Operators of the nation's two leading speedway chains both indicated continued success in spite of the ailing economy in announcements made last week.
Speedway Motorsports Inc. reported record revenue and earnings for its first quarter, pointing to a 10 percent increase in admissions revenue that came as a result of sellouts at its tracks in Bristol, Tenn., and Las Vegas and the highest attendance for a Winston Cup race at Atlanta Motor Speedway since 1999.
Busch races also set attendance records in Bristol and Las Vegas, the company said.
For the quarter, the company announced that revenue increased 9 percent to $105 million, with admission revenue rising to $43 million. Earnings increased 54 percent to $19.1 million.
International Speedway Corp. announced record revenue and attendance for its races at California Speedway and Richmond International Raceway on the last weekend of April and first weekend of May, respectively. Winston Cup races at both tracks were sellouts, the company said. The increase at Richmond included 3,100 new seats that were sold as season subscriptions.
— Bill King
