FanDuel Makes a Multi-Million Dollar Investment Into Illinois Racetrack

USA’s online gambling brand FanDuel Group has released the official statement in which it was announced that they are ready to make a multi-million dollar investment into Fairmount Park Racetrack in Illinois’ Collinsville.

The racetrack will change its name to FanDuel Sportsbook and Horse Racing and will have its venue revamped with the retail location of FanDuel Sportsbook.

The Deal’s Details

This is FanDuel’s first ever investment in a race track…

…as the company readies itself to work with William Stiritz and Associates to overhaul the 95 year old venue. This will include substantial upgrades to the track, while the retail sportsbook is still subject to regulatory approval.

The brand will also fund the renewal of St. Louis Derby which has had financial constraints since 2006.

Says Matt King, CEO of FanDuel Group:

“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.”

Melissa Helton, Fairmount Park’s General Manager, added that the venue is very excited to extend their partnership with FanDuel to include sports gaming platform.

“This partnership will allow the park to remain an important economic driver for the surrounding communities,” she said.

Long History in the Field

Fairmount Park Racetrack is located in Collinsville, Illinois. It is one of three horse racing venues active in this state.

The track was open in 1925 and consists of a one-mile dirt oval. In 2021 it was approved to host 53 live racing days.

FanDuel has invested in horse racing before through their TVG brand, launched in 1999. They are 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.

Source:

“FanDuel Group Announces Multi-Million Dollar Investment in Fairmount Park Racetrack”, fanduel.com, November 16th, 2020.