Dover Motorsports, Inc. declines 2011 NASCAR events at Gateway International Raceway
Dover Motorsports, Inc. (NYSE: DVD) announced today that its wholly owned subsidiary, Gateway International Raceway has notified NASCAR that it will not seek 2011 sanctions for its two Nationwide Series and one Camping World Truck Series races.
Vice President and General Manager of Gateway, Terry Harmeson stated, “This was a difficult decision in light of the many years of earnest and continued efforts on everyone’s part to develop a viable market for these events in one of our nation’s greatest cities. We remain committed to fulfill the balance of our 2010 schedule including our October 23rd NASCAR Nationwide race which will provide our fans the opportunity to see Danica Patrick compete here for the first time. We also plan to explore various ways to change the economics at Gateway both from the revenue and expense side.”
Denis McGlynn, President & CEO of Dover Motorsports, stated, “We have a group of extremely dedicated and talented employees who make Gateway a great destination and we deeply appreciate all the support we have had from the racing community over the years – from racing fans and drivers to sponsors, team owners and sanctioning bodies. However, economics dictate that we evaluate all of our options for this facility, including its possible sale.”
This release contains or may contain forward-looking statements based on management's beliefs and assumptions. Such statements are subject to various risks and uncertainties which could cause results to vary materially. Please refer to the Company's SEC filings for a discussion of such factors.
Dover Motorsports, Inc. (NYSE: DVD) is a leading promoter of NASCAR sanctioned motorsports events whose subsidiaries own and operate Dover International Speedway in Dover, Del., and Nashville Superspeedway near Nashville. The company also plays host to the Firefly Music Festival, produced by Red Frog Events and Goldenvoice. For more information, visit www.DoverMotorsports.com.