Garden State Park closed in 2002, and was razed shortly thereafter. The new partnership, called Pennwood, was expected to pursue off-track and account wagering in New Jersey. Late in 1998, Greenwood joined with fellow Pennsylvania corporation, Penn National Gaming, Inc., in expanding into New Jersey with the purchase of Freehold Raceway in Freehold Borough and the operating lease of Garden State Park in Cherry Hill. Full card simulcasting was added, as well as six off-track locations called Turf Clubs, allowing race fans to watch and wager seven days a week.

In December 1990, the racetrack again changed hands when Greenwood Racing, Inc., a corporation founded in 1989 by British bookmaking veterans Bob Green and Bill Hogwood, purchased the oval from ITB. When the track was purchased in 1984 by ITB, the racetrack received a new name, Philadelphia Park, a new turf course, and an innovative new way to wager called Phonebet. Originally called Keystone Racetrack, it opened in November 1974 in Bensalem, Pennsylvania, replacing the Liberty Bell Park Racetrack in Northeast Philadelphia as the area's Thoroughbred track. History Philadelphia Park (now Parx East) July 2006 Parx also offers online gambling and online sports betting along with off-track betting at two locations.

Owned and operated by Greenwood Gaming and Entertainment, Inc., Parx features 24-hour gaming with over 3,200 slot machines, 188 live table games, a poker room with 48 poker tables, live racing and simulcast action, sports betting, several dining options and bars, and the Xcite Center. Parx is located in Bensalem Township in Bucks County, northeast of the city of Philadelphia. Parx Casino and Racing (formerly Philadelphia Park Racetrack and Casino) is a Thoroughbred horse racing venue and the largest casino gaming complex in Pennsylvania.

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