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A federal bankruptcy court has approved the $90 million sale of Hawthorne Race Course, bringing live horse racing at the historic Chicago-area venue to an end and requiring residents and horses on the backstretch to leave by August 31.
Allimac 2023 LLC, a Delaware-based real estate company, will purchase the 107-acre property in Stickney and plans to redevelop the site. The transaction is expected to close on September 1 or September 2.
Hawthorne filed for Chapter 11 bankruptcy protection on February 27, 2026, after accumulating more than $100 million in secured debt. A July auction produced a $90 million “stalking horse” offer from the buyer.
Although roughly 70 offers emerged during the process, an attorney representing Hawthorne told Judge Timothy Barnes that the sale attracted only one “qualified bid”. The track had sought a buyer willing to retain racing operations.
Final Races Held Before Court Approval
Hawthorne staged its final Thoroughbred programme on July 19, 2026. Standardbred racing had already ended at the property on December 27, 2025. The Illinois Racing Board later cancelled another scheduled Thoroughbred card.
As reported by NBC 5 Chicago, the Illinois Thoroughbred Horsemen’s Association said it does not expect racing to resume at the course. Horsemen also remained unpaid for purse money earned during the final July programme and the two preceding Sundays.
Several hundred people and horses still based on the backstretch must leave the property by 4 p.m. on August 31. The order affects approximately 500 workers and family members who live at the site.
W.E. O’Neil Construction, one of Hawthorne’s secured creditors, will provide $450,000 to charities associated with the Illinois Thoroughbred Horsemen’s Association “for the expressed purposes of assisting the Backstretch Community . . . and horses.”
The construction company is owed $7.7 million after beginning demolition of Hawthorne’s grandstand in 2020. That work formed part of a proposed casino development intended to support both Thoroughbred and Standardbred racing.
The Illinois Gaming Board had granted preliminary approval for a casino licence, though demolition stopped in 2021 because of financial difficulties and never resumed.
Hawthorne Calls Sale a Major Loss
The Carey family has owned Hawthorne for more than a century. The track described the approved sale as a “tremendous loss” for racing employees, horsemen and fans.
“Hawthorne is the oldest sporting venue in Illinois for the oldest sport in America,” the statement read, in part. “The Court-approved sale of our property is a tremendous loss for all Illinois sports fans and especially for everyone who has dedicated their lives to working within this proud and historic industry. However, this does not yet mark the end of Hawthorne as a business…”
Tim Carey, Hawthorne’s president and chief executive, also stated that “this does not yet mark the end of Hawthorne as a business,” according to the written announcement.
The sale covers the real estate and does not immediately eliminate Hawthorne’s remaining wagering business. The company plans to continue operating its network of 12 off-track betting locations.
“We will continue to host intertrack wagering at our network of betting bars and we will absolutely explore every available option to once again host racing.”
Those operations can continue only until the end of 2026, when Hawthorne’s licence to operate a racetrack expires.
Hawthorne also said it would consider “every available option” for bringing back live racing at another location.
“We are committed to this effort because we share the relentless dedication of our employees, horsemen and fans, for whom we are forever grateful,” it added.
Chicago Racing Presence Disappears
The sale leaves the Chicago metropolitan area without an operating horse racing track. Five tracks served the region around the beginning of the century, though closures and property sales steadily reduced that number.
Sportsman’s Park, Maywood Park and Balmoral Park had already closed. Churchill Downs sold Arlington Park to the Chicago Bears rather than developing a racino after Illinois approved expanded gambling legislation in 2019.
That legislation allowed racetracks to install slot machines and was viewed as a possible financial lifeline for the racing sector. Hawthorne planned to use casino revenue to preserve racing, though its racino project remained unfinished.
The bankruptcy sale now transfers the property to a buyer focused on redevelopment. Hawthorne will retain its corporate identity and wagering bars temporarily, while its ability to host racing again depends on finding another viable location and resolving future licensing requirements.