Virginia’s historical horse racing slot parlors saw a sharp revenue drop in August as new competition in Petersburg and a calendar shift with fewer weekend days cut into Churchill Downs’ market share
Richmond’s Rosie’s-branded slot parlors suffered a 30.2% revenue plunge in August, the steepest drop among Virginia’s historical horse racing (HHR) venues. The culprit: intensified competition from Live Virginia in Petersburg and a calendar that delivered one less weekend day than the previous year. The impact was immediate and measurable, with Churchill Downs’ flagship locations absorbing the brunt of the downturn.
Revenue Breakdown by Location
Statewide, HHR machines generated $47.9 million in August revenue. On a same-store basis, that marked a 10% decline compared to August 2025. Factoring in the newly opened Roseshire in Henrico County and The Rose Casino in Dumfries, the overall drop narrowed to 5.7%. The Rose led all venues with $15.3 million in gross revenue, up 11.5% year-over-year, while Roseshire posted $2.7 million in its first measured month. Colonial Downs, another Churchill Downs property, saw revenue fall 26.1% to $3.8 million. Rosie’s in Emporia dropped 22.7% to $1.8 million. The Hampton branch slipped 6.2% to $8.7 million, while Rosie’s in Vinton bucked the trend with a 2.8% increase to $5.2 million. Rosie’s in Colinsville edged up 2.9% to $400,000.
Competitive Pressure and Market Shifts
The arrival of Live Virginia in Petersburg has fundamentally altered the competitive landscape for HHR in the state. August marked the eighth consecutive month of direct competition, and the effect was most pronounced in Richmond and surrounding areas. Churchill Downs, which owns all HHR operations in Virginia, has seen its market share erode as players migrate to new venues. The calendar shift—August 2026 lacked the Labor Day weekend and had one fewer weekend day than the prior year—further compressed revenue opportunities, amplifying the impact of new entrants.
Per-Machine Performance and Player Impact
Device-level performance varied sharply across locations. Roseshire posted the highest per-machine average at $503 daily, reflecting strong initial demand. Rosie’s in Emporia, despite a revenue drop, maintained a robust $380 per device. Colonial Downs averaged $327 per machine, while The Rose saw $308 per device. Rosie’s in Hampton and Vinton reported $401 and $354 per machine, respectively. These figures highlight the volatility introduced by both market expansion and shifting player preferences, with newer venues capturing higher per-device returns even as established locations struggle to maintain volume.
Gross gaming revenue (GGR) is the total amount wagered minus player winnings, serving as a key metric for slot and HHR venues. GGR does not represent operator profit, as it excludes taxes, promotional deductions, and operating costs. In Virginia, HHR revenue is closely watched as a barometer of both market health and the impact of new competition. The recent downturn underscores how quickly player behavior can shift in response to new options and even minor calendar changes, making GGR a sensitive indicator of underlying market dynamics.
