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View Annual Report I NTERNATIONAL SPEEDWAY CORPORATION • 2013 ANNUAL REPORT INTERNATIONAL MOTORSPORTS CENTER One Daytona Boulevard Daytona Beach, Florida 32114-1252 www.internationalspeedwaycorporation.com OUR BOARD OF DIRECTORS. JAMES C. FRANCE LESA FRANCE KENNEDY Chairman of the Board Vice Chair and Chief Executive Officer International Speedway Corporation International Speedway Corporation TO BE THE WORLD LEADER IN MOTORSPORTS LARRY AIELLO, JR.1 ENTERTAINMENT BY PROVIDING SUPERIOR, 1 Retired as President and J. HYATT BROWN INNOVATIVE, AND THRILLING GUEST EXPERIENCES. Chief Executive Officer Chairman DRIVEN Corning Cable Systems Brown & Brown, Inc. International Speedway Corporation, (“ISC”) founded in 1953, is a leading promoter of motorsports-themed entertainment activities in the United States. The Company owns and/or operates 13 of the nation’s premier motorsports entertainment facilities, which in total, have approximately 830,000 grandstand seats and 525 suites. EDSEL B. FORD II1 BRIAN Z. FRANCE Chairman and ISC’s facilities are located in six of the nation’s top 13 media markets and nearly 80 percent of the country’s population is located within Board Director Ford Motor Company and Chief Executive Officer the primary trading areas of its facilities. NASCAR, Inc. ISC promotes major motorsports events in every month of the racing season — more than any other motorsports promoter. • Daytona International Speedway® in Florida • Phoenix International Raceway® in Arizona • Talladega Superspeedway® in Alabama • Chicagoland Speedway® near Chicago, Illinois WILLIAM P. GRAVES1 SONIA MARIA GREEN1 • Michigan International Speedway® located outside Detroit • Route 66 RacewaySM near Chicago, Illinois President and Chief Executive Officer Nationally recognized leader in American Trucking Associations marketing and brand communications. • Richmond International Raceway® in Virginia • Homestead-Miami SpeedwaySM in Florida • Auto Club Speedway of Southern CaliforniaSM • Martinsville Speedway® in Virginia near Los Angeles • Darlington Raceway® in South Carolina ® • Kansas Speedway in Kansas City, Kansas • Watkins Glen International® in New York CHRISTY F. HARRIS MORI HOSSEINI1 The Company also owns and operates Motor Racing Network Radio, the nation’s largest independent sports radio network and Attorney in private practice of Chairman and Chief Executive Officer Americrown Service CorporationSM, a subsidiary that provides catering services, food and beverage concessions, and produces business and commercial law of Intervest Construction, Inc. and markets motorsports-related merchandise. In addition, the Company has a 50 percent interest in the Hollywood Casino at Kansas Speedway. The National Association for Stock Car Auto Racing (NASCAR) is the most prominent sanctioning body in stock car racing, based on such factors as geographic presence, number of members and sanctioned events. ISC derives approximately 90 percent of its revenues from 1 1 NASCAR-sanctioned racing events. LLOYD E. REUSS LARRY D. WOODARD Former President President and CEO of ISC attributes its solid revenues and profits to an operating strategy that produces significant operating cash flow which is reinvested in General Motors Corporation Graham Stanley Advertising strategic opportunities to grow the business and deliver shareholder value. 1 Independent Board Member DEAR INTERNATIONAL SPEEDWAY CORPORATION SHAREHOLDERS, PARTNERS AND EMPLOYEES: 013 was a banner year for International As a result, we feel increasingly confident directly across from Daytona International Speedway Corporation and the sport about our financial condition and strategic Speedway, ONE DAYTONA, is gaining steam. 2 of NASCAR, with TV ratings up for key initiatives to grow our business. In partnership with Jacoby Development viewer demographics; the launch of the Gen we are making steady progress on securing In June 2013, our Board of Directors 6 car which delivered record setting season tenants to compliment the previously endorsed a $600 million, five-year capital for qualifying, green flag passes and margins announced anchors Bass Pro Shops and allocation plan for capital projects in fiscal of victory; and an increasing diversity in the Cobb Theaters. In addition our teams are years 2013 through 2017 that will focus NASCAR fan base. All signs that the Industry in discussions with local officials regarding on enhancing the guest experience at our Action Plan is working! opportunities for public incentives to support facilities. As part of this capital allocation the project. ONE DAYTONA will be a welcome In 2013 we saw encouraging signs of plan, we broke ground on DAYTONA addition to our growing list of value building stabilization in our core business, driven by Rising immediately following the Coke ancillary developments, complementing slowly improving economic conditions and Zero 400 in July. DAYTONA Rising is a our hugely successful Hollywood Casino our solid consumer and corporate marketing $400 million reimagining of an American at Kansas Speedway joint venture which strategies. While we continued to experience icon - Daytona International Speedway. returned $21.5 million in cash in its first full softness in attendance overall, Phoenix Upon completion for the 2016 season, five year of operation. International Raceway reported a sold out Fall expanded and redesigned entrances, or Sprint Cup Series event for the third straight “injectors,” will lead fans to a series of The start of a new motorsports season year and we saw increased attendance for escalators and elevators, transporting them is always an exciting time for us, and several other Sprint Cup events. to three different concourse levels. Each more importantly, our fans and sponsors. level features spacious social areas, or Excitement is high surrounding NASCAR’s From a marketing partnership perspective, “neighborhoods,” along the nearly mile- numerous innovations in the competition the Company sold all of its 2013 NASCAR long frontstretch. At the conclusion of space, including the new championship Sprint Cup and Nationwide series event the redevelopment, Daytona International format today that will put greater entitlements and was within one percent of Speedway will have approximately 101,000 emphasis on winning races all season the gross marketing partnership revenue permanent, wider and more comfortable long, expands the current Chase for the target for the year. Corporate support for seats, twice as many restrooms and three NASCAR Sprint Cup field to 16 drivers, ISC remains strong, despite the sluggish times as many concession stands. In and implements a new round-by-round economy which has influenced corporate addition, the Speedway will feature over advancement format that ultimately will budgets, sales and contract duration. The 60 luxury suites with track side views reward a battle-tested, worthy champion. number of Fortune 500 companies invested and a completely revamped hospitality Along with all the fan focused innovations in NASCAR remains higher than any other experience for corporate guests. At the and value building projects here at sport. Nearly one-in-four Fortune 500 time of this writing, we are pleased to report International Speedway Corporation, we companies use NASCAR as part of their DAYTONA Rising is on schedule and on are surely racing into the future. marketing mix. For the second consecutive budget, and we have announced our first year, the number of Fortune 500 companies We appreciate your continued support and long-term DAYTONA Rising founding partner involved in NASCAR increased; to an eight look forward to seeing you at the races! agreement with Toyota. We are confident percent improvement over 2008. that elevating the experience at the most ISC’s risk profile improved significantly during iconic motorsports facility in North America 2013 with the sale of our Staten Island will take the Daytona 500 brand to a whole VICE CHAIR AND CHIEF EXECUTIVE OFFICER property and NASCAR negotiating the largest new level, not to mention the impact on our TV rights contract in the sport’s history, giving 12 other major motorsports facilities’ brands us strong earnings visibility through 2024. and NASCAR’s brand. Few industries can boast that they have their In addition, our proposed mixed-use and largest revenue stream locked in for the next entertainment destination project located PRESIDENT eleven years! This page was intentionally left blank. 10-K 2013 This page was intentionally left blank. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________ FORM 10-K ________________________________ (Mark One) ý Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended November 30, 2013 or ¨ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from _____ to _____ Commission File Number 000-02384 ________________________________ INTERNATIONAL SPEEDWAY CORPORATION (Exact name of registrant as specified in its charter) ________________________________ FLORIDA 59-0709342 (State or other jurisdiction of incorporation) (I.R.S. Employer Identification No.) ONE DAYTONA BOULEVARD, DAYTONA BEACH, FLORIDA 32114 (Address of principal executive offices) (Zip code) Registrant’s telephone number, including area code: (386) 254-2700 ________________________________ Securities registered pursuant to Section 12(b) of the Act: Title of each class Name of each exchange on which registered Class
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