The Illinois Racing Board has approved the acquisition of FanDuel Sportsbook and Horse Racing, the former Fairmount Park, by Accel Entertainment, with executives of that firm outlining plans to have a temporary casino operating on-site before the 2025 Kentucky Derby (G1).
Accel, a gaming company making its first foray into the Thoroughbred industry, also promised improvements and upgrades in all areas at the track, located in Collinsville, Ill., across the Mississippi River from St. Louis.
"We are very humble about what we're going to do here," Accel president of United States gaming Mark Phelan told the IRB Sept. 19 at its annual dates allocation meeting.
"We didn't know much about racing before we started doing our research," added Accel general counsel Derek Harmer. "Now we're thrilled beyond what we originally expected and the opportunity to be part of this industry and to partner with the state of Illinois is very exciting to us."
Phelan said his firm's approximate $35 million acquisition cost will be backed up with $85-$95 million in construction of the temporary casino and a permanent facility as well as "modest track improvements." The latter, he said in his formal presentation, will include "deferred maintenance, infrastructure improvements, and enhancements to security and surveillance."
He said the temporary casino, pending further regulatory approvals, likely will be in the existing facility and include about 200 slot machines and four to six table games. A permanent casino would be larger.
"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," he said, also pledging a 2025 purse guarantee of $5 million.
"I think what gets lost in mainstream thought about sports in general is that horse racing is fundamentally a sport that has amazing athletes, both human and nonhuman, and it's a very exciting sport. We look at this as an opportunity to grow that."
The track was rebranded from the historic Fairmount Park name when it was acquired by the current owners. Phelan said Accel has not decided yet what name it will use for the facility.
The IRB's approval is the first step in a process that also requires approval by the Illinois Gaming Board of a casino license for Accel. The firm currently holds a license from the IGB as a video gaming terminal operator.
While the IRB and horsemen welcomed forward movement on a Fairmount Park casino, they seemed to be losing patience with a lack of progress at Hawthorne Race Course. Hawthorne started demolition of its grandstand shortly after racinos were authorized by the state in 2019 but construction has been on hold since then pending financing.
Hawthorne president Tim Carey said the family-owned track now is in the "final stages" of negotiations but that he is prohibited from divulging details.
"We are in the very advanced phases to finalize our financial transaction for the construction of the casino," Carey said. "What I will say is that we remain steadfast in our efforts to completely redevelop Hawthorne and to revitalize Illinois horse racing ...
"I know how people are eager for the casino. I know that there is urgency. I am truly empathetic with that. But the process is the process and the circumstances are what they are. I am confident that Illinois horse racing will hold together until a Hawthorne casino is up and running."
Chris Block, the president of the Illinois Thoroughbred Horsemen's Association, said while the organization appreciates all Hawthorne has done to keep racing going, time is running out. He said his family business, Team Block, a mainstay and bellwether for the state's racing industry, already is selling some young horses it would rather keep and race because of the economics.
"This can't come soon enough," he said of a Hawthorne casino. "I'm not sure I agree so much with Tim that the horsemen will be there. You're talking to a guy who's losing owners each year. I just lost one the other day.
"I know there's a golden day coming. Tim promised that and I believe it's going to come true. But it can't come soon enough," Block added.
The IRB also approved a 2025 racing schedule which, as in the past several years, splits the Hawthorne season between Thoroughbred and harness racing.
Harness racing will run Jan. 4-Feb. 23 and Nov. 7-Dec. 28. The Thoroughbred season will commence March 20 and extend to Nov. 3, encompassing both the Kentucky Derby (G1) and the Breeders' Cup World Championships.
Harness horsemen argued vigorously to be granted the last two weeks in October but were voted down on a rare disputed tally of 7-1.
Fairmount Park was authorized 55 dates from April 22-Oct. 28.
