ISC Revenue Increases Despite Rain At Daytona, Sponsorships To Sell
Despite rain delaying this year's Daytona 500, ISC saw an increase in Q1 revenue from a year ago. Revenue rose to $131.8M for the quarter from $128.6M over the same period a year ago. Ticket revenue was flat at $30M, but revenue from sponsorships and TV rights rose slightly to $85.2M and food, beverage and merchandise revenue jumped to $13M from $10M a year ago. ISC CEO Lesa France Kennedy said, “First quarter financial results were within our range of expectations thanks to increased revenue and stabilized earnings on a comparable basis.”
ISC still has two of 20 NASCAR Sprint Cup race title sponsorships to sell and three of 15 Nationwide Series race title sponsorships to sell. The total available inventory is slightly more than it had at the same point last year, but the company expressed optimism that it will find sponsors for those races later this year. ISC is moving ahead with its One Daytona project, a mixed-use development across the street from Daytona Int’l Speedway. It will have a Bass Pro Shops location, 660 hotel rooms, 1,350 residential units, restaurants and shops.