Dover Motorsports, Inc. Announces Closing of Gateway International Raceway
November 03 2010 - 10:59AM
Business Wire
Dover Motorsports, Inc. (NYSE: DVD) announced today that it was
ceasing all operations at Gateway International Raceway.
The company previously announced that it would not seek to run
any NASCAR Series events at the facility in 2011. The track ran its
final NASCAR Nationwide Series event on October 23, 2010.
Denis McGlynn, President and CEO of Dover Motorsports, stated:
“Gateway is a tremendous facility in a great racing community, but
we are simply unable to operate it with an acceptable return. We
truly appreciate the many years of dedication shown by our Gateway
employees and their efforts to make Gateway such a great
destination for all those passionate about our sport – from racing
fans and drivers to sponsors, team owners and sanctioning
bodies.”
The majority of the track is leased from third parties. The
company owns approximately 150 acres of the facility and has been
in discussions with several interested purchasers.
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. owns and operates Dover International
Speedway in Dover, Del. and Nashville Superspeedway near Nashville,
Tenn. Both concrete tracks are home to some of the most exciting
racing in NASCAR. The legendary “Monster Mile” in Dover is known
for being tough on drivers and their equipment, and has been
hosting two NASCAR Sprint Cup Series race weekends each year for
over 40 years. Nashville Superspeedway first opened its doors in
2001 and currently hosts two NASCAR Nationwide Series and NASCAR
Camping World Truck Series doubleheader race weekends each year.
For further information, log on to www.DoverMotorsports.com.
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