Chicago Horse Racetrack Files for Bankruptcy as Debt Piles Up

Hawthorne Race Course Inc. filed for Chapter 11 bankruptcy protection in Chicago on Friday after months of complaints that checks were bouncing and purse money was going unpaid to the owners of winning horses.

In its petition, the company estimated assets of $50 million to $100 million and liabilities of $100 million to $500 million.

Hawthorne, founded in 1891, is the last remaining racetrack in northern Illinois after Arlington Park closed in 2021. Its inability to cover purses helped prompt Illinois regulators to suspend its license to conduct harness racing last month. The filing underscores strains across US horse racing ...