Accel Entertainment Expands with Fairmount Holding Acquisition
Accel Entertainment, the United States (US) based gaming operator and distributor, has announced it has acquired Fairmount Holdings (Fairmount) which includes FanDuel Sportsbook & Horse Racing located in the town of Collinsville, Illinois.
Accel Purchases FanDuel Sportsbook & Horse Racing in Illinois from Fairmount.
LISTEN TO THIS ARTICLE:Accel Entertainment completed the purchase with 3.45 million ACEL shares, which equates to a value of approximately $35 million. The racetrack at Fairmount has an active racing calendar of 65 race meeting days and it also has permission for an onsite casino offering. Accel Entertainment has outlined that as part of its plans for Fairmount, it will take advantage of the casino permission and will initially build a temporary casino site, with plans for a permanent casino venue at a later date. The distributor states the new casino will enhance the whole race day and entertainment experience in Collinsville.
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 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.
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Mayor Says Acquisition Is a Boost to the Local Economy
The acquisition has many potential benefits for Accel Entertainment and extends the business's gaming footprint in the region. Additionally, the purchase includes an Organization Gaming License which grants approval to offer sports betting and casino gaming to customers in the state.
The purchase has the additional bonus of being the only horse racing venue in the greater St. Louis area, as well as only one of two horse racing tracks in the entire state of Illinois.
Accel has a strategy of growth through acquisition and this move follows the earlier purchase of Century Entertainment.
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.
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