Speedway Motorsports Agrees to Purchase Kentucky Speedway
Kentucky Speedway, which opened in 2000, hosts one NASCAR Nationwide Series event, one NASCAR Craftsman Truck Series event, one IndyCar Series event and other racing events each year. The speedway is located in Sparta, Ky., approximately one-half hour south of Cincinnati, Ohio. The speedway is easily accessible via modern highways.
Located on approximately 820 acres, Kentucky Speedway features a 1.5-mile tri-oval speedway, with chair-back grandstand seating for 66,089 spectators, 50 luxury suites with seats for approximately 2,000, 100 private RV spaces, 200 reserved camping spaces and 1,000 unreserved camping spaces.
Kentucky Speedway regularly hosts near capacity crowds for its Nationwide Series events.
"This is a wonderful opportunity for our company to grow into a new market in a modern speedway facility. We continue to be committed to investing in the motorsports industry," said Smith. Smith added that he has offered Jerry Carroll, who was instrumental in the development of Kentucky Speedway, the opportunity to remain involved in its future operations.
Kentucky Speedway will join an outstanding lineup of SMI facilities. The company also owns and operates Atlanta Motor Speedway; Bristol Motor Speedway in Bristol, Tenn.; Infineon Raceway in Sonoma, Calif.; Las Vegas Motor Speedway; Charlotte Motor Speedway in Concord, N.C.; New Hampshire Motor Speedway, in Loudon, N.H.; and Texas Motor Speedway in Ft. Worth, Texas.
With this acquisition, the company will own race tracks in the West, Northeast, Midwest, Southeast and Southwest, including four of the nation's top-10 designated market areas.
The breakdown includes: the fifth-largest market (Texas/Dallas-Ft. Worth); the sixth-largest market (Infineon/San Francisco); the seventh-largest market (New Hampshire/Boston); the eighth-largest market (Atlanta); the 25th-largest market (Lowe's/Charlotte); the 33rd-largest market (Kentucky/Cincinnati): the 43rd-largest market (Las Vegas); and the 91st-largest market (Bristol/Tri-Cities).
About Speedway Motorsports, Inc.
Speedway Motorsports is a leading marketer and promoter of motorsports entertainment in the United States. The Company owns and operates the following premier facilities: Atlanta Motor Speedway, Bristol Motor Speedway, Infineon Raceway, Las Vegas Motor Speedway, Charlotte Motor Speedway, New Hampshire Motor Speedway and Texas Motor Speedway. The Company provides souvenir merchandising services through its SMI Properties subsidiaries; manufactures and distributes smaller-scale, modified racing cars and parts through its 600 Racing subsidiary; and produces and
broadcasts syndicated motorsports programming to radio stations nationwide through its Performance Racing Network subsidiary. The Company also equally-owns Motorsports Authentics, a joint venture formed with International Speedway Corporation to produce, market and sell licensed motorsports merchandise. For more information, visit the Company's website at www.speedwaymotorsports.com.
This news release contains forward-looking statements, particularly statements with regard to the Company's future operations and financial results. There are many factors that affect future events and trends of the Company's business including, but not limited to, consumer and corporate
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forward-looking information, and such information included in this news release is based on information currently available and may not be reliable after this date.