The ratings on Speedway Motorsports Inc. reflect the company's good market position in the motor sports industry and its moderate capital structure. The company is one of the two largest companies hosting races sanctioned by the National Association for Stock Car Auto Racing (NASCAR). High construction costs and a limited number of racing dates have created important barriers to entry. However, the company has little revenue diversity. About 80% of revenues and an even greater percentage of EBITDA come from 19 annual NASCAR events held at the company's six tracks, which are awarded on an annual basis. International Speedway Corp., a major competitor and the industry leader, and NASCAR are controlled by the same family. Standard&Poor's Ratings Services
