Virginia HHR revenue falls 12% on a same-store basis in June
Virginia historical horse racing revenue fell 12% year on year in June on a same-store basis, excluding three newly opened properties, according to the report. J.P. Morgan analysts attributed the decline to competition from the temporary Live! Casino in Petersburg, with Richmond particularly affected. Richmond-area HHR parlours reported $9.7 million, down 25.1%.
The figures show how new casino competition coincided with lower revenue at established Virginia HHR properties.