DAYTONA BEACH, Fla.,
Feb. 3, 2016 /PRNewswire/
-- International Speedway Corporation (NASDAQ Global Select
Market: ISCA; OTC Bulletin Board: ISCB) ("ISC") today announced
it has amended the price parameters of its share repurchase program
with intention to make up to $37.0
million in open market repurchases of ISCA shares through
fiscal year end November 30,
2016. The Company has authorized its agent to purchase shares
under revised opportunistic parameters, which encompass price,
corporate and regulatory requirements, capital availability and
other market conditions.
The Company has approximately $61.7
million remaining on its $300
million authorization to repurchase ISCA shares. The
Company has not repurchased ISCA shares on the open market since
the period ended November 30,
2012.
On a quarterly basis and pursuant to the trading plan under
Rule10b5-1, the Company reviews and adjusts, if necessary, the
parameters of its Share Purchase Plans.
International Speedway Corporation is a leading promoter of
motorsports activities, currently promoting more than 100 racing
events annually as well as numerous other motorsports-related
activities. The Company owns and/or operates 13 of the
nation's major motorsports entertainment facilities, including
Daytona International Speedway® in Florida (home of the DAYTONA 500®); Talladega
Superspeedway® in Alabama;
Michigan International Speedway® located outside Detroit; Richmond International Raceway® in
Virginia; Auto Club Speedway of
Southern CaliforniaSM
near Los Angeles; Kansas Speedway®
in Kansas City, Kansas; Phoenix
International Raceway® in Arizona;
Chicagoland Speedway® and Route 66 RacewaySM near
Chicago, Illinois;
Homestead-Miami SpeedwaySM in Florida; Martinsville Speedway® in
Virginia; Darlington Raceway® in
South Carolina; and Watkins Glen
International® in New York.
The Company also owns and operates Motor Racing
NetworkSM, the nation's largest independent sports radio
network and Americrown Service CorporationSM, a
subsidiary that provides catering services, and food and beverage
concessions. In addition, the Company has a 50 percent
interest in the Hollywood Casino at Kansas Speedway. For more
information, visit the Company's Web site at
www.internationalspeedwaycorporation.com.
Statements made in this release that express the Company's or
management's beliefs or expectations and which are not historical
facts or which are applied prospectively are forward-looking
statements. It is important to note that the Company's actual
results could differ materially from those contained in or implied
by such forward-looking statements. The Company's results could be
impacted by risk factors, including, but not limited to, weather
surrounding racing events, government regulations, economic
conditions, consumer and corporate spending, military actions, air
travel and national or local catastrophic events. Additional
information concerning factors that could cause actual results to
differ materially from those in the forward-looking statements is
contained from time to time in the Company's SEC filings including,
but not limited to, the 10-K and subsequent 10-Qs. Copies of those
filings are available from the Company and the SEC. The Company
undertakes no obligation to release publicly any revisions to these
forward-looking statements that may be needed to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events. The inclusion of any statement in this
release does not constitute an admission by International Speedway
or any other person that the events or circumstances described in
such statement are material.
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SOURCE International Speedway Corporation