Horse racing set for a resurgence in the U.S. [Video]

America’s oldest horse racetrack is closing after running its last race on the final weekend of 2024. 

Freehold Raceway in New Jersey, co-owned by Penn Entertainment, tried for decades to land a casino but failed. Like many tracks around the nation, it grappled with declining attendance and revenue. It had been operating for more than 170 years.

“Unfortunately, the operations of the racetrack cannot continue under existing conditions, and we do not see a plausible way forward,” said Howard Bruno, the racetrack’s general manager, in a news release announcing the closure.

But industry insiders, investors and other enthusiasts believe horse racing in the United States could be poised for a resurgence — fueled by new investor interest, innovations in the sport and a boom in legalized online sports gambling. 

In …