Chicago’s Last Racetrack Is Buried in Debt and Running Out of Time
Hawthorne has some $25 million in arrears and is struggling to pay out prize money
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Welcome to The Brink. I’m Miranda Davis, and I’ve been following the financial woes of Chicago’s last horse-racing track. We also have news on Nochu, Raízen, and pressures in the leveraged loan market. Follow this link to subscribe. Send us feedback and tips at debtnews@bloomberg.net.
Horse racing was never really a glamorous business at Hawthorne Race Course. Built in 1891, it’s a hardscrabble, little track tucked into an industrial zone just outside Chicago, a companion venue to the more chic Arlington Park on the city’s north side.