FREEHOLD, N.J. (AP) – Freehold Raceway, the oldest horse racing track in the United States, is shutting down at the end of the year.

Track officials made the announcement Sept. 19 after a meeting with employees.

Horse racing has been conducted at the half-mile track in central New Jersey since the 1830s. Harness racing become the staple when The Monmouth County Agricultural Society was formed late 1853, and it held harness racing the following year at an annual fair at Freehold Raceway.

“This was an extremely difficult decision, especially given the historical importance of Freehold Raceway to the local community and the New Jersey horse racing industry,” track general manager Howard Bruno said in a statement. “Unfortunately, the operations of the racetrack cannot continue under existing conditions, and we do not see a plausible way forward. We are incredibly thankful for our dedicated employees, horsemen and fan base for their support and patronage for so many years.”

Bruno said the track will continue racing the rest of the year and cease live racing and simulcast operations on Dec. 28.

The main building of the track was destroyed by a fire in 1984. Using tents, racing continued the next two years before a new building opened in 1986.

Freehold was acquired in 1998 by a joint venture of Penn National Gaming and Greenwood Racing, which also owns Parx Casino and Racing in Bensalem, Pa.

Freehold Raceway is the third horse racing track in New Jersey to close since 2001. Garden State Park in Cherry Hill, which held thoroughbred and harness racing, closed in 2001 after 58 years of operation. Atlantic City Race Course in Mays Landing closed in January 2016. The thoroughbred track had opened in 1946.