The shuttered Derby Lane racetrack that continues to operate a poker room | goOGLE sTREETVIEW

Spanning 130 acres along Gandy Boulevard, the shuttered Derby Lane greyhound racetrack has a new owner. The St. Pete Kennel Club Inc., which owns the property, has merged with Connecticut-based Rally Acquisition Co.

“The goal is to develop the 130-acre site in a way that benefits the community, while continuing the strong performance of the club’s gaming operations,” said Scott Esterbrook, an attorney representing Rally Acquisition, in an interview with the Tampa Bay Times, which first reported the news.

While specific redevelopment plans for the site at 10490 Gandy Boulevard North have not been disclosed, the new ownership recently secured a $58.25 million loan from Broadway Agency Services LLC.

First opening on January 3, 1925, Derby Lane in St. Petersburg was the world’s oldest greyhound track and even appeared in several movies and TV shows.

Since its opening in 1925, the racetrack would draw thousands of spectators | derby lane facebook image

Today, 100 years later, the once-iconic quarter-mile oval is now just a grassy field—a fading remnant of what was the nation’s oldest continuously operating greyhound track until Florida voters approved a 2018 constitutional amendment banning greyhound racing by 2020.

While live races no longer take place, part of the property remains active. A building on-site continues to house a poker room with a full bar and kitchen, offering live-action poker tournaments, Vegas-style table games, and simulcast wagering on greyhound and horse races.

According to the owners' website, guests can watch and place bets on races from South Florida to New York, California, and Mexico—all the way to the UK and Australia.

While the poker room remains in operation, much of the property sits unused. The expansive parking lot—covering much of the 130-acre site—is currently leased to Amazon, which uses it as a staging area for delivery trucks.

Inside a poker room at derby lane | derby lane

Louise Weaver, Derby Lane’s vice president and track historian, has previously said that past talks with potential developers fell through due to concerns over zoning restrictions and limitations on what could be built.

The property is currently zoned for stadium use. Any plans involving hotels, commercial buildings, or other non-stadium-related structures would require a zoning change.

Derby Lane has also long been the subject of speculation as a potential site for a new Tampa Bay Rays baseball stadium. While no official plans have ever been confirmed, the property’s size, location, and existing stadium zoning have kept it in the conversation over the years as the team continues to evaluate long-term stadium options.

A potential redevelopment of the site could include new residential housing, retail space, and public green areas.