ST. LOUIS — Fairmount Park, the 99-year-old horse-racing track in Collinsville, has been sold to Chicago-based Accel Entertainment for $35 million. This deal marks a significant transformation for the historic site.
Acquisition and Investment Plans
Accel Entertainment, known for its expertise in gaming and entertainment, plans to establish a casino at Fairmount Park. CEO Andy Rubenstein announced that the casino will feature three or four restaurants, live music, and other entertainment events. A future hotel is also under consideration.
“What we’re looking to do is bring a level of entertainment to the Metro East that hasn’t been there,” said Rubenstein. “It’s really a project that we think can be transformational.”
Economic Impact
The introduction of the casino and entertainment facilities is expected to boost the local economy. Rubenstein predicts that higher purses and improved race quality will attract more visitors, creating jobs and stimulating local businesses.
The sale price includes 3.45 million shares of Accel stock, with the deal expected to close in the fourth quarter of this year, pending approvals from the Illinois Racing Board and Illinois Gaming Board.
Historical Significance and Future Prospects
Fairmount Park has long been a significant cultural landmark. Efforts will be made to preserve its historical aspects while enhancing its facilities. The new developments aim to revitalize the park, providing a modern entertainment venue that maintains its legacy.
Accel plans to invest between $85 million and $95 million in the site, including infrastructure upgrades. A temporary casino in the existing grandstand building will open in the second quarter of 2025, with a permanent site featuring 500 slot machines and 24 tables scheduled for 2027.
Conclusion
The sale and redevelopment of Fairmount Park represent a major transformation for the historic horse-racing track. With the introduction of a casino, restaurants, and live entertainment, the park is set to become a premier destination in the Metro East area. The planned investments and improvements promise a bright future for both the park and the local community.
