Hawthorne Race Course filed for Chapter 11 bankruptcy on February 27, aiming to reorganize and preserve horse racing in Illinois along with 250 jobs and the homes of hundreds of backside workers and their families. The reorganization plan prioritizes paying accrued purses to horsemen and payroll for employees while restructuring debt to attract buyers or investors to recapitalize and restart operations. The track has faced financial struggles since 2019 after plans to build a casino fell through, leading to canceled harness racing and license suspensions by the Illinois Racing Board due to unpaid bills and financial instability.

Despite being the last racetrack operating in Northern Illinois and supporting the local horse racing industry, Hawthorne has been burdened by rising costs, regulatory fees, and competition from casinos and sports betting. The bankruptcy filing highlights the human impact, noting the racetrack supports hundreds of families living on-site rent-free and provides medical care. Hawthorne hopes to secure debtor-in-possession financing to maintain operations, reactivate wagering revenue streams, and complete the racino project, with significant interest from potential buyers and investors to maximize the track’s value.