After decades in business, Sunday will be the final day of racing at the Truro Raceway.

The track is almost $1 million in debt, and during an emergency meeting Monday, the decision was made to pull the plug on harness racing.

Steve Morton, who works at the Raceway, estimates as many as 150 people will be out of work Monday morning. He said dozens of students and local businesses are connected to the track, including 100 horsemen and women.

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Horses won't even be allowed to jog around the track next week. (CBC)

"What does this mean? Devastation, millions of dollars lost," said Morton. He said all the horses have to be removed by Aug. 15 and water and electricity will be shut off at the track.

Next week, horses will no longer be allowed to jog around the Raceway.

Darren Crowe has owned and raced horses at the Raceway for two decades.

"I haven't done anything else for the last 22 years," he said. "This is all I know."

Crowe, like many others, wasn't shocked by the news. But he's still hopeful someone will come to their aid.

"I would hope that it will turn around."

"I think the situation could be resolved with certain people's help. Maybe the government, businessmen that want to jump on board," said Norm Atkinson, who also works at the Raceway. He said there's too many ways to gamble now, and the golden age of harness racing is over.