Fairmount Park To Rebrand, Will Become FanDuel Sportsbook and Horse Racing
FanDuel Group CEO Matt King stated in a speech:
& ldquo, We are thrilled to collaborate with Fairmount Park to continue providing the area with top-notch horse racing and soon more entertainment options through our casino. We intend to develop Fairmount, a well-known state landmark, by providing cutting-edge technology and entertainment options that can only be found on FanDuel. & rdquo,
According to FanDuel, it will transfer its sports betting license from Par-A-Dice to the Illinois horse track “in the near future.” A FanDuel spokesperson confirmed to Play Illinois that it would continue to operate the Par-A-Dice retail sportsbook.
But, Illinois law only permits one smart skin per entity. After the transfer is finished, another technician may join forces with Par-A-Dice to launch BetMGM‘s entry into the Illinois virtual marketplace.
In October, the Illinois Gaming Board (IGB) deemed Fairmount preliminarily suitable to open a “racino,” and granted the park a sports betting license.
FanDuel reportedly has grand ideas for the upcoming downstate racino.
Fairmount Park is already in poor condition.
The Collinsville track has been trending downward for years. The revenue hasn’t been there to attract top horse owners and adequately maintain the facility.
The nation’s handbag measurements are among the lowest.
Officials in Collinsville have long hoped that Illinois games legislation would permit Fairmount to provide slots and sports betting. That & rsquo is now a fact.
FanDuel and Fairmount will reportedly put millions of dollars into the home, though the precise sum is unknown.
FanDuel says it may work with William Stiritz and Associates to revive the trail with major upgrades. The track has been owned by the company since 2000.
FanDuel is experienced in the horse racing space, even if this will be the first track to carry its name. It has several partnerships with horse tracks across the country and operates TVG app, the horse race betting and TV service.
The St. Louis Derby may even make a comeback the following year as part of the agreement. It hasn’t been operated in Collinsville since 2006, and the deal will aid in funding the event’s$ 250, 000 bag.
Although FanDuel and William Stiritz and Associates’ specific terms are unfamiliar, given the rebrand, it would seem that the company has gained a sizable stake in the race.
The next activities gaming company in Illinois to collaborate with a racetrack is FanDuel. To ensure market access, PointsBet & nbsp partnered with the Hawthorne Race Course in the Chicago area, but the horse track will continue to bear the name of the racetrack.
“Fairmount Park is excited to extend our partnership with FanDuel Group to now include their sports gaming platform,” said MelissaHelton, the general manager of Fairmount Park. “This partnership will allow the park to remain an important economic driver for the towns and villages nearby. & rdquo,
In Illinois, FanDuel has gotten off to a good start.
FanDuel, however, was only about$ 20 million short of DraftKings in second position. From August to September, that brace made significant progress on BetRivers, and it’s reasonable to question if both will eventually catch up to them.
Additionally, this agreement ought to boost FanDuel & rsquo’s retail presence in Illinois.
Despite quality online numbers, Par-A-Dice Casino recorded just $191,650 in retail handle in September. That was seventh out of Illinois’ eight retail sportsbooks.
Collinsville is approximately 20 hours from St. Louis’s city, which contributes to its allure for FanDuel. For base customers, it will have to contend with DraftKings at Argosy Casino Alton and Casino Queen in East St. Louis, but there is also a history of betting interest in the region.
In contrast, those two games combined for$ 4.7 million in retail sports betting handle in September. In addition, unlike those two games, FanDuel will be able to provide horse racing.
Exciting times are ahead for both FanDuel and DraftKings in Illinois. The latter will eventually add another retail sportsbook in tandem with the Chicago Cubs at Wrigley Field.