FanDuel Invests into Fairmount Park Racetrack
U.S. sports betting company FanDuel Group, part of Flutter Entertainment, on Monday revealed intentions to invest multimillion dollars in Fairmount Park Racetrack in Collinsville, Illinois. The venue will undergo a $250,000 St. Louis Derby rebranding and overall revitalization, anticipating the return of its flagship event.
FanDuel Horse Racing And Sportsbook
Under the terms of the race track deal, Fairmount Park would be rebranded as FanDuel Sportsbook and Horse Racing, and a FanDuel Sportsbook retail location will be developed by the sports betting operator. The agreement means a diversification of the industry's exposure to FanDuel, since it is the first one with a race track.
Fairmount Park is one of three horse racing venues in illinois based in Collinsville, and the other one outside the Chicago metro area. The race track that provides thoroughbred flat racing was permitted to host 53 live racing days next year, as well as wagering on tracks elsewhere on a daily simulcast.
“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. Fairmount is an iconic state landmark which we plan to modernize bringing innovative technology and entertainment offerings only FanDuel can deliver.”
Matt King, CEO, FanDuel Group
The relationship can also be seen as an continuation of the operator's long tradition of horse racing through TVG, an international sports-oriented cable and satellite TV network that streams 60,000 races from over 150 tracks worldwide.
FanDuel is also a major sponsor of prestigious horse racing activities, including Breeders’ Cup World Championships, TVG Pacific Classic and others, as well as a member of charities that affect the horse racing environment.
“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.”
Melissa Helton, General Manager, Fairmount Park
FanDuel To Rebond Iconic Track
The landmark 95-year-old race track will undergo major renovations including the development of the current FanDuel Sportsbook retail venue, pending licensing and regulatory approvals from the Illinois Gaming Board (IGB) state regulator.
Financial details of the transaction have not been revealed but Fairmount Park's expansion strategy is expected to generate new employment in the gaming and hospitality industry and have an positive effect on other sectors in the region.
FanDuel now operates in illinois under a joint arrangement with Boyd Gaming and its Par-A-Dice Casino but the company plans to move the license to FanDuel Sportsbook and Horse Racing awaiting regulatory approval.
FanDuel is the second major operator of sports books to introduce sports betting on a horse race track in illinois since PointsBet went live with the Hawthorne Race Course in September.
