FanDuel Group and TVG will also fund the renewal and running of the St. Louis Derby
anDuel announced Monday plans to make a multi-million-dollar investment in Fairmount Park Racetrack in Collinsville, Illinois, which will be rebranded as FanDuel Sportsbook and Horse Racing.
In addition, the company plans a full revitalization of the venue including the opening of a FanDuel Sportsbook retail location. This partnership is consistent with FanDuel’s long history in the sport of horse racing via its subsidiary TVG, an online ADW platform and sports-oriented digital cable and satellite television network. This agreement also marks FanDuel Group’s first investment in a race track.
FanDuel Group will work with William Stiritz and Associates to revitalize the iconic 95-year-old track including significant upgrades to the facility and the establishment of a FanDuel Sportsbook retail location pending continued licensing and regulatory approvals from the Illinois Gaming Board. FanDuel Group and TVG also announced the company will fund the renewal and running of the $250,000 St. Louis Derby, the track’s signature event, which has not been conducted since 2006 due to financial constraints.
“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,” FanDuel CEO Matt King said in a press release. “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.”
The capital improvements, the addition of a retail sportsbook and the new horse racing events are part of a modernization plan that will serve as a driver of economic growth for the region providing new jobs in the entertainment and hospitality sector.
Fairmount Park Racetrack is one of three horse racing venues currently active in Illinois and the only one outside of the Chicago metro area. The track opened in 1925 and offers thoroughbred flat racing on a one-mile dirt oval. Fairmount Park has been approved to host 53 live racing days in 2021 along with daily simulcast wagering on tracks throughout the country.
Launched in 1999, TVG broadcasts 60,000 races from more than 150 tracks around the world on its two channels, TVG and TVG2. TVG has invested in a best-in-class OTT HD product and is available in HD via DirecTV and Spectrum Cable systems along with streaming services like YouTube TV, fuboTV and AT&T Now. TVG also simulcasts and shares production resources with NBC Sports, NBCSN and multiple NBC regional sports networks to provide coverage of major horse racing events during the year
The FanDuel brand has made a big impact on the sport of horse racing by introducing a younger audience to the sport with its FanDuel Racing product and daily fantasy contests for marquee events. Earlier this year in an effort to attract new fans to horse racing, The group launched its FanDuel Racing product, an advance-deposit wagering (ADW) platform designed for novice racing fans. To date, FanDuel has introduced more than 50,000 players to ADW from its sportsbook and daily fantasy platforms. The company also offers daily fantasy contests for major racing events.
The FanDuel Sportsbook mobile and online sports betting experience is currently available in Illinois. In the near future, FanDuel Group’s sports betting license will be transferred from Par-A-Dice Casino to FanDuel Sportsbook and Horse Racing, pending approval from the Illinois Gaming Board. The FanDuel Sportsbook is available in a total of eleven states via retail and online experiences.