When the track was purchased in 1984 by ITB, the racetrack received a new name, Philadelphia Park, a new turf course, and an innovative new way to wager called Phonebet.

In December 1990, the racetrack again changed hands when Greenwood Racing, Inc., a corporation founded in 1989 by British bookmaking veterans Bob Green and Bill Hogwood, purchased the oval from ITB.

Full card simulcasting was added, as well as six off-track locations called Turf Clubs, allowing race fans to watch and wager seven days a week.

Simulcasting on cable broadcasting systems (notably those owned by Comcast) was discontinued in March 2010, and shortly replaced by Comcast with TVG Network, who later joined with Harrah's Chester to bring their own simulcasting betting accounts in October 2010.

Over the years, such notable horses as Shuvee, My Juliet, Spectacular Bid, Revidere, Summer Squall, and Broad Brush found their way to the winner's circle at Parx Racing and Casino.

The Jockeys' Guild said that the waiver contained language "inconsistent with the laws of Pennsylvania" and it would instruct its members against signing it.

The event was previously held in Tampa Bay Downs, Indiana Grand, and Gulfstream Park.

[2] On March 19, 2018, a major accident occurred during the 9th race, in which hall of fame jockey Jose Flores was sent to a hospital following the incident.

The Pennsylvania Derby is a 1.125 miles (1.811 km) (nine furlongs) race for three-year-olds that has consistently attracted quality fields and large crowds.

Over the past few years, it has evolved into a three-day festival that lasts all of Labor Day weekend at the racetrack, culminating with the running of the Derby.

The main grandstand's lower floor was reconstructed back into a horse racing facility in September 2010.

[4] On September 27, 2006, the racetrack was awarded a conditional slots license by the Pennsylvania Gaming Control Board, allowing construction to begin on the casino.

Final approval of a permanent license came on December 20, 2006, and the following day the casino opened on in temporary space on the first and third floors of the racetrack.

[8] Parx East, featuring card games, held its ribbon cutting ceremony on December 22, 2010.

[11] The Pennsylvania Gaming Control Board approved a sports betting license for Parx on October 3, 2018.

[14][15] The permanent 7,400-square-foot (690 m2) sportsbook opened on August 8, 2019, which consists of a 156-foot (48 m) HD media wall that can show 36 games at once, 200 seats, a bar, 3 VIP areas, 6 teller windows, and 18 automated kiosks.

On June 24, 2024, Parx announced that it has purchased the Inn at Fox Chase, a 167-room hotel adjacent to the casino, which it plans to renovate and rebrand within the next year.