FANDUEL’S PLANS TO REBRAND THE RACETRACK OF FAIRMOUNT PARK

The FanDuel Group has made plans to make a rebrand of the Fairmount Park Racetrack which is found in Collinsville Illinois, into an investment worth millions of dollars. After the rebrand, the racetrack will now be referred to as FanDuel Sportsbook and Horse Racing. This agreement is the first-ever investment that the company has made in a race track.

The company actually waits for approval from the gaming board of Illinois; after which their license for sports betting will be transferred from the casino of Par-A-Dice to the Sportsbook of FanDuel and Horse Racing.

Launched in 1999, the FanDuel group has used TVG which is its subsidiary to launch satellite network television and digital cable stations that are related mostly to sports. Through TVG, the FanDuel group has also participated in horse racing sports. The TVG has managed to broadcast races of up to 60,000 from about 150 tracks on both TVG and TVG2 that are its channels. The FanDuel Sportsbook is currently available with both online and retail experiences in eleven states.

This racing track was established in 1925 and is among the three active venues for horse racing in Illinois. It mostly offers flat racing that is thoroughbred on a dirt oval of one mile. It has actually been approved for hosting 53 days of live horsing in 2021. The racetrack has been operating some off-track facilities for betting in Carbondale, Springfield, Alton, and Sauget.

The Fairmount track used to offer several annual days for live racing. It has, however, suffered greatly because of the casinos on riverboats that are common in the St. Louis area. With the new partnership with the FanDuel Group, the Racetrack will be greatly revived.

The CEO of the FanDuel Group, Matt King, expressed their delight in the company’s partnership with Fairmount Park. He further added that they were keen on bringing horse racing that is of very high standards together with sportsbook entertainment experience in the Illinois region.

The CEO further acknowledged the fact that the Fairmount Horse Racetrack is a state landmark that is very iconic. He said that the FanDuel Group is capable of helping modernize the racetrack by bringing forth technology and entertainment deliveries.
The FanDuel Group further expressed its plans to help revitalize the Fairmount Horse track, which is 95 years old; with help from William Stiritz and Associates. The renovations include facility upgrades together with the establishment of the location for a retail sportsbook. The associates will help get the necessary state regulator approvals for the required licenses.

The FanDuel Group together with its subsidiary partner, TVG also plans on funding the renewal of St Louis Derby which is estimated to cost up to $250,000. The derby has not been conducted since 2006, due to a lack of finances.
Some of the renovations that are set to take place include the addition of more horse racing events and a retail sportsbook. These two modernization plans are going to help with the creation of new jobs in both the hospitality and entertainment industries, thus helping the economy to steadily grow.

The General Manager of the Fairmount Park, Melissa Helton, expressed how excited she was to partner with the FanDuel Group. She also reiterated the fact that the Park will help with the economic growth of the communities around.