FanDuel Group has announced plans to make a multimillion dollar investment in Fairmount Park Racetrack in Collinsville, IL. Under the terms of the agreement, Fairmount Park Racetrack will be rebranded as FanDuel Sportsbook and Horse Racing. In addition, the company plans a full revitalization of the venue including the opening of a FanDuel Sportsbook retail location. The agreement signifies FanDuel Group's first investment in a race track.
FanDuel Group will work with William Stiritz and Associates to revitalize the 95-year-old track including significant upgrades to the facility and the establishment of a FanDuel Sportsbook retail location pending continued licensing and regulatory approvals from the Illinois Gaming Board. FanDuel Group and TVG have also announced that the company will 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.
“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, 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. “This partnership will allow the park to remain an important economic driver for the surrounding communities.”
Fairmount Park Racetrack 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 and offers thoroughbred flat racing on a one-mile dirt oval. Fairmount Park has been approved to host 53 live racing days in 2021 along with daily simulcast wagering on tracks throughout the country.