International Speedway Kicks Off New Format With Sellout at Daytona; Shares Fairly Valued
Narrow-moat International Speedway continues to work to fortify its brand intangible asset, focusing on the redevelopment of existing properties and expanding the uses of its owned properties (Hollywood Casino and One Daytona), attempting to better monetize the assets on its balance sheet and generate higher returns on capital. While returns on invested capital are improving over our forecast, we only have them rising to a mid-single-digit rate over the next five years (6%), still below our weig...International Speedway owns motorsports entertainment facilities and promoter of motorsports themed entertainment activities in the U.S. The company's motorsports themed event operations consist primarily of racing events at its motorsports entertainment facilities. The company conducts, either through operations of the particular facility or through its wholly owned subsidiary, Americrown Service Corporation, food and beverage concession operations and catering services, both in suites and chalets. The company's subsidiary, Motor Racing Network, Inc. creates motorsports-related programming content carried on radio stations around the country, as well as on a national satellite radio service, Sirius XM Radio.
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