Longford Greyhound Stadium says falling attendances and rising insurance costs have led to its decision to close.
Management today announced that the track, which first opened in 1939, will cease operations by the end of this month.
They claim that even if they found the money to pay current bills, it would only be a short term measure "without further financial assistance" from the Irish Greyhound Board (IGB).
The announcement comes only a day after the owners of Lifford stadium in Donegal revealed it would close on August 17th.
Operators of the Lifford stadium said it was not an easy decision to make - citing an "ongoing lack of support from the Irish Greyhound Board".
Paddy Farrington, Manager of Longford Greyhound Stadium, said the industry is going through a difficult period.
He explained: "It's a hard time, and it's a sad time, because it is a great, great industry.
"I can only comment on Longford, but the people who come through the door are a joy to deal with all year round."
Reacting to the Longford closure, the IGB said it "very much regrets" the situation and the impact it will have.
They said: "Support has been provided by the IGB to Longford and other private tracks for a long period of time during significant economic, social and cultural challenges for the industry.
"The particular challenges facing Longford at this time are recognised and the basis of the company’s decision is fully understood."
A review of the 'future needs' of the greyhound industry here is currently being carried out, with the IGB saying it will offer a "far clearer picture regarding the industry footprint in the immediate and long term".
