Churchill Downs Incorporated Opens The Rose Gaming Resort in Northern Virginia
Churchill Downs Incorporated (CHDN) announced the grand opening of The Rose Gaming Resort in Dumfries, Virginia, representing a $460 million investment. The 175,000-square-foot entertainment venue features 1,650 historical racing machines, 8 bars and restaurants, and a hotel with over 100 rooms. The development has created approximately 500 permanent jobs and will support Virginia's Thoroughbred horse racing industry, adding 16 racing days to Colonial Downs Racetrack's 2025 season. The company has committed $2 million for a new community center design and contributed $400,000 to local nonprofits since 2021.
Churchill Downs Incorporated (CHDN) ha annunciato l'apertura ufficiale del Rose Gaming Resort a Dumfries, Virginia, che rappresenta un investimento di 460 milioni di dollari. Il locale di intrattenimento di 175.000 piedi quadrati presenta 1.650 macchine per corse storiche, 8 bar e ristoranti e un hotel con oltre 100 camere. Lo sviluppo ha creato circa 500 posti di lavoro permanenti e supporterà l'industria delle corse di cavalli purosangue della Virginia, aggiungendo 16 giornate di corse alla stagione 2025 del Colonial Downs Racetrack. L'azienda ha impegnato 2 milioni di dollari per il design di un nuovo centro comunitario e ha contribuito con 400.000 dollari a organizzazioni nonprofit locali dal 2021.
Churchill Downs Incorporated (CHDN) anunció la gran apertura del Rose Gaming Resort en Dumfries, Virginia, lo que representa una inversión de 460 millones de dólares. El lugar de entretenimiento de 175.000 pies cuadrados cuenta con 1.650 máquinas de carreras históricas, 8 bares y restaurantes, y un hotel con más de 100 habitaciones. El desarrollo ha creado aproximadamente 500 empleos permanentes y apoyará la industria de carreras de caballos pura sangre de Virginia, añadiendo 16 días de carreras a la temporada 2025 de Colonial Downs Racetrack. La empresa se ha comprometido a invertir 2 millones de dólares en el diseño de un nuevo centro comunitario y ha contribuido con 400.000 dólares a organizaciones sin fines de lucro locales desde 2021.
처칠 다운스 통합(Churchill Downs Incorporated, CHDN)는 버지니아주 더럼프레스에 로즈 게이밍 리조트(The Rose Gaming Resort)의 성대한 개장을 발표했으며, 이는 4억 6천만 달러의 투자를 나타냅니다. 17만 5천 평방피트 규모의 이 엔터테인먼트 공간은 1,650대의 역사적 경마 기계, 8개의 바 및 레스토랑, 100개 이상의 객실을 갖춘 호텔이 포함되어 있습니다. 이 개발은 약 500개의 영구적인 일자리를 창출하였으며, 버지니아의 순혈 경마 산업을 지원하며, 2025 시즌 동안 컬로니얼 다운스 경마장에 16일의 경마 일수를 추가합니다. 회사는 새로운 커뮤니티 센터 디자인에 200만 달러를 약속하고, 2021년 이후 지역 비영리단체에 40만 달러를 기부했습니다.
Churchill Downs Incorporated (CHDN) a annoncé l'ouverture officielle du Rose Gaming Resort à Dumfries, en Virginie, représentant un investissement de 460 millions de dollars. Le site de divertissement de 175 000 pieds carrés dispose de 1 650 machines de course historiques, de 8 bars et restaurants, ainsi que d'un hôtel de plus de 100 chambres. Ce développement a créé environ 500 emplois permanents et soutiendra l'industrie des courses de chevaux pur-sang en Virginie, ajoutant 16 jours de courses à la saison 2025 du Colonial Downs Racetrack. L'entreprise s'est engagée à investir 2 millions de dollars dans la conception d'un nouveau centre communautaire et a contribué à hauteur de 400 000 dollars à des organisations à but non lucratif locales depuis 2021.
Churchill Downs Incorporated (CHDN) hat die große Eröffnung des Rose Gaming Resorts in Dumfries, Virginia, bekannt gegeben, was eine Investition von 460 Millionen Dollar darstellt. Die 175.000 Quadratfuß große Unterhaltungsstätte verfügt über 1.650 historische Rennmaschinen, 8 Bars und Restaurants sowie ein Hotel mit über 100 Zimmern. Die Entwicklung hat etwa 500 dauerhafte Arbeitsplätze geschaffen und wird die Vollblut-Rennsportindustrie Virginias unterstützen, indem sie der Colonial Downs Rennbahn 2025 16 Renntage hinzufügt. Das Unternehmen hat 2 Millionen Dollar für die Planung eines neuen Gemeindezentrums zugesagt und seit 2021 400.000 Dollar an lokale gemeinnützige Organisationen gespendet.
- $460 million strategic expansion into Northern Virginia market
- Creation of 500 permanent jobs
- Addition of 1,650 historical racing machines generating new revenue stream
- Expansion of racing calendar at Colonial Downs by 16 days in 2025
- Diversification of revenue through 8 bars/restaurants and 100+ room hotel
- None.
Insights
The opening of The Rose Gaming Resort marks a significant strategic expansion for Churchill Downs, representing a
The project's scale and location in Northern Virginia positions CDI to capture market share in a populous, high-income region. The addition of 500 permanent jobs and commitment to community development through the
The Rose Gaming Resort's opening strengthens CDI's position in the historical racing machine (HRM) market, a rapidly growing segment in the gaming industry. With 1,650 HRMs, this facility significantly expands CDI's gaming footprint and positions them to benefit from Virginia's favorable gaming regulations. The integrated resort model, combining gaming with hospitality and dining, typically generates higher per-visitor revenue and longer guest stays compared to standalone gaming facilities.
The location in Dumfries, with proximity to Washington D.C.'s affluent metropolitan area, suggests strong potential for sustained patronage. The extensive parking and greenspace development indicates capacity for future expansion and events, providing additional revenue growth opportunities.
LOUISVILLE, Ky., Nov. 07, 2024 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (“CDI” or “the Company”) (Nasdaq: CHDN) announced today the grand opening of The Rose Gaming Resort (“The Rose”) in Dumfries, Virginia. The worldclass entertainment resort includes 1,650 historical racing machines (“HRMs”), 8 bars and restaurants and a hotel with over 100 rooms and event space. The 175,000-square-foot entertainment venue has 2,500 parking spaces and 62 acres of greenspace with a 7-acre public park.
“Churchill Downs Incorporated is thrilled to deliver a destination resort that will be a major economic contributor to the Town of Dumfries and Northern Virginia,” said Bill Carstanjen, CEO of CDI. “Along with our local hiring commitments and strong family-supporting wages, we are committed to continued investment in Prince William County as we are proud to do for all of the communities in which we operate in Virginia.”
CDI invested
As part of a community partnership, the Company has committed
About Churchill Downs Incorporated
Churchill Downs Incorporated (“CDI”) (Nasdaq: CHDN) has been creating extraordinary entertainment experiences for over 150 years, beginning with the company’s most iconic and enduring asset, the Kentucky Derby. Headquartered in Louisville, Kentucky, CDI has expanded through the development of live and historical racing entertainment venues, the growth of the TwinSpires horse racing online wagering business and the operation and development of regional casino gaming properties. www.churchilldownsincorporated.com
This news release contains various “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are typically identified by the use of terms such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “predict,” “project,” “seek,” “should,” “will,” “scheduled,” and similar words or similar expressions (or negative versions of such words or expressions), although some forward-looking statements are expressed differently.
Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Important factors, that could cause actual results to differ materially from expectations include the following: the occurrence of extraordinary events, such as terrorist attacks, public health threats, civil unrest, and inclement weather, including as a result of climate change; the effect of economic conditions on our consumers' confidence and discretionary spending or our access to credit, including the impact of inflation; additional or increased taxes and fees; the impact of any pandemics, epidemics, or outbreaks of infectious diseases, and related economic matters on our results of operations, financial conditions and prospects; lack of confidence in the integrity of our core businesses or any deterioration in our reputation; loss of key or highly skilled personnel, as well as general disruptions in the general labor market; the impact of significant competition, and the expectation that competition levels will increase; changes in consumer preferences, attendance, wagering, and sponsorships; risks associated with equity investments, strategic alliances and other third-party agreements; inability to respond to rapid technological changes in a timely manner; concentration and evolution of slot machine and historical racing machine (HRM) manufacturing and other technology conditions that could impose additional costs; failure to enter into or maintain agreements with industry constituents, including horsemen and other racetracks; inability to successfully focus on market access and retail operations for our TwinSpires sports betting business and effectively compete; online security risk, including cyber-security breaches, or loss or misuse of our stored information as a result of a breach including customers’ personal information could lead to government enforcement actions or other litigation; reliance on our technology services and catastrophic events and system failures disrupting our operations; inability to identify, complete, or fully realize the benefits of our proposed acquisitions, divestitures, development of new venues or the expansion of existing facilities on time, on budget, or as planned; difficulty in integrating recent or future acquisitions into our operations; cost overruns and other uncertainties associated with the development of new venues and the expansion of existing facilities; general risks related to real estate ownership and significant expenditures, including risks related to environmental liabilities; personal injury litigation related to injuries occurring at our racetracks; compliance with the Foreign Corrupt Practices Act or other similar laws and regulations, or applicable anti-money laundering regulations; payment-related risks, such as risk associated with fraudulent credit card or debit card use; work stoppages and labor problems; risks related to pending or future legal proceedings and other actions; highly regulated operations and changes in the regulatory environment could adversely affect our business; restrictions in our debt facilities limiting our flexibility to operate our business; failure to comply with the financial ratios and other covenants in our debt facilities and other indebtedness; increases to interest rates (due to inflation or otherwise), disruption in the credit markets or changes to our credit ratings may adversely affect our business; increase in our insurance costs, or inability to obtain similar insurance coverage in the future, and any inability to recover under our insurance policies for damages sustained at our properties in the event of inclement weather and casualty events; and other factors described under the heading “Risk Factors” in our most recent Annual Report on Form 10-K and in other filings we make with the Securities and Exchange Commission.
We do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
| Investor Contact: Sam Ullrich | Media Contact: Tonya Abeln |
| (502) 638-3906 | (502) 386-1742 |
| Sam.Ullrich@kyderby.com | Tonya.Abeln@kyderby.com |
FAQ
What is the total investment in The Rose Gaming Resort by Churchill Downs (CHDN)?
How many historical racing machines does The Rose Gaming Resort (CHDN) feature?
How many permanent jobs has The Rose Gaming Resort (CHDN) created?
How will The Rose Gaming Resort impact Colonial Downs' 2025 racing season?
