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Metro-East track agrees to be purchased by ESL casino

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Illinois

Owners of the Casino Queen say they would like to buy Fairmount Park, contingent upon a deal to allow slot machine gaming at horse tracks being passed by the Illinois Legislature< The move also would also require regulatory approval by the Illinois Gaming Board.

The casino, located in East St. Lous, and the horse track, located in Collinsville, are longtime competitors for area gambling dollars and have been at odds over previous proposals in the General Assembly to allow slot machines at tracks. [...]

“This agreement recognizes a two-step process,” [Casino Queen President Jeff Watson] said. “The first step was reaching an agreement and the second step is working with our legislators to craft a gaming bill that ensures the success of both companies while generating much-needed tax revenue for the state of Illinois and local communities.” [...]

State Sen. James Clayborne, D-Belleville, said he is hopeful legislation can be passed to complete the deal.

The last gaming bill floated in 2014 cut Fairmount Park out of the slots at tracks provision after demands from the Queen.

Your thoughts?

posted by Rich Miller
Tuesday, May 26, 15 @ 12:26 pm

Comments

Went to a casino and a horse race broke out.

Comment by Anonymous Tuesday, May 26, 15 @ 12:30 pm
Hmmm. If you can’t beat ‘em, join ‘em.

Comment by Blago's Hare Tuesday, May 26, 15 @ 12:31 pm
“You buy me out? I buy YOU out…”

Consolidate the competition, make money on both ends.

Makes sense.

Comment by Oswego Willy Tuesday, May 26, 15 @ 12:31 pm
Slots at tracks seems like the lowest of low-hanging revenue fruit. Pass it already, with provisions to be sure the dough is spread around to the trainers, track workers, etc. Everybody ought to get a piece, not just the track owners. Increase the purses so breeders/owners have an incentive to bring top horses to Illinois tracks.

It could be win-win, but then again, TII.

Comment by 47th Ward Tuesday, May 26, 15 @ 12:33 pm
This makes sense! Just like the racinos in other states! I think a casino up near Chicago should do the same with Balmoral and Maywood also. Its amazing how the casino would change their tune if they held an interest in the track.

Comment by Coach Tuesday, May 26, 15 @ 12:35 pm
Rational act.

Comment by steve schnorf Tuesday, May 26, 15 @ 12:44 pm
Mixed feelings on this one.

Fairmont has been slighted in many ways over the years with dates, races and purses being cut back, yet I would still rather drive 50 miles to Fairmont than 60 miles to the Queen. I understand the Queen being opposed to slots last year from a business standpoint, and they prevailed in getting Fairmont excluded last time.

47th Ward is right - the devil is always in the details!

Comment by illini Tuesday, May 26, 15 @ 12:47 pm
I hear that ADM has issued a warning now that, unless they get slots at all their grain elevators throughout the state, they could go belly-up due to declining profits and all the elevators will close and move to locations just over the state lines! Let’s give them slots too! (He said sarcastically…)

Comment by Roadbuilder Tuesday, May 26, 15 @ 1:18 pm
Makes a lot of sense…now on to slots at the Fairgrounds

Comment by Anonin' Tuesday, May 26, 15 @ 1:22 pm
Sounds like a good plan to me. Both venues stay open, with jobs at both places remaining. And taxes collected by the state will continue coming in. A no-brainer to approve. Therefore, it probably won’t happen unless the governor get his Turnaround Agenda passed.

Comment by Big Joe Tuesday, May 26, 15 @ 1:24 pm
Makes sense. Let’s hope now the Illinois legislature will make the common sense move to expand gambling at our horse tracks.

Comment by Anonymous Tuesday, May 26, 15 @ 1:26 pm
Sounds good to me, but then, I’m not a gambler anyway…

Comment by downstate commissioner Tuesday, May 26, 15 @ 1:31 pm
Casino Queen has been losing money. Fairmont is losing money. Eliminate the competition. Look for Fairmont to be sold, after the sale. What is the property worth, without a race track?

Comment by Apocalypse Now Tuesday, May 26, 15 @ 1:42 pm
Let ‘em merge. Lumiere Place (St Louis casino) increased the competition for the Casino Queen.

Comment by Robert the Bruce Tuesday, May 26, 15 @ 1:42 pm
It’s not only about much needed revenue but it’s about JOBS. It’s time.

Comment by Because I said so..... Tuesday, May 26, 15 @ 2:02 pm
Apocalypse could very well have a valid point, and Robert is correct. I can remember when the Metro -East had both Cahokia Downs as well as Fairmont Park ( Cahokia burned in the early ’70’s, and is now a truck stop, if I’m not mistaken ).

I sincerely hope the legislature will make the right decisions ( after all it is all about the $$$$ ) and insure that Fairmont gets the best deal possible to insure its continued ( and hopefully ) expanded operation.

Comment by illini Tuesday, May 26, 15 @ 2:12 pm
What about table games?

Comment by Langhorne Tuesday, May 26, 15 @ 2:23 pm
Apocalypse

I was thinking the other way around. If Fairmont gets slots I could see the queen closing. The Queen isn’t attracting the clientele it used to with the competition across the river. Anymore if the parking lot is full it’s Cardinal fans taking thethe Metro to Busch.

If the track owners get table games it’s over.

Comment by Mason born Tuesday, May 26, 15 @ 2:31 pm
=== “…generating much-needed tax revenue for the state of Illinois and local communities.”

Local communities will benefit from gaming? How’s that working out for E St Louis?

Comment by dupage dan Tuesday, May 26, 15 @ 2:55 pm
===How’s that working out for E St Louis? ===

At least they own their city hall now.

Comment by Rich Miller Tuesday, May 26, 15 @ 2:57 pm
How about buy the track and then move the casino over there? I bet there’s a stream or crick close by.

Comment by In_The_Middle Tuesday, May 26, 15 @ 3:02 pm
150 acres of prime Metro East real estate…level ground probably no contamination except for some lead and asbestos….industrial park? Transportation hub?

Comment by observer Tuesday, May 26, 15 @ 3:55 pm
Rich - when or how did they get their City Hall back? Must gave missed something, but I do remember the City Hall being given to a plaintiff in a civil suit. If this was resolved, I missed it. Help me out.

Comment by illini Tuesday, May 26, 15 @ 3:58 pm
This would make great sense and allow the two Metro East gambling entities to work together to compete against the behemoths across the river. Now, pass the gaming bill and let it happen.

Comment by Reformed Optimist Tuesday, May 26, 15 @ 4:19 pm
==150 acres of prime Metro East real estate…level ground probably no contamination except for some lead and asbestos….industrial park? Transportation hub?==
There’s plenty of level land in that area…flood plain may be an issue.

Comment by Vote Quimby! Tuesday, May 26, 15 @ 4:27 pm
To the post, on a recent trip back to Illinois I stopped at a Huck’s gas station in Caseyville…maybe 5 miles from the track. They had video poker THERE, so why not at a racetrack? Otherwise, I can’t see Fairmont being open within three years.

Comment by Vote Quimby! Tuesday, May 26, 15 @ 4:29 pm
Quimby, you are right - this would be a prime location for an alternative use, and, it is true, there are many businesses that do have the video gaming machines very close to the racetrack

Comment by illini Tuesday, May 26, 15 @ 5:36 pm
Isn’t this the kind of corrupt bargain our Governor has been talking about? Slots for me but not for thee unless I get to buy you out.

The demographic at the racetrack is as old as that of Fox News. Slots and other machines won’t revive the patient they will only delay the inevitable.

Comment by Johnny's in the Basement Tuesday, May 26, 15 @ 5:42 pm
I’m not an expert on gaming per SE, but know a bit about real estate and that market. I don’t think they bought the track for the land. It’s relatively inaccessible from the Interstates, may be in the flood plain as suggested elsewhere, and there is no shortage of ground in the immediate area.

Comment by Arthur Andersen Tuesday, May 26, 15 @ 7:03 pm
Is the East St. Louis casino controlled by the Bidwill family? The family formerly owned Sportsman’s Park in Cicero, which folded after an attempt to convert the facility into a motor speedway/horse track. The family also owned the Chicago/St. Louis/Arizona Cardinals NFL franchise.

Not bad work for the heirs of a former state representative during the McKinley administration era.

Comment by Under Further Review Tuesday, May 26, 15 @ 8:12 pm
You are a little confused on your Bidwills–Charles Bidwill Owned the Chicago Cardinals pro football team for several years and after his death the team moved to St Louis and Then Arizona and was owned by his sons Bill And Charles Jr. Charles Sr’s younger brother Arthur was an Illinois State Senator from 1936 until 1972–long after President McKinley was assassinated but Charles Jr did own the Chicago racetracks.

Comment by Hawkeye in Illinois Tuesday, May 26, 15 @ 10:53 pm
BTW the Koman Family Of St. Louis sold the Casino Queen to its employees under an ESOP in 2012

Comment by Hawkeye in Illinois Tuesday, May 26, 15 @ 10:57 pm
== It’s relatively inaccessible from the Interstates==
Not true. It borders 6-lane I-255 and has an exit…less than three miles on I-255 to I-55, I-70 and I-64.

Comment by Vote Quimby! Tuesday, May 26, 15 @ 11:46 pm
As for the demographic of the racetrack have you been to the Queen? A highroller is a grandma with a retirement check. The only people going to the queen are those that lack resources to get to lumiere etc. Especially since lumiere has poker tables.

As for the track you might be surprised the younger growd who comes out for bands and relatively cheap beer and food.

Comment by Mason born Wednesday, May 27, 15 @ 5:27 am
Boy did this come out of the blue. Arlington Park was making noises about a full-blown casino a few days ago, could Queen now try to get the same for Fairmount? Sadly, the ball is now in the court of the dysfunctional state government.

Comment by Collinsville Kevin Wednesday, May 27, 15 @ 6:57 am
Gambling’s bad for the community, across the board.

Comment by Tom Joad Wednesday, May 27, 15 @ 10:15 am