COLLINSVILLE, Ill. – Big changes are on the horizon at FanDuel Sportsbook and Horse Racing and the Collinsville Horse Track.
Accel Entertainment will acquire this venue for about $35 million in a stock deal. There are also plans to add a casino to the site.
FanDuel Sportsbook & Horse Racing is the only active horse racing venue in the greater St. Louis area. It hosts 65 race days and about 435 horse races a year.
The deal is valued at 3.45 million shares of Accel stock, translating to around $35 million based on recent averages.
The buyout includes both Fairmount Holdings Inc. and its subsidiary, Fairmount Park Inc. This move marks an expansion for Accel, which currently operates gaming terminals in various non-casino venues, like bars and restaurants.
They own and operate around 25 thousand electronic gaming machines in four thousand retail sites across seven states.
The Collinsville track, rebranded as FanDuel Sportsbook & Horse Racing in 2020, has a rich history dating back to 1925—almost a hundred years of history here.
Accel plans to invest $85 to $95 million to pay for the construction of both a temporary and permanent casino.
The temporary facility is expected to open in mid-2025 with 200 slot machines and four to six tables.
The permanent casino is targeted for a mid- to late-2027 opening with 500 slot machines, 24 tables, and a sportsbook.
The transaction is expected to close in the fourth quarter of 2024, pending approvals from the Illinois Racing Board and Illinois Gaming Board.
