Notes to Consolidated Financial Statements, November 30, 2005
Notes to Consolidated Financial Statements, November 30, 2005 NOTE 1 - DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES DESCRIPTION OF BUSINESS: International Speedway Corporation, including its wholly-owned subsidiaries (collectively the “Company”), is a leading promoter of motorsports entertainment activities in the United States. As of November 30, 2005, the Company owned and/or operated eleven of the nation’s major motorsports facilities as follows: Track Name Location Track Length Daytona International Speedway Daytona Beach, Florida 2.5 Miles Talladega Superspeedway Talladega,Alabama 2.6 Miles Michigan International Speedway Brooklyn, Michigan 2.0 Miles Richmond International Raceway Richmond, Virginia 0.8 Miles California Speedway Fontana, California 2.0 Miles Kansas Speedway Kansas City, Kansas 1.5 Miles Phoenix International Raceway Phoenix, Arizona 1.0 Mile Homestead-Miami Speedway Homestead, Florida 1.5 Miles Martinsville Speedway Martinsville, Virginia 0.5 Miles Darlington Raceway Darlington, South Carolina 1.3 Miles Watkins Glen International Watkins Glen, New York 3.4 Miles In addition, Raceway Associates, LLC (“Raceway Associates”), in which the through certain wholly-owned subsidiaries operating under the name 48 Company holds a 37.5% indirect equity interest, owns and operates Chicagoland “Americrown,” souvenir merchandising operations, food and beverage Speedway and Route 66 Raceway, two nationally recognized major motorsports concession operations and catering services, both in suites and chalets, for facilities in Joliet, Illinois. customers at all of its motorsports entertainment facilities. The Company also produces and markets motorsports-related merchandise such as apparel, In 2005, these motorsports facilities promoted well over 100 stock car, open souvenirs and collectibles to retail customers, through its RacingOne.com wheel, sports car, truck, motorcycle and other racing events, including: internet site, and directly to dealers.
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