COLLINSVILLE, Ill. — FanDuel announced it'll make a multi-million-dollar investment in Fairmount Park Racetrack in Collinsville.
The racetrack will be rebranded as FanDuel Sportsbook and Horse Racing.
According to a press release from FanDuel, the company also plans to revitalize the venue including the opening of a FanDuel Sportsbook retail location.
This will be FanDuel Group's first investment in a race track, according to the release.
FanDuel Group said it will work with William Stiritz and Associates to revitalize the iconic 95-year-old track including significant upgrades to the facility.
The company will also fund the renewal and running of the $250,000 St. Louis Derby, which was the track's signature event. It has not been conduct since 2006.
“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,” said Matt King, Chief Executive Officer of FanDuel Group. “Fairmount is an iconic state landmark which we plan to modernize bringing innovative technology and entertainment offerings only FanDuel can deliver.”
“Fairmount Park is excited to extend our partnership with FanDuel Group to now include their sports gaming platform,” said Melissa Helton, General Manager of Fairmount Park. “This partnership will allow the park to remain an important economic driver for the surrounding communities.”
Fairmount Park Racetrack opened in 1925. It has been approved to host 53 live racing days in 2021.
The FanDuel Sportsbook mobile and online sports betting experience is currently available in Illinois.