Tax Revenues, Jobs & Player Activity All Exceed Expectations
Colonial Downs Group announced today its first six months of financial results since beginning operations on April 18, 2019 in New Kent County. The results also include operations in Vinton, which opened on May 6, 2019 and four months of results in Richmond, which opened on June 29, 2019. Colonial Downs Group is generating additional tax revenues and jobs with the opening of its fourth Rosie’s Gaming Emporium in Hampton last week on October 29, 2019.
To date Colonial Downs Group has generated the following:
Over 1,000 jobs in New Kent, Vinton, Richmond and Hampton
$5,911,366 in tax revenue to the Commonwealth of Virginia
$2,730,165 in tax revenue to New Kent County$301,641 in tax revenue to the Town of Vinton
$738,369 in tax revenue to the City of Richmond
Handle (amounts played) of $729,192,184 (HHR) & $24,374,840 Pari-mutuel
Total prizes to players of $674,103,572 (HHR) & $17,585,518 Pari-mutuel
Annual payroll of $36.2 Million
Aaron Gomes, chief operating officer of Colonial Downs Group, stated, “We promised to deliver good jobs and generate significant tax revenues across the Commonwealth by bringing together gaming enthusiasts, and the community to experience an exciting and fun new activity at Rosie’s Gaming Emporiums and through the return of thoroughbred horse racing at Colonial Downs racetrack. We are extremely grateful to our patrons who have embraced what we are offering and helped us keep our commitment. The results are exceeding expectations and we look forward to continued growth, opportunity and economic development.”
Colonial Downs Group presently operates 2,150 Horse Racing Machines (HHRs), and owns and operates seven off-track betting locations. Thirty-six thousand spectators attended the live racing events at Colonial Downs racetrack in New Kent County and more than fifteen million viewers across the nation watched and bet on the races through the TVG network in 2019.