Accel Entertainment, a leading gaming operator, has announced its acquisition of FanDuel Sportsbook & Horse Racing in Collinsville, Illinois. This strategic move, valued at approximately $35 million, includes plans to develop a new casino on the site. The acquisition is expected to enhance Accel’s presence in the local gaming market and support the Illinois agriculture and equine industries. The investment will see the construction of both a temporary and permanent casino, with significant economic benefits anticipated for the region.
Strategic Acquisition and Investment Plans
Accel Entertainment’s acquisition of FanDuel Sportsbook & Horse Racing marks a significant expansion of its gaming operations. The deal, valued at $35 million, involves the purchase of Fairmount Holdings Inc. and its subsidiary, Fairmount Park Inc. This acquisition is part of Accel’s broader strategy to enhance its footprint in the local gaming market. The company plans to invest an additional $85 to $95 million to develop a temporary and permanent casino on the site.
The temporary casino is expected to open in mid-2025, featuring 200 slot machines and several gaming tables. This interim facility will provide immediate economic benefits to the region while the permanent casino is under construction. The permanent casino, slated for a mid-2027 opening, will offer 500 slot machines, 24 gaming tables, and a sportsbook. This development is anticipated to create numerous jobs and stimulate economic growth in Collinsville and the surrounding areas.
The acquisition and subsequent investment underscore Accel’s commitment to supporting the local economy and the Illinois agriculture and equine industries. By enhancing the gaming and entertainment options in the region, Accel aims to attract more visitors and boost local businesses.
Economic and Community Impact
The acquisition of FanDuel Sportsbook & Horse Racing by Accel Entertainment is expected to have a profound impact on the local economy. The development of a new casino will create numerous job opportunities, both during the construction phase and once the facility is operational. This influx of employment will provide a significant boost to the local economy, supporting families and businesses in the region.
In addition to job creation, the new casino is expected to attract a substantial number of visitors to Collinsville. This increase in tourism will benefit local hotels, restaurants, and other businesses, contributing to the overall economic vitality of the area. The enhanced gaming and entertainment options will also provide residents with new recreational opportunities, improving the quality of life in the community.
Accel’s investment in the Collinsville venue is also a testament to its commitment to supporting the Illinois agriculture and equine industries. The company plans to reinvest a portion of the proceeds from the casino into these sectors, further bolstering the local economy. This holistic approach to economic development ensures that the benefits of the acquisition are felt across multiple industries and communities.
Future Prospects and Industry Implications
The acquisition of FanDuel Sportsbook & Horse Racing by Accel Entertainment represents a significant milestone in the gaming industry. This strategic move not only enhances Accel’s presence in the local market but also sets a precedent for future acquisitions and investments in the gaming sector. The development of a new casino in Collinsville is expected to attract attention from other gaming operators, potentially leading to further investments in the region.
The successful implementation of Accel’s plans will likely serve as a model for other gaming companies looking to expand their operations. By demonstrating the economic and community benefits of such investments, Accel is paving the way for future growth and development in the gaming industry. This acquisition also highlights the importance of strategic partnerships and collaborations in achieving long-term success.
As the gaming industry continues to evolve, Accel Entertainment’s acquisition of FanDuel Sportsbook & Horse Racing is a clear indication of the company’s commitment to innovation and growth. The development of a new casino in Collinsville is just one example of how Accel is leveraging its expertise to create value for its stakeholders and support the local community.
