Although some events did take place the following year, it wasn't until 1852 that the course enjoyed a second opening. The first contest was called 'The Creole Purse' and came with a prize of $1,000 (a very decent amount at the time). The origins of live racing in the region date back to 1838 when 'Louisiana Race Course' was established by Bernard D Marigny, Henry Augustine Taylor, and Jenny Cameron. The current prize purse stands at $1 million. The most high-profile race to be staged at the track is the Louisiana Derby, which is a Grade II event and is held in late March. The track also holds a number of unrelated events throughout the course of the year, with the New Orleans Jazz and Heritage Festival traditionally staged here. Other facilities at the track include the clubhouse and the grandstand. The configuration of the Fair Grounds track is fairly straightforward, with a one-mile dirt track sitting alongside a seven-furlong oval turf course.

The track also offers simulcasting, which is available all year round at Fair Grounds. The track is partnered with Arlington Park, which is located in Arlington Heights, Ill. It is currently operated by the Churchill Downs Louisiana Horse racing Company, and they have been responsible for the day-to-day running of the venue since 2004. The track regularly hosts thoroughbred racing and also boasts a casino and slots area. It is located in the mid-city area and is approximately 20 miles from New Orleans International Airport. Fair Grounds Race Course & Slots is located in New Orleans and is the third-oldest racetrack in North America.

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