR revenue jumps in August

Summary

J.P. Morgan analyst Daniel Politzer reports Virginia historical horse racing (HHR) revenue rose notably in August. Same-store HHR winnings increased about 10% year‑on‑year, while figures that include Churchill Downs’s new The Rose and the recently closed Little Rose show a 36% jump versus August 2024. Overall statewide HHR gross for August was roughly $51 million, averaging $347 per machine per day.

Key Points

  • Same-store HHR winnings in Virginia were up about 10% in August (J.P. Morgan).
  • Including The Rose and Little Rose, August HHR revenue jumped 36% year‑on‑year.
  • The Rose grossed $13.8m in August — $269 per machine per day, above the Q3 average of $256/device/day.
  • Little Rose generated about $600k in 20 days before closing; it had 140 HHR devices.
  • Virginia HHR is effectively an all‑Churchill Downs market; Q3 win‑per‑day tracked just under $1.6m, matching Politzer’s estimate.
  • Churchill Downs expanded Richmond‑area HHR from 939 to 1,086 devices, with a plan to reach about 1,200 by end‑2025.
  • Richmond slot parlours grossed $14.3m in August — $428 per machine per day, down from July’s $476 but up 21% year‑on‑year.
  • Property performances: Colonial Downs $5.2m (-0.8%), Rosie’s Hampton $9.3m (+6.3%), Rosie’s Emporia $2.3m (+16.4%), various Rosie’s Richmond $14.4m (+21.3%).
  • Device counts noted: Colonial Downs 486, Rosie’s Hampton 700, Emporia 150, Vinton 472, The Rose 1,650, Colinsville 37.

Context and relevance

This is primarily a market and investor update: the numbers matter to regional operators, investors tracking Churchill Downs’ expansion strategy, and analysts watching machine reallocation between properties to lift yields. The growth shows that new or consolidated capacity (The Rose) and strategic device shifts in Richmond are driving stronger statewide performance despite some month‑to‑month variance.

Why should I read this?

Short version — if you follow regional gaming, Churchill Downs moves or HHR economics, this is worth five minutes. The piece explains where the revenue bump came from (new flagship site plus device shuffles) and gives concrete per‑machine metrics that show whether expansion is actually paying off. It’s a handy snapshot for anyone who wants the numbers without wading through the full investor note.

Source

Source: https://cdcgaming.com/virginia-hhr-revenue-jumps-in-august/