The Illinois Racing Board has approved the acquisition of FanDuel Sportsbook and Horse Racing, the former Fairmount Park, by Accel Entertainment, for $35m with the aim now to have a temporary casino at the location in time for the 2025 Kentucky Derby.
Accel plans to invest $85 to $95m to fund temporary and then permanent casino construction and modest track investments to build a cornerstone in a local gaming platform that builds on Accel’s capabilities and strengths as a leading route-based operator.
Accel President of United States gaming Mark Phelan said: “We are very humble about what we’re going to do here.”
Andy Rubenstein, Accel co-founder, President, CEO and Director, said: “As a leading distributed gaming operator in the United States, we are excited to partner with ‘Hall of Fame’ value creators Bill Stiritz and Rob Vitale to deploy our local gaming expertise in this promising sportsbook, racetrack and future casino. We’re also deeply grateful to Mayor Jeff Stehman of Collinsville, state representatives Jay Hoffman (113th District) and Katie Stuart (112th District), state senator Chris Belt (57th District), the Illinois Gaming Board and the Illinois Racing Board for their support of this opportunity to reinvest and support job creation in the southern Illinois and greater St. Louis community,” Rubenstein continued. “We are excited to be a part of an almost 100-year-old southern Illinois institution in Fairmount Park and support the Illinois agriculture and equine industries.”
Mayor Jeff Stehman of Collinsville, IL. said: “I am delighted by Accel Entertainment’s purchase of FanDuel Sportsbook & Horse Racing. This move is a testament to the vitality and potential of Collinsville. It will undoubtedly spur economic development along the Collinsville road corridor, creating jobs and bolstering our local economy. We look forward to the positive impact this acquisition will have on our city.”