COLLINSVILLE, Ill. – Big changes are coming to FanDuel Sportsbook and Horse Racing and Collinsville Racetrack.
Accel Entertainment plans to acquire the property in a stock transaction for about $35 million and also plans to add a casino on the site.
FanDuel Sportsbook & Horse Racing is the only active racetrack in the St. Louis area, hosting 65 racing days and approximately 435 horse races per year.
The transaction is worth 3.45 million Accel shares, roughly $35 million based on recent averages.
The acquisition includes both Fairmount Holdings and its subsidiary, Fairmount Park Co. The move marks an expansion for Accel, which currently operates gaming terminals in a variety of non-casino locations, including bars and restaurants.
The company owns and operates approximately 25,000 electronic gaming machines in 4,000 retail stores across seven states.
Collinsville Racetrack, which rebranded as FanDuel Sportsbook & Horse Racing in 2020, boasts a rich history dating back to 1925 and is almost 100 years old.
Accel plans to invest between $85 million and $95 million in the construction of both the temporary and permanent casinos.
The temporary facility is expected to open in mid-2025 with 200 slot machines and four to six tables.
The permanent casino will feature 500 slot machines, 24 tables and a sportsbook and is expected to open in mid-to-late 2027.
The transaction is expected to close in the fourth quarter of 2024, pending approval by the Illinois Racing Commission and the Illinois Gaming Commission.