Dover Motorsports Stocks
DOVER MOTORSPORTS (DVD) Stocks
ABOUT DOVER MOTORSPORTS
Dover Motorsports, Inc. (formerly Dover Downs Entertainment), an America motorsport company, was founded in 1969 and has its headquarters in Dover, Massachusetts. The company owns several motor racing circuits in the U.S. of which the Dover International Speedway is its flagship raceway.
Dover Motorsports, Inc. is a leading promoter of NASCAR sanctioned motorsports events at the Dover International Speedway in Dover and the Nashville Superspeedway near Nashville, Tennessee. It also hosts the Firefly Music Festival produced by AEG Presents.
Dover Motorsports and Dover Downs Gaming & Entertainment operated as one company prior to being spun off into two separate entities in 2002. The company also sold off its Nashville area racetrack in 2014.
Today, the company employs about 50 people.
HISTORY OF DOVER MOTORSPORTS
- Dover Motorsports, Inc. makes its money when rubber hits the track. It hosts several prestige racing events on its tracks annually.
- Its flagship property, the Dover International Speedway in Delaware, hosts most of the major US racing league events such as NASCAR, the National Hot Rod Association and the Indy Racing League. Stock-car racing, however, comprises 80% of the company’s sales.
- The company’s pride and joy is the Dover International Speedway where it has been hosting NASCAR events since the green flag dropped on the “Mason-Dixon 300” in July of 1969. This first race was dubbed as NASCAR’s “invasion of the North” by race winner Richard Petty.
- The track is to this day still the home of the Monster Energy NASCAR Cup Series in which race hopefuls give their all to conquer the track known in motorsport circles as “The Monster Mile”. Competitors reach speeds of up to 170mph and have to navigate 24 degrees of banking in all four turns, as well as 9 degrees of incline on the straightaways, which has earned this speedway the reputation as the world’s fastest one-mile concrete oval.
- The company formerly also operated Nashville Superspeedway in Lebanon, Tennessee, and Gateway International Raceway in Madison, Illinois.
VISION & VALUES OF DOVER MOTORSPORTS
- Dover Motorsports Inc. is passionate about promoting motor sport and offering fans a unique experience each time they visit its venues.
- The company is people-orientated and operates with integrity, responsibility and vision. It regards safety as paramount and pays meticulous attention to detail whenever an event is presented at its venues. The company values its employees and shareholders.
- It constantly seeks to add value for shareholders who purchase shares by implementing best practices in all of its operations.
MARKET PERFORMANCE OF DOVER MOTORSPORTS
- Dover Motorsports Inc. trades on the New York Stock Exchange (NYSE) under the stock symbol “DVD”.
- The company is a Russell Microcap Index component.
- For the second quarter 2019, the company’s general and administrative expenses of US$ 1.1826.000 remained consistent compared to US$ 1.799.000 in the second quarter of 2018. Net earnings for the second quarter of 2019 were US$ 5.501.000 or $ 0.15 per diluted share.
- This solid performance affords shareholders who buy or sell company shares the confidence to do so in the expectation of solid dividends and returns.