FanDuel Announces Multi-Milion Dollar Investment in Fairmount Park

Image of Horse Racers and Sportsbook Background
FanDuel Group, one of the top gaming companies in the United States, announced on Monday a partnership with Collinsville’s Fairmount Park.

Under the agreement, Fairmount Park will be rebranded and renamed as FanDuel Sportsbook and Horse Racing. In exchange, FanDuel will make a multi-million dollar investment to revitalize the venue while opening a retail FanDuel sportsbook in the property. Fairmount Park’s signature race, the $250,000 St. Louis Derby, will also be revived by FanDuel and TVG. The race has not been held since 20006 due to financial constraints.

Said Matt King, Chief Executive Officer of the 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.”

The Only Active Horse Racing Venue Outside Metro Chicago

Fairmount Park is one of the three active horse racing venues in Illinois and the only one outside of the Chicago metro area. The one-mile dirt oval track opened in 1925 and was the home of the St. Louis Derby which was last run in 2006. It has been approved to host a total of 53 live racing days in 2021 along with daily simulcast wagering on tracks throughout the country.

The Collinsville, Illinois track also has a pending application for a casino license. Last month, it was given a “preliminary suitable” status to add casino games. If its Racino license is approved, an investment of $50M is expected to be shelled out so that Fairmount Park can offer up to a combined 900 slot machines and table games.

No Stranger To Horse Racing

While the Fairmount Park deal is its first investment in a race track, FanDuel is no stranger to horse racing. Through the TVG brand, it broadcasts 60,000 horse races from more than 150 track via its two channels TVG and TVG2. TVG also simulcasts major horse racing events during the year with its resource-sharing pact with NBC Sports, NBC SN, and NBC regional sports networks.

It is also a major sponsor of marquee horse racing events like the Breeders Cup World Championships, TVG Pacific Classic, Haskill Invitational, and other races at Keeneland Racecourse in Lexington. It has also made an impact by introducing the FanDuel Horseracing Product and daily fantasy contests to marquee events. It recently launched and advanced deposit wagering (ADW) platform designed for novice racing fans.