ISC Continues Pursuit of Development Project in Pacific Northwest
November 22 2004 - 7:30PM
PR Newswire (US)
ISC Continues Pursuit of Development Project in Pacific Northwest
DAYTONA BEACH, Fla., Nov. 22 /PRNewswire-FirstCall/ --
International Speedway Corporation ("ISC") (Nasdaq/NM: ISCA; OTC
Bulletin Board: ISCB) today announced it will resume pursuit of
additional sites for the development of a major motorsports
facility in the Pacific Northwest. After preliminary due diligence
during the past six weeks on a site proposed by Snohomish County
and the City of Marysville, it has been determined the
site-specific costs of this project were beyond what was originally
anticipated. As a result, Snohomish County and Marysville have
withdrawn their proposal, allowing ISC to resume exploration of
other potential locations. "We remain committed to bring major
motorsports entertainment to the Pacific Northwest," commented H.
Lee Combs, Senior Vice President of Corporate Development of ISC.
"While we are disappointed that the site in Marysville was not
feasible, our enthusiasm for the area is in no way dampened. There
has been interest and support for this major opportunity from
several other municipalities in Washington as well as from State
officials, who recognize the economic benefits and long-term
positive potential impact of our plan. We remain very optimistic in
our ability to construct a world-class racing facility in this
region of the country." International Speedway Corporation is a
leading promoter of motorsports activities in the United States,
currently promoting more than 100 events annually. The Company owns
and/or operates 11 of the nation's major motorsports 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 track
ownership includes Nazareth Speedway in Pennsylvania and 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: Wes Harris, Director of
Investor Relations, of International Speedway Corporation,
+1-386-947-6465 Web site: http://www.iscmotorsports.com/
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