ISC Signs Multiyear Extension With Geico StubHub Sees 32% Revenue Growth For Q3 AlphaDraft To End Paid Contests After Friday Upcoming IPO Will Value Acushnet At $1.7B Fed Reportedly Sees WME-UFC Deal As "Problematic" Providence To Make $425M From Sale Of Learfield Atairos Acquires Learfield For Undisclosed Price Four Final Bids Emerge In Learfield Sale ISC Reports 3% Revenue Increase For Q3 ScoreBig Providing Order Sources Amid Financial Woes
SBD/July 7, 2011/Finance
ISC Announces Operating Income Growth For Q2, First Half Of '11 Due To Expense Reduction
Published July 7, 2011
GOING BACK TO CALI: After failing to reach an agreement on sanctioning fees and cutting ties with IndyCar in '11, ISC has patched things up with the series. The company's California track, Auto Club Speedway, will host a race next year that Saunders today said will be "profitable." IndyCar CEO Randy Bernard, in an interview with SBJ, said, "I always said that we're doing events with promoters and partners that want to see us grow and I really believe (Auto Club President Gillian Zucker) wants to see us grow." Bernard said that IndyCar asked for "a little less" in sanctioning fees than what the series was after last year but added that IndyCar would "net the same thing" because of "partnership elements" such as suite inventory, ticket inventory and presenting sponsorship that Auto Club will allow IndyCar to sell. Bernard said IndyCar is in contact with other ISC tracks, including Chicagoland Speedway, and could return to other ISC venues in ‘12. Bernard was on his way to Toronto for this weekend's Izod IndyCar race. He said that the race organizers are expecting a huge walk up for the race, which is up 12% from last year in pre-sales. Bernard said, "I'm tickled to death."