Last week’s sudden announcement that Freehold Raceway would be closing at the end of the year shocked the local and horse racing community.

Losing the nation’s oldest existing horse racing facility will have an impact far outside the Freehold borders, according to people familiar with the industry.

“If it’s going to work as a racetrack, we need to make sure it’s long-term,” said Freehold Borough Mayor Kevin Kane.

The racetrack will be closing in December. Kane says he learned of the upcoming closure last Thursday morning. Like many others, he wants to see it remain a racetrack. It’s a tough path forward, considering the value of the prime Central Jersey real estate.

“What we are going to do is authorize a redevelopment study on that property to make sure we’re in control of that situation,” Kane said.

“If we lost Freehold Raceway we would probably lose 80% of our business,” said Harry Landy, owner of the Landy family farm and a harness driver. “We would be in the negatives and this farm would not be able to exist the way it does now.”

More than 100 racehorses occupy stables at the Landy family farm in Monroe Township.

“You have blacksmiths, vets, you have hay, feed. These are all stores throughout New Jersey,” said Landy.

“Without Freehold these people are going to be moving, these horses are going to have to be sold. These are pets, these are what people have a passion for it,” said Vinny Ginsburg, a third-generation horse racer and trainer.

Ginsburg says the last thing he wants to see is the track ending up like so many others in New Jersey – housing and strip malls.

“In order for the track to be bought, you’d have to guarantee the sports betting to be back. You’ll want a gaming company to take over the track and do some different things,” said Ginsburg.

“We’re very optimistic. Again, I want to try and keep it as a track if we can,” added Kane.

Freehold Raceway is owned by Penn Gaming and Greenwood Racing, who announced the Dec. 28 closure last week, citing “current existing conditions” and “no plausible way forward.”