Hollywood Park, site of the inaugural Breeders' Cup in 1984, will not seek racing dates for 2014. The historic track will conclude its place in thoroughbred racing with the 2013 autumn meeting.
Owned by the Hollywood Park Land Company, the track first opened on June 10, 1938 and is currently celebrating its 75th anniversary season.
"Ownership has been upfront from the beginning that the property would eventually be developed unless there were significant changes in the horse racing business," said Betfair Hollywood Park president Jack Liebau. "Despite the Hollywood Park Land Company financially supporting two statewide initiatives with varying degrees of support from other segments of the racing industry, the attempts to upgrade the business model were not successful.
"From an economic point of view, the land now simply has a higher and better use, so, unfortunately, racing will not continue here once the 2013 Autumn meet is completed."
The current ownership purchased Hollywood Park from Churchill Downs in 2005 and stated at that time to keep the track open a minimum of three years.