Admission Growth Wanes at ISC, Incentivizing Shareholders to Support Privatization
With admissions falling 5% in narrow-moat International Speedway’s, or ICS', second quarter and 4.5% year to date, it’s clear that the business has struggled to attract race car enthusiasts to the track consistently. We expect competitiveness and low switching costs across leisure activities to restrict the company’s ability to grow sales as rapidly as in the past, which should hold return on invested capital, or ROIC, metrics to a mid-single-digit level. We don’t plan any changes to our five-ye...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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