Speedway Motorsports.
Speedway Motorsports has completed its purchase of Dover Motorsports, the company announced Wednesday. The deal was completed at $3.61 per share price for all outstanding shares of Dover, effected by Speedco II, Inc, a subsidiary of Speedway Motorsports.
Who bought Dover Speedway?
Speedway Motorsports will promptly complete its acquisition of Dover through consummation of a merger of Speedco II, with and into Dover without a vote of the Dover stockholders, in accordance with Section 251(h) of the General Corporation Law of the State of Delaware.
What happened to Dover Motorsports stock?
Following the merger, shares of Dover will cease to be traded on the New York Stock Exchange. “On behalf of our company I’d like to thank Denis McGlynn and Dover Motorsports for their cooperation and support through this process,” said Speedway Motorsports President and Chief Executive Officer Marcus Smith.
What happened to Speedway Motorsports?
SMI purchased North Wilkesboro Speedway and New Hampshire Motor Speedway in 2007, and in 2008 purchased Kentucky Speedway. Today SMI owns nine racing facilities, eight of which are used to host major racing series including NASCAR, IndyCar and NHRA.
When did Dover change to concrete?
September 19th 1994
The transition from asphalt to concrete began on September 19th 1994, just after the running of the SplitFire Spark Plug 500, won by Rusty Wallace. Melvin Joseph, former vice president and director of auto racing at Dover International Speedway, oversaw the project.
Did Dover speedway get sold?
It’s an approximate total equity value of $131.5 million. With the acquisition, Speedway Motorsports adds Dover International Speedway and Nashville Superspeedway to its portfolio alongside eight other racetracks that currently host NASCAR events.
Is the France family still involved in NASCAR?
NASCAR was founded by Bill France, Sr. in 1948 and to this day France family members own and operate NASCAR.
Is Dover a good stock to buy?
The average Dover stock price prediction forecasts a potential upside of 8.76% from the current DOV share price of $133.06. What is DOV’s Earnings Per Share (EPS) forecast for 2022-2024? (NYSE: DOV) Dover’s current Earnings Per Share (EPS) is $8.11.
Is Dover Corporation a good stock to buy?
Dover Corporation – Hold
Valuation metrics show that Dover Corporation may be undervalued. Its Value Score of B indicates it would be a good pick for value investors. The financial health and growth prospects of DOV, demonstrate its potential to outperform the market. It currently has a Growth Score of C.
Is Dover Corp a buy?
Dover has received a consensus rating of Hold. The company’s average rating score is 2.38, and is based on 3 buy ratings, 5 hold ratings, and no sell ratings.
Why did Speedway change their name?
The name change, announced on the SuperAmerica website Friday, comes after Marathon Petroleum’s $23 billion purchase of SuperAmerica owner Andeavor was completed on Oct. 1. SuperAmerica rewards cardholders are being asked to transfer their card balances at www.speedway.com.
Is Speedway rebranding to 7-Eleven?
On August 2, 2020, Marathon announced that Seven & i Holdings would be acquiring Speedway for $21 billion. The deal closed on May 14, 2021.
Speedway (store)
| Type | Subsidiary |
|---|---|
| Defunct | 1962 (1st incarnation) May 14, 2021 (as subsidiary, brand name continues in use) |
| Fate | Acquired by 7-Eleven, brand name continues to be used. |
Is Speedway coming back?
Swindon’s Speedway motorcycle team has announced that it will not be competing in the 2023 season.
Why is Dover called The Monster Mile?
From 2007 through 2009 the speedway received an upgrade — “The Monster Makeover” — that expanded the track’s facilities. In 2008, during the makeover, a 46-foot fiberglass creature was built outside the racetrack, and named Miles the Monster.
What percent of Dover is black?
Dover Demographics
White: 43.97% Black or African American: 42.09% Two or more races: 7.90%
Are NASCAR tracks concrete or asphalt?
The use of concrete and asphalt in the modern day is common practice for NASCAR track owners. While concrete is typically used in the banking corners, due to the grip of the high speed vehicles crumbling asphalt, blacktop is generally used for the remainder of the tracks. Only two NASCAR tracks are fully concrete.
Why is Dover Motor Speedway closed?
DOVER – Dover Motorsports, the parent company of Dover International Speedway and one of the last independent owners of a top-tier NASCAR racetrack, is officially no more, after its planned sale closed Wednesday.
Who owns Delaware Speedway?
A new ownership group, The Delaware Group, consisting of Walt Spivak, Jon Aarts (John Aarts Group/J-AAR) and the United Racing Series (Ivor Jones, John Jones, Steve Drake and Luke Ramsay) will oversee the famous track moving forward with Russ Urlin managing operations under the role of General Manager.
When did Bally’s purchase Dover Downs?
Bally’s purchased Dover Downs in 2018 when it operated under its previous name Twin River. The company rebranded last fall after purchasing Bally’s Casino in Atlantic City. Since purchasing Dover Downs, Bally’s has grown from four to 14 casino resorts.
Why did Home Depot stop sponsoring NASCAR?
NASCAR may have fallen down the list of priorities for its advertising dollars, leading to The Home Depot pulling out of the sport. The extra money saved from sponsoring NASCAR allowed them to purchase Interline Brands in 2015, according to Fortune.
How rich is the France family?
died, Forbes magazine estimated the family’s net worth at $2.8 billion, with the two sons of the late NASCAR founder Bill France Sr., Jim and Bill Jr., worth an estimated $1.4 billion each. In 2015, the magazine estimated the net worth of Jim France, now serving as ISC Chairman, at $1.97 billion.