The FanDuel Group has detailed plans to make a multi-million dollar investment into Collinsville, Illinois’ Fairmount Park Racetrack, which will subsequently be rebranded to become FanDuel Sportsbook and Horse Racing.
Furthermore the company also boasts plans for full revitalisation of the facility, including the opening of a FanDuel Sportsbook retail location.
This partnership is consistent with FanDuel Group’s history in the sport of horse racing via its subsidiary TVG, an online ADW platform and sports-oriented digital cable and satellite television network. This agreement also signifies FanDuel Group’s first investment in a race track.
FanDuel, which is currently available in the Prairie State, will apply to the Illinois Gaming Board to transfer its sports betting licence from the Par-A-Dice Casino to FanDuel Sportsbook and Horse Racing. The FanDuel Sportsbook is available in a total of eleven states via retail and online experiences.
“We are delighted to partner with Fairmount Park to continue bringing high quality horse racing and soon additional entertainment experiences via our sportsbook to the region,” said Matt King, CEO of FanDuel Group.
“Fairmount is an iconic state landmark which we plan to modernise bringing innovative technology and entertainment offerings only FanDuel can deliver.”
FanDuel Group will work with William Stiritz and Associates to revitalise the 95-year-old track, which will include significant upgrades to the facility and the establishment of the retail sportsbook location pending continued licensing and regulatory approvals from the state regulator.
FanDuel Group and TVG will also fund the renewal and running of the $250,000 St Louis Derby, the track’s signature event, which has not been conducted since 2006 due to financial constraints.
The capital improvements, including the addition of a retail sportsbook and the new horse racing events, are part of a modernisation plan that it is hoped will serve as a driver of economic growth for the region, providing new jobs in the entertainment and hospitality sector.
“Fairmount Park is excited to extend our partnership with FanDuel Group to now include their sports gaming platform,” said Melissa Helton, general manager of Fairmount Park. “This partnership will allow the park to remain an important economic driver for the surrounding communities.”