FanDuel Group has announced plans to make a multi-million-dollar investment in the Collinsville, Illinois, Fairmount Park Racetrack. The facility will be rebranded as FanDuel Sportsbook and Horse Racing under the terms of the deal, and the company expects a complete revitalization of the site, including the opening of a retail store for FanDuel Sportsbook.
Via its affiliate TVG, the online ADW portal and the sports-oriented digital cable and satellite television network, this relationship is in line with the tradition of FanDuel in horse racing. This contract also signifies the first investment in a race track by the company.
Matt King, FanDuel Group’s CEO, 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.”
Pending continued licencing and regulatory approvals from the Illinois Gaming Board, FanDuel will work with William Stiritz and Associates to revitalise the 95-year-old track, including major renovations to the facility and the establishment of a FanDuel Sportsbook retail location.
The group and TVG have announced that the organisation would finance the renewal and operation of the $250,000 St. Louis Derby, the flagship event of the track, which has not been carried out because of financial constraints since 2006.
Melissa Helton, Fairmount Park General Manager, 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 upgrades, the addition of a retail sportsbook and the latest horse racing activities are part of a development strategy that will provide the area with new employment in the entertainment and hospitality sectors as a driver of economic growth. Fairmount has long been an influential diversity recruiting light and the investment of FanDuel will completely align and speed up the proud tradition of the track as a community cornerstone.
No stranger to investing in the sport of horse racing is FanDuel. The company is a major sponsor of marquee horse racing activities at Keeneland Racecourse in Lexington, KY, including the Breeders’ Cup World Championships, the TVG Pacific Classic, the TVG.com Haskell Invitational and major races.
It has invested heavily in broadcasts of live horse racing events on TVG.com and particularly the TVG network, and is also a major supporter of charities like the Thoroughbred Aftercare Partnership and the Permanently Disabled Jockeys Fund that influence the horse racing community.
Mobile and online sports betting for FanDuel Sportsbook is currently available in Illinois and the sports betting licence will shortly be changed from Par-A-Dice Casino to FanDuel Sportsbook and Horse Racing, pending Illinois Gaming Board approval.