FanDuel, operator of wagering and casino gambling platforms, announced it will make a multi-million-dollar investment in Fairmount Park Racetrack in Collinsville, Illinois, which will be rebranded as FanDuel Sportsbook and Horse Racing. The 95-year-old venue will undergo “a full revitalization,” according to FanDuel Group Chief Executive Officer Matt King. He said, “This is the first time we’ve put our brand on the overall track. We’re investing broadly to revitalize the track itself. Fairmount is an iconic state landmark which we plan to modernize, bringing innovative technology and entertainment offerings only FanDuel can deliver.” No dollar amount was given for the renovations.
FanDuel has worked with Fairmount for several years to offer track betting. The new retail sportsbook will take wagers on football, baseball and other non-racetrack sports. Pending Illinois Gaming Board approval, FanDuel Group will transfer its sports betting license from Par-A-Dice Casino in Peoria to the Collinsville venue.
Fairmount Park General Manager Melissa Helton said, “Fairmount Park is excited to extend our partnership with FanDuel Group to now include their sports gaming platform. This partnership will allow the park to remain an important economic driver for the surrounding communities.”
FanDuel Group and its popular horse racetrack wagering and television service TVG also pledged to fund Fairmount Park’s signature event, the $250,000 St. Louis Derby, which has not been run since 2006 due to finances.
The Collinsville track is one of three horseracing venues operating in Illinois and the only one outside the Chicago metro area. Opened in 1925, it features thoroughbred flat racing on a 1-mile dirt oval. The Ogden Corporation owned it for more than 30 years and sold it in 2000 in William Stiritz, then-chairman of Ralston Purina. The track offered racing this year but without fans due to Covid-19.
FanDuel officials said Fairmount Park has been approved to host 53 live racing days in 2021, plus daily simulcast wagering on tracks throughout the U.S. The venue offers simulcast wagering at its four off-track betting facilities in Alton, Carbondale, Springfield and Sauget.
