Nascar losing money (1 Viewer)

[FABMAN]

SMI reports first quarter loss: Beset by falling revenues and rising fuel prices, Speedway Motorsports Inc. reported Wednesday that it lost $1.5 million for the first quarter of this fiscal year. The company said revenues were hurt by the country's ongoing economic troubles and the fact that two major races were moved back from this quarter to other dates. Total revenue for the three months ending March 31 fell to $87 million, down from $118 million during the same period last year. Admissions from revenues fell nearly $13 million, to $24.5 million. Company officials said they weren't surprised by the news, and said they still expect the company to earn profits of between 90 cents and $1.20 per share for the fiscal year.(Charlotte Observer)(5-6-2011)

 

[Crew Chief Pro]

That is *not* NASCAR. It is speedway motorsports.

That is like saying NHRA is loosing money because Mid State Dragway lost money.

 

[FABMAN]

That is *not* NASCAR. It is speedway motorsports.

That is like saying NHRA is loosing money because Mid State Dragway lost money.

If SMI is losing money then Nascar is losing money

 

[BF]

Atlanta, Bristol, Las Vegas, Lowe's and Texas Motor Speedways are all owned by SMI. Attendance at Bristol was dismal, at best. Atlanta lost their spring race. It is not a surprise that SMI's profits are down for the quarter. Bottom line though....when they have problems selling out Bristol, NASCAR has big problems.

 

[Mike]

SMI is Bruton Smiths company not NASCAR

 

[BF]

I thought we already established that.

 

[Mike]

So now you know for sure