Churchill Downs Incorporated announced that the Company received approval from the Town of Dumfries to open Phase One of The Rose Gaming Resort (?The Rose?) with 1,650 historical racing machines (?HRMs?). This number represents an increase of 500 HRMs from what CDI had previously announced. The Rose, located in Northern Virginia, is now scheduled to open by the end of September 2024.

The facility will also open with a 102-room hotel, eight food and beverage options and over 2,540 parking spaces. The total capital investment in the project to now expected to be $460 million, with approximately $160 million remaining to be spent as of December 31, 2023. The Company will provide updated development plans for Phase Two at a later date.

As part of company's commitment to the Town of Dumfries, the Company will make a one-time, $3.6 million contribution to the town. The company will also make a one-time $2.0 million contribution to support the design and development of a new community center, in addition to the public park currently being built on site. The Rose is estimated to generate $35.5 million in annual tax revenues and result in the development of more than 500 full and part-time jobs.