Freehold Raceway — the oldest operating racetrack in the country — is ceasing all live racing and simulcast operations at the end of the year, racetrack officials announced Thursday.

The last day at the horse-racing track in Monmouth County will be Dec. 28. New Jersey’s other tracks — Monmouth Park and the Meadowlands — are not affected by the closure.

“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,” said Howard Bruno, the raceway’s general manager.

“Unfortunately, the operations of the racetrack cannot continue under existing conditions, and we do not see a plausible way forward,” he said. “We are incredibly thankful for our dedicated employees, horsemen and fan base for their support and patronage for so many years.”

Freehold is jointly owned by Penn Entertainment and Greenwood Racing.

Track officials notified employees and stakeholders earlier on Thursday, officials said.

The remainder of the approved live racing schedule for 2024 will be completed, officials said. Daily simulcasting will continue until the closure date in December.

“Freehold officials are working proactively with the New Jersey Racing Commission, state and local officials, and industry stakeholders on all necessary items related to the closure of the facility,” track officials said.

Employees will be paid severance, including compensation as required by the state, and any applicable collective bargaining agreements, track officials said.

Freehold Borough Mayor Kevin Kane blamed track officials for the closure.

Officials heard “persistent rumors” the raceway was in trouble, but the rumors were confirmed Thursday, the mayor said in a statement.

The raceway has “no clear prospects for the future,” he said.

“The Raceway has a long and storied history in the Borough of Freehold but, faced with declining interest in standardbred harness racing, the raceway’s fortunes went into a long, slow decline,” said Kane. “Management seemed disinterested in promoting or marketing the venue and failed to capitalize on the advent of sports betting in New Jersey.”

“The facility had become shopworn and dated with little capital improvement to attract new customers,” he said. “Attempts to meet with management to discuss promotional opportunities, band nights, car shows and other event-based strategies designed to get new customers into the facility were rebuffed.”

Freehold officials are hopeful an interested buyer “might emerge” to continue operating the track, but are otherwise “planning for the future by conducting a redevelopment study of the properties involved to determine the highest and best use for property.”

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