Speedway Motorsports Inc. Q4 2008 Earnings Call Transcript

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2009-03-11 13:08:17.0

Tags: Attendance, Event, Call Transcript, Earnings, Speedway Motorsports Inc., Operational Accounting, Sales Strategy, Finance, Sales, Seeking Alpha

Question-and-Answer Session

Operator

(Operator Instructions) Your first question comes from Joe [Lackey] – Wells Fargo-Wachovia.

Joe Lackey – Wells Fargo-Wachovia

I just want to confirm what you saw on the first couple of events there in the way of attendance. You said for your first two events it was about the same year-over-year. Is that kind of what’s been seen across all series or was that just for the Cup events? And is that similar to what’s been seen at other series events, you know, other races that have been held season to date?

William R. Brooks

Joe, the attendances that I was referring to that was the same year-over-year – similar year-over-year relates to the Sprint Cup events. The attendance at the other series has been down year-over-year. Based on the public comments that other promoters have made, they have had attendance that’s been fairly similar to the prior year but again the weekend revenues have been less for the reasons that I mentioned before.

Joe Lackey – Wells Fargo-Wachovia

Can you talk a little bit about TV ratings season to date for the top nationwide in Truck?

Marcus G. Smith

Yes, Joe, they’ve held strong. We’ve had solid ratings for Sprint Cup Nationwide and the Truck series. They’ve held their place in rankings. We’ve been up and down, but it’s pretty even with last year.

Joe Lackey – Wells Fargo-Wachovia

And in regards to advance ticket sales sounds like purchases are coming in closer to the events. You know, on a year-over-year basis at this point can you kind of compare where you are this year versus last year?

William R. Brooks

Joe, you can see that in our deferred revenues at the end of the calendar year. Last year we were at I believe it was $113 million and this year it’s $105, so we’re down that type of a percentage and although I don’t know what it is today I’d expect it to be something similar to that.

Joe Lackey – Wells Fargo-Wachovia

Real quick on Kentucky can you describe your strategy there as far as getting a Cup race in 2010? Might that be a race for example the Atlanta Spring Race moved there? Or can you kind of discuss what your thoughts are in regards to Kentucky?

Marcus G. Smith

Joe, we’ve said many times we’re going to try to realign the race there just as quickly as we can. We hope that that would be for 2010. We haven’t disclosed what Speedway it’s coming from and I’m not sure we’ve made a final decision about that.

 

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