A Centennial Turnaround: How Racino Gaming is Reviving Historic Illinois Horse Racing

COLLINSVILLE, Ill. – November 10, 2026 — For much of the past decade, the narrative surrounding American thoroughbred horse racing has been one of managed decline. Dwindling attendance, shrinking fields, and aging infrastructure have forced historic tracks across the country to shutter their gates. Yet, in the heart of Southern Illinois, a starkly different story is unfolding. Fairmount Park Casino and Racing, a fixture since 1925, has just concluded a record-breaking 2026 season, proving that the integration of casino gaming with traditional pari-mutuel wagering can not only stabilize a struggling venue but actively propel it into a new era of growth.

The track's resurgence is no happy accident. It is the direct result of aggressive capital deployment and strategic repositioning by its parent company, Accel Entertainment, Inc. (NYSE: ACEL). By transforming the historic track into a fully operational "racino," Accel has successfully utilized casino revenues to subsidize racing purses and fund massive infrastructure overhauls. The results from the 2026 season offer a compelling case study in how corporate gaming operators can breathe new life into legacy regional sports and entertainment assets.

The Racino Subsidization Model at Work

The most immediate metric of a racetrack's health is the size and quality of its fields, which are directly tied to the purses offered to owners and trainers. In 2026, Fairmount Park awarded 37% more in purses compared to the previous year. This financial injection, heavily supported by the venue's on-site casino operations, had an immediate gravitational pull on regional equestrian talent.

Compared to 2025, Fairmount Park ran 18% more horses and hosted 30 additional races. At various points during the season, the Collinsville track boasted more horses running than any other facility in the nation. This increased field size translated directly into a superior product for bettors and fans alike. Consequently, the track welcomed nearly 19,000 more spectators in 2026. The St. Louis Derby, a marquee event for the region, drew a crowd of over 6,000 attendees, marking one of the most successful Derby Days in the facility's recent history.

“We set several records this season, and it was a very successful year from start to finish,” Fairmount Park General Manager Brian Jenkins noted in a recent statement. “We’re going to keep investing in our racing product every year, including our track infrastructure and purses to draw the best talent from around the region right here in Collinsville.”

Industry insiders note that the $500,000 increase in 2026 racing purses was directly supported by gaming revenue, validating the legislative intent behind Illinois's 2019 gaming expansion bill, which permitted casinos at racetracks to help save the state's ailing horse racing industry.

From Route Operator to Racino Mogul

To understand the mechanics of Fairmount Park's revival, one must examine the corporate strategy of Accel Entertainment. Traditionally known as a distributed gaming operator—managing nearly 30,000 electronic gaming machines in over 4,700 bars, restaurants, and truck stops across ten states—Accel's acquisition of Fairmount Park in 2024 for $40.5 million in stock represented a significant strategic pivot.

Transitioning from a route operator managing decentralized terminals to a destination brick-and-mortar casino operator requires a vastly different capital expenditure profile and operational expertise. Accel committed over $85 million to enhancements, opening the initial casino space in April 2025. In the spring of 2026, the company invested nearly $3 million to introduce live dealer table games, creating approximately 35 new jobs and elevating the venue's status from a slot parlor to a comprehensive casino destination.

The financial returns on this pivot are beginning to materialize. In the third quarter of 2026, Accel reported that gaming revenue at Fairmount Park increased by approximately 84% year-over-year, a performance described by financial analysts as a standout in the company's portfolio. This localized success contributed to Accel's broader financial health, with the company reporting Q3 2026 net revenues of $363.6 million and net income of $20.6 million.

However, the transition to destination gaming is not without its hurdles. Recent financial disclosures indicate that construction costs for Fairmount's permanent casino facility are tracking 15% to 20% higher than the initial $80 million estimate. Despite these inflationary pressures, corporate leadership remains steadfast, projecting that the permanent facility will eventually generate $20 million to $25 million in annualized EBITDA. This long-term outlook highlights a willingness to absorb short-term capital expenditure risks in exchange for a dominant, high-margin regional entertainment monopoly.

Modernizing the Backstretch and Fan Experience

The revitalization of Fairmount Park extends far beyond the casino floor. For decades, the track suffered from deferred maintenance—a common symptom of the declining economics of standalone horse racing. Accel's strategy has involved systematic reinvestment into the physical infrastructure of the racing product itself.

Over the past year, the facility saw the installation of a new inner rail—a critical safety upgrade for horses and jockeys—alongside a new clubhouse kitchen, a revamped winner's circle, and modernized dining and restroom facilities.

Looking ahead to 2027, the pace of renovation is accelerating. For the first time in decades, Fairmount Park will debut a new racing office, modernized jockeys' quarters, and a new paddock. These backstretch improvements are essential for retaining top-tier trainers and jockeys who demand professional, safe, and modern working conditions.

“We’re investing heavily in the track, and we plan to continue to upgrade Fairmount Park in all aspects,” Jenkins added. “We are enhancing the facility for our guests, fans, and athletes, continuing our commitment to our rich history.”

These facility upgrades will support an expanded 2027 racing schedule. The upcoming season will run longer, stretching from April 6 to November 23, featuring live racing on Tuesdays, Wednesdays, and the first Saturday of each month, strategically positioning the track to capture both weekday simulcast bettors and weekend leisure crowds.

The Broader Economic and Cultural Impact

The ripple effects of Fairmount Park's turnaround extend well beyond the corporate balance sheets of Accel Entertainment. As the only horse racing track within a four-hour radius of Collinsville, the venue serves as a critical economic and cultural anchor for Southwest Illinois.

The introduction of table games and the expansion of the racing calendar have created steady, localized employment in a region that benefits greatly from hospitality and tourism dollars. Furthermore, the track's success occurs against the backdrop of a booming Illinois gaming market. Statewide casino revenues have consistently shown 9% to 11% year-over-year growth throughout 2026, generating vital tax revenue for both municipal and state governments.

Yet, beyond the economic data, there is a distinct cultural preservation at play. The 2026 season celebrated individual excellence that keeps the spirit of the sport alive. Alexander Bendezu captured Jockey of the Year honors with 76 wins and over $1.3 million in earnings, while Scott Becker secured Trainer of the Year with 67 wins. The season also highlighted the diverse, evolving face of the sport, with fan favorites like Johanis Aranguren, a female jockey from Venezuela, and Brody Martinez, a young local talent, securing 50 and 31 wins respectively.

By leveraging the high-margin revenue of casino gaming to cross-subsidize the capital-intensive, culturally significant sport of horse racing, Accel Entertainment has engineered a sustainable path forward for Fairmount Park. In an era where legacy entertainment venues frequently fall victim to changing consumer habits and economic friction, the centennial turnaround in Collinsville offers a blueprint for how strategic corporate investment can successfully bridge the gap between historic preservation and modern profitability.