Drumbo Park greyhound stadium in Lisburn has closed with immediate effect, resulting in the loss of 44 full-time and part-time jobs.
Directors say the business – which had been operational for 10 years - is no longer sustainable, citing a number of factors.
A statement said that issues included “a shortage of greyhounds to provide a full race programme, the impact of online gaming on live racing, and Northern Ireland’s restrictive licensing laws preventing the sale of alcohol at the track on a Sunday”.
The statement added: “In addition, unlike the greyhound racetracks in the Republic of Ireland, Drumbo Park received no government funding.
“In the past two years, the directors invested substantial resources in an effort to turn the business around, but a decision had to be taken that it was no longer viable.”
The staff – 14 full-time and 3 part-time – were informed on Friday morning.