Freehold Raceway, the oldest racetrack in the nation (1830s), is shutting its doors for good come December. In a statement, Howard Bruno, the track’s GM, said: “Unfortunately, the operations of the racetrack cannot continue under existing conditions, and we do not see a plausible way forward.”
This comes just days after it was announced that NJ’s horseracing subsidies would continue through 2029 at an annual rate of $20 million – of which, $1.6 was allocated for Freehold. In other words, even after having already received millions (the subsidies returned in 2019), and even with the promise of being gifted many millions more, Freehold’s owners (Penn National, et al.) saw their business as a lost cause. And it is, at least based on free-market economics. Harness racing (not to mention most flat racing) has been rejected by the buying public as a cruel relic of a decidedly unelightened past. Only massive corporate welfare – more than what Freehold was receiving – keeps it afloat in other states. But today we celebrate another death – the 47th since 2000.
Progress.
