FanDuel Group announced that they are making plans to invest in a multimillion-dollar rebranding of the Fairmount Park Racetrack in Collinsville, Illinois.
Under the agreement, Fairmount Park Racetrack will be rebranded as FanDuel Sportsbook and Horse Racing. The online gaming company will completely revitalize the venue and open a FanDuel Sportsbook retail location.
This agreement will be the first investment in a racetrack for FanDuel, but the company does have a history in horse racing via its subsidiary TVG in addition to an online ADW platform and sports-oriented digital cable and satellite television network.
FanDuel Group is working with William Stiritz and Associates to revitalize the 95-year-old track. Significant upgrades will be made to the facility in addition to the sportsbook. Licensing and regulatory approvals are pending from the Illinois Gaming Board.
FanDuel Group and TVG are also funding the renewal of the $250,000 St. Louis Derby. The race has not been run since 2006 due to financial constraints.
"We are delighted to partner with Fairmount Park to continue bringing high-qualityhigh quality horse racing and soon additional entertainment experiences via our sportsbook to the region," said Matt King, Chief Executive Officer of FanDuel Group. "Fairmount is an iconic state landmark which we plan to modernize bringing innovative technology and entertainment offerings only FanDuel can deliver."
"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. "The partnership will allow the park to remain an important economic driver for the surrounding communities."
Fairmount Park is located just east of St. Louis and is one of three horse racing venues currently active in Illinois and the only one outside of the Chicago metro area. The track opened in 1925 with a one-mile dirt oval. The track has been approved to host 53 live racing days in 2021 along with daily simulcast wagering on tracks across the country.
FanDuel Sportsbook mobile and online betting experience is currently available in Illinois. In the near future, their betting license will be transferred from Par-A-Dice Casino to FanDuel Sportsbook and Horse Racing, pending approval from the Illinois Gaming Board.