In 1937, he took over management of the Connaught Park Racetrack, a horse race track in Aylmer QC, near Ottawa, of which he had been a part-owner since 1925. Gorman was managing the race track when he died of cancer at a hospital in Ottawa at the age of 74. He was the last living founder of the NHL. He has been inducted into the Hockey Hall of Fame (1963), the Ottawa Sports Hall of Fame (1966), and the Canadian Horse Racing Hall of Fame (1977).