Under the terms of the deal, the company, which operates Bay Meadows in San Mateo, was to continue thoroughbred racing at Hollywood Park for at least three years. In July 2005, Churchill Downs sold the track to the Bay Meadows Land Company for $260 million in cash. The previous owners of the track renamed their company Pinnacle Entertainment to concentrate on its gambling interests. bought the facility for $140 million in 1999. A card club casino was added to the complex in 1994.
In 1986, the turf course was similarly expanded from just over 7/8 of a mile around to 1 mile & 145 ft. In 1984, the race track was extended from 1-mile (1.6 km) around to 1 1/8 miles around prior to the first Breeders Cup race. In 1949, the grandstand and clubhouse were destroyed by a fire the rebuilt facility reopened in 1950. Hollywood Park closed from 1942 to 1944 due to World War II, being used as a storage facility. Harry Warner, Al Jolson and Raoul Walsh were members of the founding Board of Directors and Mervyn LeRoy was a director from 1941 until his death in 1987. Its chairman was Harry Warner of Warner Brothers, and its 600 shareholders included many other Hollywood luminaries, including another Brother brand, Jack Warner.
The racetrack was designed by noted racetrack architect Arthur Froehlich. The track was opened in 1938 by the Hollywood Turf Club.
