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Profits slump for US circuit operator
4th January 2008
The US based race circuit owner and operator Speedway Motorsports Inc in Concord, North Carolina has posted $13.6 million loss for the third trading quarter of 2007.
The loss - $4.7 million lower than the equivalent period in 2006 – is the first posted by SMI since 2004 and is attributed to losses at its subsidiary Motorsports Authentics, a joint merchandising venture with rival track owner International Speedway Corp.
According to SMI had it not been for the Motorsports Authentics losses, the company would have made a $4.4 million profit.
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