Freehold Raceway Up For Potential Redevelopment Amid Sudden Closure

FREEHOLD, NJ — Freehold Raceway may be up for redevelopment following news of the Raceway ending operations on Dec. 28, Freehold Borough Mayor Kevin Kane said.

According to Kane, the Freehold Borough Council is planning to conduct a redevelopment study of the Raceway to determine the "highest and best use" for the property.

The raceway, which has been operating since 1853, has seen a steady decline in part due to decreased interest in standardbred harness racing.

Kane said they had been hearing persistent rumors that the Freehold Raceway was in trouble before employees were notified Thursday morning that the track would be shutting down.

He said borough officials tried on many occasions to meet with Raceway management to discuss promotional opportunities, band nights, car shows and other event-based strategies designed to bring new customers to the track. According to Kane, these attempts were "rebuffed."

"Management seemed disinterested in promoting or marketing the venue," Kane said. "The facility had become shopworn and dated with little capital improvement to attract new customers."

He said that a combined lack of interest in harness racing and the track’s “failure to capitalize on the advent of sports betting in New Jersey” doomed it.

New Jersey became one of the first states outside Nevada to legalize sports betting in June 2018. The Meadowlands Racetrack and Monmouth Park both hold sports betting seven days a week.

Kane said borough officials are hopeful that an interested buyer may emerge and continue operating a standardbred harness racing track on the property.

“Going forward, there is an opportunity for significant new investment in the Borough,” Kane said.

In a statement posted on Thursday, Freehold Raceway General Manager Howard Bruno said deciding to close the track was difficult.

“This was an extremely difficult decision, especially given the historical importance of Freehold Raceway to the local community and the New Jersey horse racing industry,” Bruno said. “Unfortunately, the operations of the racetrack cannot continue under existing conditions, and we do not see a plausible way forward.”

The remainder of 2024’s approved live racing schedule and daily simulcasting will continue as planned through the track’s closure date, Bruno said.

According to Bruno, Freehold Raceway officials are working with the New Jersey Racing Commission, state officials, local officials and industry stakeholders on necessary items related to the track’s closure.

Severance will be paid to employees, Bruno said, including compensation and any applicable collective bargaining agreements.

“We are incredibly thankful for our dedicated employees, horsemen and fan base for their support and patronage for so many years,” Bruno said.

Freehold Raceway is located at 130 Park Ave, Freehold.

Related:

• Freehold Raceway To End Operations In December