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Aqueduct Racetrack to Close June 28 After 132 Years
New York State approved a $455 million loan to consolidate live horse racing at Belmont Park. The Aqueduct, a South Ozone Park track opened in 1894, will end operations on June 28. Attendance and betting on horse racing have declined nationally since 2000.
Jul 21, 3:09 PM·1m read1 source
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New York State approved a $455 million loan to consolidate live horse racing at Belmont Park. The New York Racing Association received the loan as part of a state agreement to move racing to a renovated Belmont Park designed for winter use and a higher-end audience. The track has offered free admission, cheap beer, and subway access, drawing regular bettors from across New York City.
More than forty U.S. tracks have closed since 2000.
Data from Equibase showed horse racing accounted for $11 billion of the $166.94 billion bet on sports in the United States in 2025. NYRA President and CEO David O'Rourke said ticket sales for the renovated Belmont Park exceed previous figures and that profit-sharing with attached casinos is a standard arrangement.
He added that state subsidies also support New York's agricultural sector, where horse racing ranks second after dairy.
Wrongs said industry studies overstate job numbers and that Pennsylvania has directed more than $3 billion in subsidies to racing while cutting education funding. Former Pennsylvania Governor Tom Wolf attempted to redirect those funds without success.
Sharon Ward, a policy expert who worked for Wolf, described the spending pattern as unsustainable. Skip Bedsole, a regular at the Aqueduct, questioned who the new Belmont Park is intended to serve.
