Ticket sales fell to $21.7M from $22.4M last year and event-related revenue fell to $23.7M from $24.7M. SMI still has “catching up to do" on sponsorship sales. It has not landed a race title sponsor for its Sprint Cup race at New Hampshire Motor Speedway in July and also needs to find title sponsorship for three Nationwide Series races.
SMI President & COO Marcus Smith said in a statement, "SMI's first quarter results, while within our expectations, continue to reflect the ongoing difficult economic conditions. … We continue to believe attendance and other event-related revenue trends are finally stabilizing, with some markets recovering slower than anticipated because of the ongoing recession and political uncertainty."