Dover Motorsports, Inc. announces closing of Gateway International Raceway Dover Motorsports, Inc. (NYSE: DVD) announced today that it was ceasing all operations at Gateway International Raceway. The company previously announced that it would...
Dover Motorsports, Inc. announces closing of Gateway International Raceway
Dover Motorsports, Inc. (NYSE: DVD) announced today that it was ceasing all operations at Gateway International Raceway.
The company previously announced that it would not seek to run any NASCAR Series events at the facility in 2011. The track ran its final NASCAR Nationwide Series event on October 23, 2010.
Denis McGlynn, President and CEO of Dover Motorsports, stated: "Gateway is a tremendous facility in a great racing community, but we are simply unable to operate it with an acceptable return. We truly appreciate the many years of dedication shown by our Gateway employees and their efforts to make Gateway such a great destination for all those passionate about our sport -- from racing fans and drivers to sponsors, team owners and sanctioning bodies."
The majority of the track is leased from third parties. The company owns approximately 150 acres of the facility and has been in discussions with several interested purchasers.
Dover Motorsports, Inc. (NYSE: DVD) is a leading promoter of motorsports events in the United States. DVD subsidiaries operate three tracks in three states, and present several hundred motorsports events each year. This includes 14 major, national events which include races sanctioned by NASCAR and the NHRA. Dover Motorsports, Inc. owns and operates Dover International Speedway in Dover, Del., Gateway International Raceway near St. Louis, Mo., and Nashville Superspeedway near Nashville, Tenn. For further information log on to www.DoverMotorsports.com. This release may contain forward-looking statements based on management's beliefs and assumptions. Such statements are subject to various risks and uncertainties that could cause results to vary materially. Please refer to the SEC filings of DVD for a discussion of such factors.
-source: dover motorsports inc.