HAZEL PARK, Mich. – Hazel Park Raceway has informed employees that they are shutting down operations.

A sign posted to a window at the track reads: "After nearly 70 years, Hazel Park Raceway is closing effective April 5, 2018. We want to express our heartfelt appreciation to our employees, visitors, supporters and long-standing community partners."

The racing facility stopped allowing horses in on Wednesday and informed staff on Thursday of their plans to close. The Hazel Park Raceway workforce includes approximately 90 employees.

The raceway has entered into an agreement to sell its assets.

“Over the past 25 years, the gaming industry has dramatically changed throughout the country. Clearly, this has had a significant impact on the proud tradition of horseracing throughout Michigan. For nearly 70 years, Hazel Park Raceway has appreciated the hard work and support of both employees and fans, as well as the economic and entertainment value this venue has brought to the community,” said Hazel Park Raceway.

Opening Day had been scheduled for May 4. Simulcast betting will also end with the closing.

The raceway had been open since 1949 and was the only thoroughbred racing track in the state.

Northville Downs is now the only remaining horse racing track in Michigan.

Check back for updates on this developing story.

Here's a look at the raceway: