Hawthorne Race Course Files for Bankruptcy After Years of Financial Strain

The 135-year-old racetrack seeks to restructure debt and attract new investment to save jobs and the state's horse racing industry.

Feb. 27, 2026 at 11:29pm

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Hawthorne Race Course, a historic racetrack in Chicago, has filed for Chapter 11 bankruptcy in an effort to restructure its debt, save dozens of jobs, and rescue the struggling horse racing industry in Illinois. The track has faced years of financial difficulties, including the suspension of its harness racing license and an inability to open the season due to failure to secure surety bonds. Hawthorne is seeking to reorganize, find a buyer or investor, and restart operations.

Why it matters

The bankruptcy filing by Hawthorne Race Course, the last remaining racetrack in the Chicago area, highlights the ongoing challenges facing the horse racing industry in Illinois. The closure of Arlington International Racecourse in 2021 left Hawthorne as the sole venue for both thoroughbred and harness racing, putting significant strain on the track's operations and finances. The bankruptcy filing raises concerns about the future of horse racing in the state and the potential impact on the livelihoods of industry workers and horsemen.

The details

Hawthorne Race Course filed for Chapter 11 bankruptcy in an effort to restructure its debt and find a buyer or investor to recapitalize the company and restart operations. The track has faced a series of setbacks, including the suspension of its harness racing license, an inability to open the season due to financial difficulties, and ongoing challenges with its plans to open a new casino, or 'racino,' at the track. The bankruptcy filing is aimed at maximizing recovery for creditors, paying accrued purses to Illinois horsemen, and meeting payroll obligations for the track's over 250 employees.

  • Hawthorne Race Course filed for Chapter 11 bankruptcy on Friday, February 27, 2026.
  • The Illinois Racing Board suspended Hawthorne's harness racing license due to its financial difficulties.
  • Hawthorne was unable to open the first weekend of the year because it failed to get surety bonds.
  • A month ago, Hawthorne officials said they were close to a financing deal for a new casino, an option that has long been on the table but has struggled to see it through.
  • In November, the state Senate gave bipartisan support for a bill to rescind Hawthorne's veto power over a new track in Decatur and allow for that proposal to move forward.

The players

Hawthorne Race Course

A 135-year-old racetrack in Chicago that has filed for Chapter 11 bankruptcy in an effort to restructure its debt and find a buyer or investor to restart operations.

Tim Carey

The president and CEO of Hawthorne Race Course, who stated that filing for reorganization is the right thing to do for the Illinois horsemen and the track's employees and their families.

Chris Block

The board president of the Illinois Thoroughbred Horsemen's Association, who expressed concern that Hawthorne's bankruptcy could lead to a 'catastrophe' for the state's thoroughbred racing industry.

Tony Somone

The executive director of the Illinois Harness Horsemen's Association, who claimed that Hawthorne owes the horse operators almost $700,000 in racing entry fees and a state grant.

Churchill Downs Inc.

The company that closed Arlington International Racecourse in 2021, leaving Hawthorne as the only racetrack in the Chicago area.

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What they’re saying

“This is a difficult day. Yet, filing for reorganization is the right thing to do for the Illinois horsemen and for our employees and their families.”

— Tim Carey, President and CEO, Hawthorne Race Course (Hawthorne Race Course press release)

“My greatest fear would be that they would start the meet only for Hawthorne to go bankrupt and close. That would be a 'catastrophe,' because it would be too late for owners to race elsewhere this year.”

— Chris Block, Board President, Illinois Thoroughbred Horsemen's Association (Chicago Tribune)

“This money … is how we pay our bills. Not only the feed man and the vet but how we pay our mortgages, how we make our car payments. This is what we use to live on.”

— Tony Somone, Executive Director, Illinois Harness Horsemen's Association (Chicago Tribune)

What’s next

Hawthorne Race Course hopes to appear in federal bankruptcy court in Chicago next week to secure debtor-in-possession financing to fund its restructuring.

The takeaway

The bankruptcy filing by Hawthorne Race Course, the last remaining racetrack in the Chicago area, underscores the ongoing challenges facing the horse racing industry in Illinois. The closure of Arlington International Racecourse in 2021 and Hawthorne's financial difficulties have put the future of the sport in the state in jeopardy, raising concerns about the livelihoods of industry workers and horsemen.