Freehold Raceway, America’s oldest horse racetrack, will close after 170 years due to declining attendance and failed attempts to secure a casino. However, there is optimism for the future of horse racing, driven by increased legal online sports gambling and new investor interest. In 2023, horse racing contributed over $36 billion to the U.S. economy. High-profile events like the Kentucky Derby are gaining traction, attracting younger audiences through innovative wagering options. Despite challenges like outdated facilities and regulatory struggles, industry leaders believe improvements and a focus on fan experience could stimulate a resurgence in the sport.
