International Speedway Corp. has seen revenues drop 13.6 percent and has reported a loss for the first six months of its 2009 fiscal year – the loss mostly attributed to a write-down of $55.6 million for struggling merchandise arm Motorsports Authentics.
In releasing its financial statement for December 2008-May 2009, ISC said it has seen admissions revenue drop 16.5 percent, motorsports-related revenue drop 8.7 percent and food, beverage and merchandise revenue drop 33.7 percent. Admissions revenue for March-May (including NASCAR Sprint Cup weekends at Martinsville, Phoenix, Talladega, Richmond and Darlington) were down 18.2 percent. The track operator has had a net loss of $6.5 million for the first half of the year, compared to a profit of $62.25 million in the first half of last year.
lower ticket prices and even more empty seats will cause revenues to drop.
Less people will mean less concession revenues as well.
Only thing left they can do to get people back is um START THE RACES AT A RESPECTABLE TIME!!!!!
They start to late. Attendance has been dropping since the start times started to be later and later. Now later starts and poor economy both factor less people going to the races.