Historic greyhound track Catford Stadium has closed after years of falling attendances.
Greyhound racing has been held at Catford for more than 70 years
The owner, leisure group Wembley, said the decision was taken with "great regret". Nearly 100 jobs will be lost.
It said the stadium's location made it impossible to redevelop the track to modern standards.
Finance director Mark Elliott added: "Catford did not have the facilities to attract corporate clients, such as air conditioning and waitress services."
Trainers currently based at Catford have been offered contracts at other tracks and dogs will be transferred if the owners wish to race at the new venues.
Catford was founded in 1932 and attracted large crowds until the legalisation of betting shops in 1961, which hit attendances at tracks throughout the country.
The company, which sold Wembley Arena, Conference Centre and Exhibition Halls in August last year, warned another of its London tracks - Wimbledon - was still struggling to attract punters.
But it was optimistic Wimbledon's performance in the second half of the year would be better, although attendances remained disappointing and racegoers' expenditure low.