Expansion of Rosie’s Richmond, opening of Roseshire Gaming and Casino Salem purchase drive increase
Churchill Downs generated record third quarter net revenue of $683m, up $54.5m or nine per cent with increases in Virginia, Kentucky and a new venue in New Hampshire.
The operator benefited from a $30.1m increase from itsVirginia HRM venues, a $20.9m increase from its Kentucky HRM venues, and a $2.3m increase primarily from its temporary facility at Casino Salem in New Hampshire. The Virginia HRM increase was due to a $26m net increase from its Northern Virginia venues and a $5.1m net increase from its Central Virginia venues. These increases were offset by a $1m net decrease from its four other Virginia venues.
The operator said: “The Kentucky HRM increase was due to a $12.2m increase from our Western Kentucky venues, a $3.5m increase from our Louisville venues, a $3m increase from our Northern Kentucky venues, and a $2.2m increase from our Southwestern Kentucky venue.”
It’s been a busy summer for the operator, signing a deal with NBC Sports to showcase the Kentucky Oaks on primetime for the first time ever in 2026 and completing the expansion of Rosie’s Richmond in Richmond, Virginia with 450 incremental historical racing machines.
It also bought 90 per cent of Casino Salem for $180m and began to operate the temporary mini casino at the Mall at Rockingham Park in Salem, New Hampshire as well as opening Roseshire Gaming Parlor in Henrico County, Virginia with 175 historical racing machines.
It has also just announced a growth project called Victory Run, an exciting new structure on the first turn of the Churchill Downs Racetrack between the First Turn Club and the Skye Terrace. Victory Run will replace uncovered, ground-level box seats and dated dining areas with a new premium hospitality and seating offering.
This new four-story structure features a variety of premium hospitality experiences with tremendous views of the finish line of the racetrack, and will include private suites, indoor and outdoor dining, and covered box seating. The project will replace approximately 6,400 existing seats with premium seating for approximately 7,800 guests.
Pending incentives that must be approved first by the City of Louisville and then by the appropriate state agencies, including the Kentucky Cabinet for Economic Development, CDI anticipates construction of Victory Run will begin following the 2026 Kentucky Derby and will be completed by the 2028 Kentucky Derby. CDI plans to offer an interim upgraded seating experience in this area with temporary seating and enhanced amenities for the 2027 Kentucky Derby. CDI plans to spend $280-$300 million on the project.
“We are excited to unveil the Victory Run project for Churchill Downs Racetrack,” said Bill Carstanjen, Chief Executive Officer of CDI. “This project will create a greatly improved experience for our guests in an important section of our racetrack while delivering long-term growth and value for our shareholders.”
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Expansion of Rosie’s Richmond, opening of Roseshire Gaming and Casino Salem purchase drive increase Churchill Downs generated record third quarter net revenue of $683m, up $54.5m or nine per cent with increases in Virginia, Kentucky and a new venue in New Hampshire. The operator benefited from a $30.1m increase from itsVirginia HRM venues, a $20.9m…
The post New venues help Churchill Downs to its best ever quarter appeared first on G3 Newswire.