The Rose Casino Hotel in Dumfries, Virginia, owned by Churchill Downs has actually been up and running for 2 months now, although it has actually not opened to the basic public.
Regardless, a current report by Stifel expert Jeffrey Stantial recommends that Churchill Downs is a “purchase” ranking with its stock cost target set at $164 in the analysis.
Stantial is basing this evaluation on the most recent place’s trajectory, which has actually been drawing gamers from Manassas, Woodbridge, and Fredericksburg and which is just anticipated to get from here on in. The Rose Casino Hotel is likewise seeing tramp from Washington, DC and has actually been competing for market show MGM’s National Harbor.
Residence in both Kentucky and Virginia are hailed by the expert as possible motorists of development. Stantial is especially positive about the Rose place, as he thinks that it can top Churchill Downs profits originated from historic racing makers throughout the state, and even pins the possible income worth of the place– putting the gross video gaming income at anything in between $15 million and $20 million.
Churchill Downs is not leaving things to possibility either, as Stantial has actually likewise observed a directed marketing project looking for to promote the home and drive more gamers to it, using different media, such as socials, radio, online advertisements, signboards, TELEVISION, and more.
Competitors No Reason to Fear for Rose’s Performance
The expert understands that there are more homes can be found in which competitors is heightening, however in Stantial’s view, the Rose home has particular geographical benefits that assist it stick out and be more resistant to brand-new gamers signing up with the marketplace.
The only rewarding rival is MGM’s National Harbor, however the home is just restricted to Washington, DC for the many part, indicating that the Rose should have the ability to surpass it.
