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In a significant development for Illinois’ horse racing and gaming industry, the Illinois Racing Board has approved Accel Entertainment’s acquisition of FanDuel Sportsbook and Horse Racing, formerly known as Fairmount Park. This marks a pivotal move by Accel into the Thoroughbred sector, with the company unveiling plans to launch a temporary casino by the 2025 Kentucky Derby.
Transformative plans at Collinsville Track:
Accel Entertainment is venturing into its initial Thoroughbred industry investment by acquiring the Collinsville, Illinois-based track for approximately $35 million. The gaming firm is not stopping at mere acquisition; it has earmarked an additional $85-$95 million for constructing both a temporary facility and a permanent casino, alongside modest improvements to the track itself. This includes necessary maintenance and enhancements focusing on infrastructure and security upgrades, according to Accel’s executives.
As Bloodhorse reports, during a presentation to the Illinois Racing Board, Accel’s president of U.S. gaming, Mark Phelan, shared, “We are very humble about what we’re going to do here,” underscoring the company’s commitment to elevate the facility’s standards and operations.
The temporary casino, pending further approvals, is anticipated to occupy the existing structures at the venue, featuring around 200 slot machines and four to six table games. Plans for a more expansive permanent casino are also on the table, promising a larger scale of gaming options.
Moreover, Accel has committed to a 2025 purse guarantee of $5 million to enhance the quality of racing for stakeholders and fans alike. “We are seeking to improve the overall quality of racing for owners, trainers, and fans in support of the Illinois horse industry and to comply with state legislation,” Phelan added.
Community and economic prospects:
This acquisition not only signifies growth for Accel Entertainment but also promises significant economic benefits for southern Illinois and the greater St. Louis area. The mayor of Collinsville, Jeff Stehman, expressed optimism about the project’s potential to drive economic growth and job creation along the Collinsville road corridor.
As Accel Entertainment takes on this ambitious project, their strategic vision extends beyond just the expansion of gaming facilities. The company is actively engaging with local and state stakeholders to ensure that the development aligns with community interests and supports broader economic and social goals. This collaboration is poised to foster a thriving environment that benefits both the gaming and horse racing industries, while also contributing to the agricultural and equine sectors in Illinois. Accel’s initiative is a testament to their commitment to community development and their role as a key player in the revitalization of local entertainment and sports industries.
Conversely, progress seems to be stalling at Hawthorne Race Course, with demolition commenced in 2019 following state authorization for racinos. Tim Carey, president of Hawthorne, mentioned that the track is in advanced stages of finalizing financing for its casino, which is eagerly anticipated by the local horse racing community.
The Illinois Racing Board has also ratified the 2025 racing calendar, dividing the season between Thoroughbred and harness racing, ensuring a comprehensive racing schedule that caters to all facets of the sport.
