ISC Selects Kitsap County, Washington, for Potential Motorsports Facility Development
June 23 2005 - 2:00PM
PR Newswire (US)
ISC Selects Kitsap County, Washington, for Potential Motorsports
Facility Development DAYTONA BEACH, Fla., June 23
/PRNewswire-FirstCall/ -- International Speedway Corporation
(NASDAQ:ISCA)(OTC:ISCB) (BULLETIN BOARD: ISCB) ("ISC") today
announced it has identified a preferred site for the development of
a motorsports facility in Kitsap County, approximately 20 miles
outside of Seattle, Washington, the country's 12th largest media
market. The Company, through its wholly owned subsidiary Great
Western Sports, Inc., has secured an option to purchase
approximately 950 acres for the potential future home of an
80,000-seat, state-of-the-art racing venue. Financial terms have
not been disclosed. "The selection of Kitsap County as our
preferred site is an important step forward in our efforts to bring
world class motorsports to the Northwest," said Grant Lynch, Vice
President of ISC and project team leader. "This project represents
a long-term growth opportunity for our Company, and will provide a
significant economic benefit to the region, which includes Kitsap,
Mason, Pierce and other surrounding counties." Lynch continued, "We
look forward to working closely with local civic groups and
community leaders as we proceed through the stages of our project
due diligence and present the details of our proposal. Ultimately
we believe the project will result in a win-win scenario for all
involved. Our goal is to become a long-term citizen and valued
partner of Kitsap County and the surrounding communities." The
Company is conducting ongoing project due diligence to further
analyze construction costs, determine the level of public
incentives, and review environmental impacts including traffic,
noise, air quality, and others, if any. For more information on
International Speedway Corporation's effort to bring world-class
racing to Washington visit: http://www.race2wa.com/. International
Speedway Corporation is a leading promoter of motorsports
activities in the United States, currently promoting more than 100
racing events annually as well as numerous other
motorsports-related activities. The Company owns and/or operates 11
of the nation's major motorsports entertainment facilities,
including Daytona International Speedway in Florida (home of the
Daytona 500); Talladega Superspeedway in Alabama; Michigan
International Speedway located outside Detroit; Richmond
International Raceway in Virginia; California Speedway near Los
Angeles; Kansas Speedway in Kansas City, Kansas; Phoenix
International Raceway in Arizona; Homestead-Miami Speedway in
Florida; Martinsville Speedway in Virginia; Darlington Raceway in
South Carolina; Watkins Glen International in New York. Other
motorsports entertainment facility ownership includes an indirect
37.5% interest in Raceway Associates, LLC, which owns and operates
Chicagoland Speedway and Route 66 Raceway near Chicago, Illinois.
The Company also owns and operates MRN Radio, the nation's largest
independent sports radio network; DAYTONA USA, the "Ultimate
Motorsports Attraction" in Daytona Beach, Florida, the official
attraction of NASCAR; and subsidiaries which provide catering
services, food and beverage concessions, and produce and market
motorsports-related merchandise under the trade name "Americrown."
For more information, visit the Company's Web site at
http://www.iscmotorsports.com/. Statements made in this release
that express the Company's or management's beliefs or expectations
and which are not historical facts or which are applied
prospectively are forward-looking statements. It is important to
note that the Company's actual results could differ materially from
those contained in or implied by such forward-looking statements.
The Company's results could be impacted by risk factors, including,
but not limited to, weather surrounding racing events, government
regulations, economic conditions, consumer and corporate spending,
military actions, air travel and national or local catastrophic
events. Additional information concerning factors that could cause
actual results to differ materially from those in the forward-
looking statements is contained from time to time in the Company's
SEC filings including, but not limited to, the 10-K and subsequent
10-Qs. Copies of those filings are available from the Company and
the SEC. The Company undertakes no obligation to release publicly
any revisions to these forward-looking statements that may be
needed to reflect events or circumstances after the date hereof or
to reflect the occurrence of unanticipated events. The inclusion of
any statement in this release does not constitute an admission by
International Speedway or any other person that the events or
circumstances described in such statement are material. DATASOURCE:
International Speedway Corporation CONTACT: investors &
financial, Wes Harris, Senior Director, Investor Relations,
+1-386-947-6465, or general, Stann Tate, Public Relations,
+1-913-526-5681, both for International Speedway Corporation Web
site: http://www.iscmotorsports.com/
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