The new owners of Hollywood Park have given their 600 employees termination notices. Since 2009, city officials have been touting a $2-billion revitalization plan that will transform the historic racetrack into a retail and residential complex. The new project, called Hollywood Park Tomorrow, will incorporate the existing Hollywood Park Casino. Horse racing will be replaced with a shopping and entertainment district. Additional plans call for a 25-acre park, including a lake and a waterfall.