Churchill Downs buys the parent company of the gaming resort The Rose

Churchill Downs, where the Kentucky Derby is located, has acquired the rights to the Colonial Downs racetrack and game stores along with the rights to develop The Rose resort in Dumfries.

This article was written by WTOP news partner InsideNoVa.com and reissued with permission. Subscribe to Free subscription via InsideNoVa.com email today.

Churchill Downs, where the Kentucky Derby is located, has acquired the rights to the Colonial Downs racetrack and game stores along with the rights to develop The Rose resort in Dumfries.

Virginia properties are part of a nearly $ 2.5 billion deal between Churchill Downs Inc. and Peninsula Pacific Entertainment LLC, the parent company of Colonial Downs. The deal also includes real estate in New York and Iowa.

In Virginia, CDI will acquire the Colonial Downs racetrack in New Kent and Rosie’s gaming halls in Dumfries, Collinsville, Hampton, New Kent, Richmond and Vintan.

The deal includes the right to build The Rose, a gaming resort in Dumfries worth nearly $ 400 million, which is scheduled to open in 2023. The resort will include a 50,000-square-foot play area, a 250-seat sports bar, eight other bars and restaurants, a 7,000-square-foot event area, 200 hotel rooms and a 1,500-seat theater.

Under state law, CDI will also be able to design up to five additional historic racing entertainment venues, such as Rosie’s stores in Virginia.

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