Fairmount Park To Rebrand, Will Become FanDuel Sportsbook and Horse Racing

There won’t be any more Fairmount Park Racetrack. Once it’s open for business, the 95-year-old Collinsville animal monitor will change its name to FanDuel Sportsbook and Horse Racing.

In a speech, Matt King, CEO of FanDuel Group, stated:

“We are excited to partner with Fairmount Park in continuing to offer first-rate horse racing and soon, more entertainment choices through our casino. Our aim is to enhance Fairmount, a renowned state landmark, by equipping it with advanced technology and unique entertainment options exclusive to FanDuel.”

Since late August, FanDuel Sportsbook has been operating in Illinois in partnership with Par-A-Dice Casino in East Peoria.

FanDuel has confirmed plans to shift its sports betting license from Par-A-Dice to the Illinois horse track soon, as per their statement. A spokesperson from FanDuel also assured Play Illinois that they will continue operating the Par-A-Dice retail sportsbook.

However, Illinois law allows only one smart skin per entity. Once the transfer is completed, another technician might collaborate with Par-A-Dice to facilitate the introduction of BetMGM into the Illinois online market.

In October, the Illinois Gaming Board (IGB) preliminary approved Fairmount to open a “racino” and gave the park a sports betting license.

Reportedly, FanDuel has big plans for the upcoming downstate racino.

Fairmount Park is already in poor condition.

The Collinsville track has been experiencing a declining trend for several years. The lack of revenue has failed to draw in premier horse owners and maintain the facility sufficiently.

The measurements of the nation’s handbags are among the smallest.

Officials in Collinsville have long been hopeful for Illinois game legislation to allow Fairmount to offer slots and sports betting. That hope has now become a reality.

It is reported that FanDuel and Fairmount will invest millions of dollars into the home, though the exact amount is not specified.

FanDuel indicates a potential collaboration with William Stiritz and Associates to refurbish the trail with significant enhancements. The company has maintained ownership of the track since 2000.

FanDuel has extensive experience in the horse racing industry, despite this being the first track to bear its name. It maintains numerous partnerships with horse tracks nationwide and runs the horse race betting and TV service, TVG app.

The St. Louis Derby, which hasn’t taken place in Collinsville since 2006, could potentially make a return next year due to a new agreement. This deal will assist in providing the event’s $250,000 purse.

Despite FanDuel and William Stiritz and Associates’ specific terms being unclear, it appears that the company has acquired a significant share in the race, considering the rebrand.

FanDuel is the latest gaming company in Illinois to team up with a racetrack. PointsBet & nbsp secured market access by forming a partnership with the Hawthorne Race Course in the Chicago area, although the racetrack will retain its original name.

“Fairmount Park is thrilled to expand our collaboration with the FanDuel Group to incorporate their sports gaming platform,” stated Melissa Helton, Fairmount Park’s general manager. “This alliance will enable the park to continue being a crucial economic force for the surrounding towns and villages.”

In Illinois, FanDuel has gotten off to a good start.

FanDuel recorded a handle of $78.6 million in its first full month of operating as a live sports betting operator in Illinois.

BetRivers Sports and DraftKings Sportsbook were ahead, with FanDuel coming in third. However, the gap between FanDuel and the fourth-place PointsBet was nearly $70 million.

However, FanDuel was just about $20 million behind DraftKings, taking the second position. Between August and September, both made significant strides against BetRivers, leading to speculation as to whether they will eventually overtake them.

Furthermore, this agreement should enhance FanDuel’s retail visibility in Illinois.

Par-A-Dice Casino only recorded $191,650 in retail handle in September, despite having good online numbers. This ranked them seventh amongst the eight retail sportsbooks in Illinois.

Collinsville’s approximate distance of 20 hours from the city of St. Louis enhances its appeal for FanDuel. However, it will face competition from DraftKings at Argosy Casino Alton and Casino Queen in East St. Louis for base customers. Nonetheless, the region has a historical interest in betting.

Conversely, the combined retail sports betting handle for those two games in September amounted to $4.7 million. Moreover, FanDuel, unlike those two games, will have the capability to offer horse racing.

Both FanDuel and DraftKings are set for exciting times ahead in Illinois. DraftKings will eventually expand its presence by adding another retail sportsbook, in collaboration with the Chicago Cubs, at Wrigley Field.