Speedway Motorsports, Inc.
Speedway Motorsports, Inc. (SMI) is a leading marketer, promoter and sponsor of motorsports activities in the United States. The Company, through its subsidiaries, owns and operates eight first-class racing facilitiesin significant markets across the country. The eight facilities are Atlanta Motor Speedway, Bristol Motor Speedway, Charlotte Motor Speedway, Kentucky Speedway, Las Vegas Motor Speedway, New Hampshire Motor Speeway, Sonoma Raceway and Texas Motor Speedway. The Company also provides souvenir merchandising services, and food, beverage and hospitality catering services through its SMI Properties subsidiaries; manufactures and distributes smaller-scale, modified racing cars and parts through its U.S. Legend Cars International subsidiary; provides radio programming, production and distribution through its Performance Racing Network subsidiary.
SMI derives revenues principally from the following activities:
•licensing of network television, cable television and radio rights to broadcast racing events;
•sales of tickets to motorsports races and other events held at our speedways;
•sales of sponsorships and promotions to companies that desire to advertise or sell their products or services surrounding our events;
• commissions earned on sales of food, beverages and hospitality catering;
• event sales and commissions from motorsports souvenir merchandise;
• rental of luxury suites during events and other track facilities;
• sales of smaller-scale, modified racing cars and parts;
• radio motorsports programming, production and distribution, and;
• non-event sales of wholesale and retail racing and other sports-related souvenir merchandise and apparel.
SMI's operating strategy is to increase revenues and profitability through the promotion and production of racing and related events at modern facilities, which serves to enhance customer loyalty and to market and distribute racing and other sports-related souvenir, apparel and other merchandise. The Company believes the objectives of growing revenues and profitability can be achieved by increasing attendance, broadcasting, sponsorship and other revenues at existing facilities, and by expanding the Company's promotional and marketing expertise to take advantage of opportunities in attractive existing and new markets. The key components of this strategy are described below.
•Commitment to Quality and Customer Satisfaction, and Expansion and Improvements of Existing Facilities
•Innovative and Expanding Marketing and Promotional Efforts
•Maximization of Media Exposure and Enhancement of Sponsorship and Other Promotional Revenues
• Further Development of SMI Properties, Performance Racing Network and U.S. Legend Cars Businesses
•Increased Daily Usage of Existing Facilities
•Acquisition and Development
Debuting on Wall Street in February 1995, Speedway Motorsports, Inc. became the first motorsports company publicly traded on the New York Stock Exchange (NYSE:TRK).
Atlanta Motor Speedway
Bristol Motor Speedway
Las Vegas Motor Speedway
Charlotte Motor Speedway
New Hampshire Motor Speedway
Performance Racing Network (PRN)
Texas Motor Speedway