The Freehold Raceway is the oldest horse racing track in the US. However, it announced it will permanently close its doors on December 28. Thus, many horse bettors are calling it the end of an era. Officials said that shutting down the track was brutal. However, they can’t continue operating under the present conditions.
According to sportsbook pay per head tutorials and news sites, Freehold Raceway is unrivaled in experience and history regarding daylight half-mile harness racing. The track held its first horse races in 1830. In 1854, the Monmouth County Agricultural Society held a yearly harness racing event at Freehold, making it an official horse racing track. In 1998, Greenwood Racing and Penn Entertainment partnered to buy the track. The former owns the Parx Casino and Racing in Pennsylvania.
Thanks to its lengthy history, Freehold has become an integral part of American racing culture and is well-loved by many fans of the sport. However, the racetrack had to close its doors because it could no longer endure the financial strain of running the facility.
Closing of Freehold Raceway, a Loss for the Community
Officials in Freehold have announced that starting on December 28, 2024, the racetrack will no longer host live or simulcast racing. According to the racetrack, track administrators alerted all impacted stakeholders and staff.
Freehold Raceway’s general manager, Howard Bruno, had some words on the officials involved. He called the choice to shut Freehold extremely difficult, citing the track’s cultural and historical significance to the area and the state of New Jersey’s horse racing business. But Bruno said that the track’s financial model is now unsustainable and that management cannot see a way to keep going. You might profit from bingo more than running the horse racing track.
According to the notice, races will continue at Freehold Raceway until the official closing date. This allows the 2024 authorized live racing schedule to be finalized, and daily simulcasting can proceed as planned.
Meanwhile, to finish the closing process, officials from Freehold are working closely with those from the New Jersey Racing Commission, state and local officials, and business stakeholders. Under the Worker Adjustment and Retraining (WARN) Act of New Jersey, the racecourse has decided to pay severance to its employees.
Other Horse Racing Tracks in New Jersey
Since 2001, three horse racing tracks in New Jersey have closed their doors, with Freehold Raceway being the third. After 58 years, Cherry Hill’s Garden State Park ceased holding harness and thoroughbred racing in 2001. Mays Landing’s Atlantic City Race Course ceased operations in the new year. The first thoroughbred race held in the track was in 1946.
According to data from the New Jersey Racing Commission’s annual report, Freehold Raceway had a total handle of $64.3 million during 90 days of racing in 1999, the first year Pennwood was owner. The on-track handle was $18.6 million. What will happen to the property now is anybody’s guess.
Until October 12th, Freehold will race on Thursdays, Fridays, and Saturdays. From then until December 28th, the track will run on Fridays and Saturdays. The $60,000 Renaissance is featured on Saturday’s 12-race schedule at Freehold, which contains $159,700 in purse money.
During 42 days in 2023, the track’s total handle was $13.78 million, while the on-track handle was $1.25 million. Although the legalization of sports betting in 2018 meant that any racetrack in the state could launch a sportsbook, Freehold waited until late 2020. The track’s sportsbook was shuttered last month, just before the start of the football season.
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