FanDuel Group has announced plans to make a multi-million-dollar investment in Fairmount Park Racetrack in Collinsville, Illinois. Under the terms of the agreement, the facility will be rebranded as FanDuel Sportsbook and Horse Racing, and the company plans a full revitalization of the venue including the opening of a FanDuel Sportsbook retail location.
This partnership is consistent with FanDuel’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 the group’s first investment in a race track.
Matt King, CEO of FanDuel Group, said: “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.”
FanDuel 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.
The group and TVG have also announced 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.
Melissa Helton, General Manager of Fairmount Park, added: “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.”
The capital improvements, addition of a retail sportsbook and the new horse racing events are part of a modernization plan that will serve as a driver of economic growth for the region providing new jobs in the entertainment and hospitality sector. Fairmount has long been a prominent beacon of diversity hiring and FanDuel’s investment will fully align and accelerate the track’s proud history as a bedrock in the community.
FanDuel is no stranger to investing in the sport of horse racing. The group is a major sponsor of marquee horse racing events including the Breeders’ Cup World Championships, the TVG Pacific Classic, the TVG.com Haskell Invitational and major races at Keeneland Racecourse in Lexington, KY.
It has invested heavily in TVG.com and especially the TVG network’s broadcasts of live horse racing events, and it is also a major supporter of charities that impact the horse racing community including the Thoroughbred Aftercare Alliance and the Permanently Disabled Jockeys Fund.
FanDuel Sportsbook mobile and online sports betting is currently available in Illinois and shortly, its sports betting license will be transferred from Par-A-Dice Casino to FanDuel Sportsbook and Horse Racing, pending approval from the Illinois Gaming Board.