Dover reports drops in revenues and income

Dover Motorsports Inc. says second-quarter revenues and income dropped sharply, primarily because of weather woes and lower revenues from NASCAR's new television package.

For the quarter ended June 30 revenues were $40,806,000, down from $45,003,000 in the same quarter last year. Earnings before income taxes were $11,285,000, down from $15,012,000.

In a news release, the company said weather affected four of its five event weekends and saw Dover International Speedway's June race rained out on Sunday for the first time in 32 years. Decreased revenues from admissions, sponsorship, program sales, concessions and merchandise as well as higher expenses from an extra day's activities contributed to the decrease in profitability.

In addition to the Dover track, the company owns Nashville Superspeedway and Memphis Motorsports Park, both in Tennessee, and Gateway International Raceway near St. Louis. SceneDaily