Fairmount Park Granted Sports Betting License With FanDuel, Found Suitable For Racino

The Illinois Gaming Board ( IGB ) granted Fairmount Park a sports wagering license and determined that it was initially suitable to open an & ldquo, racino, and / or % of the business on Thursday morning.

The most crucial stage in the process is that, even though it doesn’t ensure the racino’s approval. However, acceptance is highly likely.

FanDuel will serve as the sports betting operator for Fairmount Park.

The decision was made following several months of speculation connecting Fairmount Park with FanDuel. Originally, FanDuel obtained access to the sports betting market through a partnership with Par-A-Dice Casino in August, which was unexpected at that time.

The expansion that is projected to cost a minimum of $50 million will enable Fairmount to provide up to 900 gaming positions at slot machines, table games, and a sportsbook.

FanDuel will soon provide two financial sports betting options in the Land of Lincoln. Once renovations at Hawthorne Race Course and Fairmount Park are complete, two racinos may finally be available to residents of Illinois.

The timeline for the Fairmount Park expansion is currently unknown, as it depends on the speed of the remaining acceptance process.

FanDuel and Fairmount will vie for St. Louis base traffic

The DraftKings at Casino Queen and Fairmount Park are less than 15 days away from St. Louis. On the other hand, Argosy Casino Alton is about 30 days ahead.

Sports betting, along with games and table games, will be offered at all three sites in the St. Louis region, ensuring plenty of competition for consumers.

If the requirement for in-person sports gambling registration continued, it would have an even larger impact, despite the importance of the information.

However, this isn’t the case due to a current executive order from Gov. JB Pritzker. Mobile registration will remain effective until at least Nov. 14. This date will probably be extended, depending on the COVID-19 situation in Illinois.

If the state had mandated in-person membership, Fairmount Park could have been a significant downstate hub for FanDuel.

FanDuel has also been added to the increasing list of Illinois sportsbooks that offer several retail locations.

PointsBet, in partnership with Hawthorne Race Course, plans to launch three off-track betting sites in suburban Chicago in the near future. On the other hand, DraftKings is set to open a retail sportsbook at Wrigley Field, collaborating with the Chicago Cubs.

For new providers, one less financial opportunity

While it’s unsurprising that Fairmount Park is the partner of the sportsbook, it can still pose a challenge for new operators.

Fairmount Park, one of the few financial establishments known to have an interest in sports gambling without a partner, is now officially affiliated with FanDuel.

Jumer’s Casino & Hotel is considering providing sports gambling, but it won’t be complete until the second quarter of 2021. However, it’s likely that Twin River will purchase it.

It’s unclear whether sports venues such as Guaranteed Rate Field and the United Center, under the ownership of Jerry Reinsdorf, are interested in acquiring an official sports betting partner, as they currently do not have one.

Consequently, the strategy for the BetMGM sportsbook in Illinois still remains unclear. They have sought a sports betting license, but their route to market access is yet to be defined.