According to J.P. Morgan, Virginia historical racing machines (HHR) saw a 10 percent spike in winnings in August. The findings were part of a September 15 investor note by analyst Daniel Politzer.
The same-store numbers excluded Churchill Downs’s new The Rose and its phased-out Little Rose, which closed on August 20t. Both properties are near Dumfries. When they were included, HHR revenue shot up 36 percent from August 2024.
Virginia HHR are an all-Churchill Downs market, Politzer noted, with win per day for the third quarter tracking just under $1.6 million. That was in line with Politzer’s estimate.
The Rose enjoyed its best month to date, grossing $13.8 million, representing $269 per machine per day, up from a third-quarter average of $256 per device per day. Politzer had projected $36 million in quarterly gambling revenue or $240 per machine per day.
Little Rose garnered a scant $600,000 in 20 days before ceasing operations last month. The slot parlor had 140 HHR. Politzer thought it reasonable to assume that much of the Dumfries business for Little Rose would migrate to The Rose in Prince William.
Churchill Downs has also been beefing up its HHR counts in the Richmond area, having been approved to do so by the Virginia Racing Commission. That brought its inventory from 939 Richmond-area devices to 1,086. Politzer reported that the number would increase to 1,200 by the end of 2025, as machines from lower-yield properties are shifted to better-performing locations.
Richmond slot parlors saw an August gross of $14.3 million. That equated to $428 per machine per day, a sequential slump from July’s $476 per day. However, it was also a 21 percent year-over-year leap.
At Colonial Downs, Churchill Downs grossed $5.2 million (down 0.8 percent), at Rosie’s Hampton $9.3 million, a 6.3 percent improvement. Rosie’s Emporia jumped 16.4 percent, to $2.3 million, while various Rosie’s Richmond locations leapt 21.3 percent to $14.4 million.
Rosie’s Vinton rose but 0.3 percent to $5 million and Rosie’s Colinsville slipped 2.8 percent to $400,000. As of August, Churchill Downs had 486 HHR at Colonial Downs and 700 at Rosie’s Hampton. Another 150 devices were at Emporia and 472 at Vinton. The Rose was Churchill Downs’s largest-capacity property, alone holding 1,650 gambling devices, while its Colinsville parlor had just 37 machines.
The total statewide gross was $51 million, for an average of $347 per machine per day.
