Roosevelt Raceway Owners Say Track Is Near Bankruptcy, to Close Immediately

MINEOLA, N.Y. — Roosevelt Raceway’s owners announced Friday that they were closing the Long Island harness track immediately, saying it is near bankruptcy because of poor attendance and competition from Off-Track Betting and the Meadowlands in New Jersey.

The raceway, a Long Island landmark for nearly a half-century, has lost more than $7 million over the past four years, the owners said.

“We tried everything we could to keep the track open,” said Charles Evans, one of the owners. “We just ran out of money.”

The closing will eliminate 900 jobs, including grooms, stable personnel, clerks, and concessions workers. It will also cost Nassau County about 300 jobs and $3.2 million in off-track betting money, officials said.

The 148-acre facility in Westbury is valued at more than $150 million. Evans said there are no plans to sell or develop the property, which is zoned for commercial use.

Joseph Faraldo, president of the Standardbred Owners Assn., which represents owners, drivers and trainers at the track, charged that the owners were interested in the real estate from the start when they bought it in 1984.