Fairmount Park Gets Approval For Illinois Sports Betting License

Odds Board and Money
Fairmount Park’s applications for an Illinois sports betting license was approved 4-0 by the Illinois Gaming Board during a special meeting held on Thursday morning. During the meeting, Fairmount Park was also given “preliminary suitable” status to accept casino games.

With its approval, Fairmount Park becomes the 9th applicant granted a Master Sports Wagering License by the Illinois Gaming Board since June. The approved license is valid for four years. Fairmount Park’s sports betting provider will be FanDuel and it applied for the license as FanDuel Sportsbook and Horse Racing.

First Sportsbook at Multiple Retail Venues

FanDuel has been live in Lincoln State since since August 28th when it launched its sports betting app through a partnership with Boyd Gaming’s Par-A-Dice-Casino in East Peoria. That consortium started accepting legal Illinois sports betting transactions last September 10th.

But while FanDuel is the first Illinois sports betting company to operate in multiple venues, it won’t be the last. PointsBet, who has a partnership with Hawthorne Race Course, is planning to open three Chicago suburban off-track betting sites in the near future while DraftKings, a partner of Casino Queen, is expected to open a sportsbook at Wrigley Field in partnership with the Chicago Cubs.

Gaming Expansion Bill

Horse racing tracks were allowed to apply for casino and sports betting licenses as part of the gaming expansion bill signed into a law by Gov. J.B. Pritzker in June 2019. FanDuel had been in talks with Fairmount as early as February as a workaround to the 18-month waiting period from the issuance of the first sports betting license to when the Illinois Gaming Board can accept an online-only application.

With its approval, Fairmount Park thus joins Hawthorne Race Course as the only race tracks in the state permitted to conduct sports betting activities and given “preliminary suitable” status to add casino games. Arlington International Racecourse, the third race track in the state, did not apply for an Illinois sports betting or a racino license.

If its Racino application is approved, Fairmount Park stands to offer up to 900 gaming positions at slot machines and table games. The total cost of the expansion has been estimated at $50M. There is no timetable yet for the expansion as it is dependent on how fast the approval process goes.