Sources: FanDuel In Talks To Buy Illinois Racetrack, Gain Immediate Sports Betting Access
- Thread starter MrTop
- Start date
FairWarning
Bells Beer Connoisseur
That would be a big FU to Rivers.
Chi_Archie
EOG Veteran
Damn I was hoping it would be hawthorne
FairWarning
Bells Beer Connoisseur
It should be a breakthru for a mobile gaming app though.
FairWarning
Bells Beer Connoisseur
I think this may be about the mobile part. The mobile-only was twice as much as a land-based casino with an app. Besides that, Fanduel had to sit out an extra 1-2 years.
WildBill
2
The article posted said they are going to buy Fairmount Park. That would include the racing operation, which surely loses money, as well as the option to have a casino which the current owners have a live application for with the IGB. There were rumors for months that the property would be sold because the ownership group did not have solid financing to get licensed for the casino. They cannot open a mobile only casino without being the owners of the racetrack and continuing to offer races there. They could pull the plug on the casino, but highly unlikely they make much net of what it costs to pay for the license and operate the track. I don't think they would operate the casino themselves, they would hire a manager, but that property had to be sold on the potential for a casino.
Chi_Archie
EOG Veteran
article is from March 13
I would assume Covid has cooled the talks for awhile
but it gives FanDuel just that much more power/leverage when things start to get back to normal
I would assume Covid has cooled the talks for awhile
but it gives FanDuel just that much more power/leverage when things start to get back to normal
WildBill
2
Courts may have a big say in their future. I think Churchill really wants to close it and move its license to middle of nowhere and build like a barn next to it to serve as the grandstand for like a two week meet. All to protect a casino. Horsemen are fully right to be outraged.
Balmoral Park in suburban Chicago was for sale recently.
A real estate investor named Phil Goldberg was interested.
Haven't heard any news lately on the purchase.
A real estate investor named Phil Goldberg was interested.
Haven't heard any news lately on the purchase.
WildBill
2
The racing license is gone, it became an equestrian center, but a few proposed making it a racino site on the basis of the past licensed activity. Originally the idea was to put it in Tinley Park but when the papers got a whiff of Rick Heidner's friends there was swift action to make sure that wouldn't happen. Balmoral site doesn't appear likely to happen due to the many bids for a South Suburban casino in the same area.
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blueline
EOG Master
According to the Chicago Tribune, the Balmoral property is back on the market with an asking price of $4 million.
The 2016 deed for the 200-acre property prohibits gambling until 2026, but HITS confirmed last year that it had a pending deal with real estate developer Phil Goldberg, who planned to reintroduce harness racing and build a casino. Neither Goldberg nor HITS commented on the listing.
The 2016 deed for the 200-acre property prohibits gambling until 2026, but HITS confirmed last year that it had a pending deal with real estate developer Phil Goldberg, who planned to reintroduce harness racing and build a casino. Neither Goldberg nor HITS commented on the listing.
Feels like I've lost about $4 million at Balmoral Park.
Hehe.
Hehe.