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                                                                    EXHIBIT 99.1


                           SPEEDWAY MOTORSPORTS, INC.
                                  RISK FACTORS

      You should carefully consider and evaluate all of the risk factors set
forth below in the context of any forward-looking statement, either oral or
written, made from time to time by Speedway Motorsports, Inc. and its
subsidiaries, officers or directors.

      The annual, quarterly and current reports and proxy statements we file
with the Securities and Exchange Commission and the documents we incorporate by
reference in such reports and statements as well as the press releases we issue
from time to time and the oral and written statements of our officers and
directors made from time to time may contain forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. You can identify
a forward-looking statement by our use of the words "anticipate," "estimate,"
"expect," "may," "believe," "objective," "projection," "forecast," "goal," and
similar expressions. These forward-looking statements may include, among other
things, our statements regarding the timing of future events, our anticipated
future operations, financial position or cash requirements. Although we believe
that the expectations reflected in our forward-looking statements are
reasonable, we do not know whether our expectations will prove correct. We
disclose important factors that could cause our actual results to differ from
our expectations in cautionary statements made in filings we have made with the
SEC. All subsequent written and oral forward-looking statements attributable to
us or to persons acting on our behalf are expressly qualified in their entirety
by these cautionary statements. Our actual results could differ materially from
those anticipated in any such forward-looking statements as a result of the risk
factors described in these reports, other factors set forth in or incorporated
by reference in these reports and as set forth below.

      Many of these factors are beyond our ability to control or predict. We
caution you not to put undue reliance on forward-looking statements or to
project any future results based on such statements or on present or prior
earnings levels or financial condition. Some of the factors that could cause the
actual results to differ materially are set forth below. Additional information
concerning these or other factors that could cause the actual results to differ
materially from those in the forward-looking statements is contained from time
to time in our other SEC filings. Copies of those filings are available from us
and/or the SEC.

BAD WEATHER ADVERSELY AFFECTS THE PROFITABILITY OF OUR MOTORSPORTS EVENTS.

      We sponsor and promote outdoor motorsports events. Weather conditions
affect sales of tickets, concessions and souvenirs, among other things, at these
events. Although we sell tickets well in advance of our events, poor weather
conditions can have an effect on our results of operations.

CONSUMER AND CORPORATE SPENDING CAN SIGNIFICANTLY IMPACT OPERATING RESULTS.

      Many factors related to discretionary consumer spending, including
economic conditions affecting disposable consumer income such as employment,
interest and tax rates and inflation, can significantly impact our operating
results. Many factors related to corporate spending such as general economic and
other business conditions, including consumer spending, interest and tax rates,
and inflation, as well as various industry conditions, including corporate
marketing and promotional spending and interest levels, can also significantly
impact our operating results. These factors can affect attendance at our events,
suite rentals, sponsorship, advertising and hospitality spending, concession and
souvenir sales, as well as the financial results of present and potential
sponsors of our facilities and events and of the industry. There can be no
assurance that consumer and corporate spending will not be adversely impacted by
economic conditions, and thereby possibly impacting our operating results and
growth.


NONRENEWAL OF A NASCAR EVENT LICENSE OR A DETERIORATION IN OUR RELATIONSHIP WITH
NASCAR COULD ADVERSELY AFFECT OUR PROFITABILITY.

      Our success has been and will remain dependent to a significant extent
upon maintaining a good working relationship with the organizations that
sanction the races we promote at our facilities, particularly the National

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Association for Stock Car Auto Racing, Inc. ("NASCAR"), the sanctioning body for
Winston Cup, Busch Grand National and Craftsman Truck races. We currently hold
licenses to sponsor ten Winston Cup races and seven Busch Grand National races.
In 2001, we derived approximately 76% of our total revenues from events
sanctioned by NASCAR. Each NASCAR event license is awarded on an annual basis.
Although we believe that our relationship with NASCAR is good, NASCAR is under
no obligation to continue to license SMI to sponsor any event. Nonrenewal of a
NASCAR event license would have a material adverse effect on our financial
condition and results of operations. Our strategy has included growth through
the addition of motorsports facilities. We cannot assure you that we will
continue to obtain NASCAR licenses to sponsor races at such facilities. Failure
to obtain NASCAR event licences for any such future additional motorsport
facility could adversely affect us. Similarly, NASCAR is not obligated to modify
its race schedules to allow us to schedule our races more efficiently or
favorably.

      In February 2002, a SMI stockholder filed a suit against NASCAR and
International Speedway Corporation ("ISC") alleging, among other things, that
NASCAR and ISC unlawfully refused to award our Texas Motor Speedway subsidiary
("TMS") a NASCAR Winston Cup race date. We have taken no position on this
matter. We are unable to predict what effect, if any, this lawsuit will have on
us or our relationship with NASCAR. If this matter adversely affects our
relationship with NASCAR, our financial condition and results of operations may
be adversely affected.

NATIONAL OR LOCAL CATASTROPHES COULD HAVE A SIGNIFICANT ADVERSE IMPACT ON OUR
OPERATING RESULTS.

      The national security incidents of September 11, 2001 have raised numerous
challenging operating factors including public concerns regarding air travel,
military actions, and additional national or local catastrophic incidents. These
factors have, and may continue, to adversely affect consumer and corporate
spending sentiment. Should difficulties, restrictions or public concerns
regarding air travel or military-related actions continue or increase, or if
additional national or local terrorist, catastrophic or other incidents occur,
there can be no assurance that consumer and corporate spending will not be
adversely impacted, thereby possibly impacting our operating results and growth.

COSTS ASSOCIATED WITH AND ABILITY TO OBTAIN ADEQUATE INSURANCE COULD ADVERSELY
AFFECT OUR PROFITABILITY AND FINANCIAL CONDITION.

      Heightened concerns and challenges regarding property, casualty,
liability, business interruption, and other insurance coverage have resulted
after the national incidents on September 11, 2001. We have experienced
increased difficulty obtaining high policy limits of coverage at reasonable
costs, including coverage for acts of terrorism. We have a material investment
in property and equipment at each of our six speedway facilities, which are
generally located near highly populated cities and which hold motorsports events
typically attended by large numbers of fans. At December 31, 2001, we had net
property and equipment of approximately $813.2 million. These operational,
geographical and situational factors, among others, have resulted in and may
continue to result in, significant increases in insurance premium costs. We
cannot assure you that future increases in such insurance costs will not
adversely impact our profitability, thereby possibly impacting our operating
results and growth.

      In addition, while management attempts to obtain and believes it presently
has reasonable limits of property, casualty, liability, and business
interruption insurance in force, including coverage for acts of terrorism, and
with financially sound insurers, we cannot guarantee that such coverage would be
adequate should a catastrophic event occur at or near any of our speedway
facilities, or that our insurers would have adequate financial resources to
sufficiently or fully pay our related claims or damages. Once our present
coverage expires, we cannot guarantee that adequate coverage limits will be
available, offered at reasonable costs, or offered by insurers with sufficient
financial soundness. The occurrence of such an incident affecting any of our
speedway facilities could have a material adverse effect on our financial
position and future results of operations if asset damage and/or company
liability was to exceed insurance coverage limits or if an insurer was unable to
sufficiently or fully pay our related claims or damages. The occurrence of
additional national incidents, in particular incidents at sporting event,
entertainment or other public venues, may significantly impair our ability to
obtain such insurance coverage in the future.

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POSTPONEMENT AND/OR CANCELLATION OF MAJOR MOTORSPORTS EVENTS COULD ADVERSELY
AFFECT US.

      If an event scheduled for one of our facilities is postponed because of
weather or other reasons such as, for example, the general postponement of all
major sporting events in this country following the September 11th terrorism
attacks, we could incur increased expenses associated with conducting the
rescheduled event, as well as possible decreased revenues from tickets, food,
drinks and merchandise at the rescheduled event. If such an event is cancelled,
we would incur the expenses associated with preparing to conduct the event as
well as losing the revenues associated with the event, including live broadcast
revenues, to the extent such losses were not covered by insurance.

      If a cancelled event is part of the NASCAR Winston Cup Series or NASCAR
Busch Grand National Series, the amount of money we receive from television
revenues for all of our NASCAR-sanctioned events in the series that experienced
the cancellation could be reduced. This would occur if, as a result of the
cancellation, and without regard to whether the cancelled event was scheduled
for one or our facilities, NASCAR experienced a reduction in television revenues
greater than the amount scheduled to be paid to the promoter of the cancelled
event.

HIGH COMPETITION IN THE MOTORSPORTS INDUSTRY COULD HINDER OUR ABILITY TO
MAINTAIN OR IMPROVE OUR POSITION IN THE INDUSTRY.

      Motorsports promotion is a competitive industry. We compete in regional
and national markets to sponsor events, especially NASCAR-sanctioned events.
Certain of our competitors have resources that exceed ours. NASCAR is owned by
Bill France, Jr. and the France family, who also control ISC. ISC presently
holds licenses to sponsor eighteen Winston Cup races. The France family is part
owner of another track that hosts two NASCAR Winston Cup events. We are the
leading motorsports promoter in the local and regional markets served at
Atlanta, Bristol, Lowe's ("LMSC"), Las Vegas and Texas Motor Speedways and Sears
Point Raceway ("SPR"), and compete regionally and nationally with other speedway
owners to sponsor events, especially NASCAR, Championship Auto Racing Teams
("CART"), Indy Racing League ("IRL"), and National Hot Rod Association ("NHRA")
sanctioned events. We also must compete for spectator interest with all forms of
professional and amateur spring, summer, and fall sports conducted in and near
Atlanta, Bristol, Charlotte, Las Vegas, Fort Worth, and Sonoma, many of which
have resources that exceed ours. We also compete for attendance with a wide
range of other available entertainment and recreational activities. We cannot
assure you that we will maintain or improve our position in light of such
competition.

GOVERNMENT REGULATION OF CERTAIN MOTORSPORTS SPONSORS COULD NEGATIVELY IMPACT
THE AVAILABILITY OF PROMOTION, SPONSORSHIP AND ADVERTISING REVENUE FOR US.

      The motorsports industry generates significant revenue each year from the
promotion, sponsorship and advertising of various companies and their products.
Government regulation can adversely impact the availability to motorsports of
its promotion, sponsorship and advertising revenue. Advertising of the tobacco
and liquor industries is generally subject to greater governmental regulation
than advertising by other sponsors of our events. In addition, certain of our
sponsorship contracts are terminable upon the implementation of adverse
regulations.

We cannot assure you that:

      .   the tobacco industry will continue to sponsor motorsports events;
      .   suitable alternative sponsors could be located; or
      .   NASCAR will continue to sanction individual racing events sponsored
          by the tobacco industry at any of our facilities.

      Advertising and sponsorship revenue from the tobacco industry accounted
for approximately 1% of our total revenues in fiscal 2001. In addition, the
tobacco industry provides financial support to the motorsports industry through,
among other things, its purchase of advertising time and its sponsorship of
racing teams and racing series such as NASCAR's Winston Cup series.

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THE LOSS OF OUR KEY PERSONNEL COULD ADVERSELY AFFECT OUR OPERATIONS AND
GROWTH.

      Our success depends to a great extent upon the availability and
performance of our senior management, particularly O. Bruton Smith, our Chairman
and Chief Executive Officer, and H.A. "Humpy" Wheeler, our President and Chief
Operating Officer, who have managed SMI as a team for over 25 years. Their
experience within the industry, especially their working relationship with
NASCAR, will continue to be of considerable importance to us. The loss of any of
our key personnel or our inability to attract and retain key employees in the
future could have a material adverse effect on our operations and business
plans.

COSTS ASSOCIATED WITH CAPITAL IMPROVEMENTS COULD ADVERSELY AFFECT OUR
PROFITABILITY.

      Significant growth in our revenues depends, in large part, on consistent
investment in facilities. Therefore, we expect to continue to make substantial
capital improvements in our facilities to meet long-term increasing demand, to
increase spectator entertainment value, and to increase revenue. We frequently
have a number of significant capital projects underway. Numerous factors, many
of which are beyond our control, may influence the ultimate costs and timing of
various capital improvements at our facilities, including:

      .   undetected soil or land conditions;

      .   additional land acquisition costs;

      .   increases in the cost of construction materials and labor;

      .   unforeseen changes in design;

      .   litigation, accidents or natural disasters affecting the construction
          site; and

      .   national or regional economic changes.

      In addition, actual costs could vary materially from our estimates if
those factors and our assumptions about the quality of materials or workmanship
required or the cost of financing such construction were to change. Construction
is also subject to state and local permitting processes, which if changed, could
materially affect the ultimate cost.

CLOSENESS OR COMPETITIVENESS OF NASCAR WINSTON CUP SERIES CHAMPIONSHIP POINTS
RACE CAN SIGNIFICANTLY IMPACT OPERATING RESULTS.

      The closeness or competitiveness of the championship points race of the
NASCAR-sanctioned Winston Cup Series in any particular racing season can
significantly impact our operating results. These factors can affect attendance
at the Winston Cup racing events, as well as other events surrounding the
weekends such Winston Cup races are promoted, at our speedways. There can be no
assurance that attendance will not be adversely impacted by the lack of a close
or competitive championship points race in any particular season, and thereby
possibly impacting our operations and growth.


OUR REVENUES DEPEND ON THE PROMOTIONAL SUCCESS OF OUR MARKETING CAMPAIGNS.

      Similar to many companies, we spend significant amounts on advertising,
promotional and other marketing campaigns for our speedways and other business
activities. Such marketing activities include, among others, promotion of ticket
sales, luxury suite rentals, hospitality and other services for our speedway
events and facilities, and advertising associated with our wholesale and retail
distribution of racing and other sports related souvenir merchandise and
apparel, metal-energizer products, Legends Car activities, and SoldUSA Internet
auction or e-commerce activities. There can be no assurance that such
advertising, promotional and other marketing campaigns will be successful or
will generate revenues or profits.

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OUR INDEBTEDNESS COULD ADVERSELY AFFECT OUR FINANCIAL CONDITION OR OPERATIONS.

      As of December 31, 2001, we had total outstanding long-term debt of
approximately $397.3 million. Our indebtedness and the terms of the instruments
governing such indebtedness could have significant consequences such as:

      .   increasing our vulnerability to general adverse economic and industry
          conditions;
      .   limiting our ability to fund future working capital, capital
          expenditures costs and other general corporate requirements;
      .   requiring us to dedicate a substantial portion of our cash flow from
          operations to payments on our indebtedness, thereby reducing the
          availability of our cash flow to fund working capital, capital
          expenditures and other general corporate purposes;
      .   limiting our flexibility in planning for, or reacting to, changes in
          our business and the industry in which we operate;
      .   placing us at a competitive disadvantage compared to our competitors
          that have less debt; and
      .   limiting, along with the financial and other restrictive covenants in
          our indebtedness, among other things, our ability to borrow additional
          funds or engage in various transactions that might otherwise be
          beneficial to us.

      While we believe that cash flow from our operations will be sufficient to
fund payments required to service our outstanding debt, there can be no
assurance that we will always be able to meet such debt service obligations.
Should we pursue further development and/or acquisition opportunities, the
timing, size and success, as well as associated potential capital commitments of
which are unknown at this time, we may need to raise additional capital through
debt and/or equity financings. There can be no assurance that adequate debt and
equity financing will be available on satisfactory terms. Any such failure to
service our debt or inability to obtain further financing could have a negative
effect on our business and operations.

      Our long-term, senior, secured bank Credit Facility contains more
extensive and restrictive covenants and restrictions than the indenture
governing our 8 1/2 Senior Subordinated Notes due 2007. The Credit Facility
requires us to maintain specified financial ratios and satisfy certain financial
condition tests. Our ability to meet those financial ratios and tests can be
affected by events beyond our control, and there can be no assurance that we
will meet those tests. A breach of any of these covenants could result in a
default under the Credit Facility. If there is an event of default under the
Credit Facility, the lenders could elect to declare all amounts outstanding,
including accrued interest or other obligations, immediately due and payable. If
we were unable to repay those amounts, such lenders could proceed against the
collateral, if any, granted to them to secure that indebtedness, which includes
a pledge of our operating subsidiaries' equity ownership interests. The Credit
Facility and the Senior Subordinated Notes indenture contain cross-default
provisions.

OUR CHAIRMAN OWNS A MAJORITY OF SMI'S COMMON STOCK AND WILL CONTROL ANY MATTER
SUBMITTED TO A VOTE OF OUR STOCKHOLDERS.

      As of March 11, 2002, Mr. O. Bruton Smith, our Chairman and Chief
Executive Officer, owned, directly and indirectly, approximately 69.2% of the
undiluted outstanding shares of our common stock. As a result, Mr. Smith will
continue to control the outcome of substantially all issues submitted to our
stockholders, including the election of all of our directors. Mr. Smith's voting
control may discourage certain types of transactions involving an actual or
potential change in control of SMI, including transactions in which the holders
of our common stock might receive a premium for their shares over prevailing
market prices.

LIABILITY FOR PERSONAL INJURIES AND PRODUCT LIABILITY CLAIMS COULD SIGNIFICANTLY
AFFECT OUR FINANCIAL CONDITION AND RESULTS OF OPERATIONS.

      Motorsports can be dangerous to participants and to spectators. We
maintain insurance policies that provide coverage within limits that are
sufficient, in management's judgment, to protect us from material financial loss
due to liability for personal injuries sustained by persons on our premises in
the ordinary course of business. Nevertheless, there can be no assurance that
such insurance will be adequate at all times and in all circumstances.

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      On May 1, 1999, during the running of an Indy Racing League Series racing
event at LMSC, an on-track accident occurred that caused race debris to enter
the spectator seating area. On February 13, 2001, a personal injury action
related to this accident was filed against SMI, LMSC and IRL. This lawsuit seeks
unspecified damages and punitive damages related to the injuries of a minor, as
well as the medical expenses incurred and wages lost of their parents. On April
23, 2001, we filed our answer in this action. We intend to defend ourselves and
to deny the allegations of negligence as well as related claims for punitive
damages.

      On May 20, 2000, near the end of a NASCAR-sanctioned event hosted at LMSC,
a portion of a pedestrian bridge leading from its track facility to a parking
area failed. In excess of 100 people were injured to varying degrees.
Preliminary investigations indicate the failure resulted from excessive interior
corrosion resulting from improperly manufactured bridge components. Tindall
Corporation designed, manufactured and constructed the portion of the pedestrian
bridge that failed. Tindall contends that a product that Tindall purchased from
Anti-Hydro International, Inc. and that Tindall incorporated into the bridge
caused the corrosion. To date, individuals claiming injuries from the bridge
failure on May 20, 2000, filed 34 separate lawsuits. Generally, the plaintiffs
filed these negligence and wrongful death lawsuits against SMI, LMSC, Tindall
Corporation and Anti-Hydro International, Inc. seeking unspecified compensatory
and punitive damages. Discovery is proceeding in all of the cases but will not
be completed until June 2002. All of the state court lawsuits were consolidated
before one judge and are pending in Mecklenburg County, North Carolina. The
federal lawsuits are progressing under the same discovery plan that the parties
are following in the consolidated state court lawsuit. We are vigorously
defending ourselves and deny the allegations of negligence as well as the
related claims for punitive damages. Additional lawsuits involving this incident
may be filed in the future.

      We also may be subject to product liability claims, for which we are
self-insured, with respect to the manufacture and sale of Legends Cars and
Oil-Chem products. Our financial condition and results of operations would be
adversely affected to the extent claims and associated expenses exceed insurance
recoveries.

CHANGES IN INCOME TAX LAWS COULD ADVERSELY AFFECT OUR FINANCIAL CONDITION AND
RESULTS OF OPERATIONS.

      At December 31, 2001, net deferred tax liabilities totaled $102.1 million,
including deferred tax assets of $32.1 million. These net deferred tax
liabilities will likely reverse in future years and could negatively impact cash
flows from operations in the years in which reversal occurs. Management believes
realization of the deferred tax assets is more likely than not and no valuation
allowance has been recorded. However, changes in tax laws, assumptions or
estimates used in the accounting for income taxes, if significantly negative or
unfavorable, could have a material adverse effect on amounts or timing of
realization or settlement. Such effects could result in a material acceleration
of income taxes currently payable or valuation charges for realization
uncertainties, which could have a material adverse effect on our financial
condition or future results of operations.

ENVIRONMENTAL REGULATION COMPLIANCE COSTS AND LAND USE LAWS MAY NEGATIVELY
IMPACT OUR PROFITABILITY AND GROWTH.

      Solid waste land filling has occurred on and around the property at LMSC
for many years. Landfilling of general categories of municipal solid waste on
the LMSC property ceased in 1992. However, there is one landfill currently
operating at LMSC that is permitted to receive inert debris and waste from land
clearing activities ("LCID landfill"), and one LCID landfill that was closed in
1999. Two other LCID landfills on the LMSC property were closed in 1994. LMSC
intends to allow similar LCID landfills to be operated on the LMSC property in
the future. Prior to 1999, LMSC leased certain property to Allied Waste
Industries, Inc. ("Allied") for use as a construction and demolition debris
landfill (a "C&D landfill"), which can receive solid waste resulting solely from
construction, remodeling, repair or demolition operations on pavement, buildings
or other structures, but which cannot receive inert debris, land-clearing debris
or yard debris. In addition, Allied owns and operates an active solid waste
landfill adjacent to LMSC. We believe that the active solid waste landfill was
constructed in such a manner as to minimize the risk of contamination to
surrounding property.

      Portions of the inactive solid waste landfill areas on the LMSC property
are subject to a groundwater monitoring program and data is submitted to the
North Carolina Department of Environment and Natural Resources ("DENR"). DENR
has noted that data from certain groundwater sampling events have indicated
levels of certain regulated compounds that exceed acceptable trigger levels and
organic compounds that exceed regulatory

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groundwater standards. DENR has not acted to require any remedial action by us
at this time with respect to this situation. In the future, DENR could possibly
require us to take certain actions with respect to this situation that could
result in material costs being incurred by us.

      We believe that our operations, including the landfills on our property,
are in substantial compliance with all applicable federal, state and local
environmental laws and regulations. Nonetheless, if damage to persons or
property or contamination of the environment is determined to have been caused
by the conduct of our business or by pollutants used, generated or disposed of
by us, or which may be found on our property, we may be held liable for such
damage and may be required to pay the cost of investigation or remediation, or
both, of such contamination or damage. The amount of such liability, as to which
we are self-insured, could be material. State and local laws relating to the
protection of the environment also can include noise abatement laws that may be
applicable to our racing events. Changes in federal, state or local laws,
regulations or requirements, or the discovery of previously unknown conditions,
could require additional expenditures by us.

      Our development of new motorsports facilities (and, to a lesser extent,
the expansion of existing facilities) requires compliance with applicable
federal, state and local land use planning, zoning and environmental
regulations. Regulations governing the use and development of real estate may
prevent us from acquiring or developing prime locations for motorsports
facilities, substantially delay or complicate the process of improving existing
facilities, and/or increase the costs of any of such activities. For instance,
private litigants have filed a suit against Sonoma County, California seeking to
alter or revoke the county's permits granted to SPR for SPR's planned renovation
and expansion on alleged environmental issues. If the plaintiffs are successful,
our planned expansion at SPR may be adversely impacted, which may have an
adverse impact on our ability to grow revenues at SPR.

POTENTIAL ADVERSE MARKET PRICE EFFECT OF ADDITIONAL SHARES ELIGIBLE FOR
FUTURE SALE.

      The market price for our common stock could be adversely affected by the
availability for public sale of up to 33,768,000 shares held or issuable on
March 11, 2002, including:

NUMBER OF
SHARES OF
COMMON STOCK    MANNER OF HOLDING AND/OR ISSUANCE
------------    ----------------------------------------------------------------
29,000,000      Shares which are "restricted securities" as defined in Rule 144
                under the Securities Act of 1933, as amended (the "Securities
                Act") and may be resold in compliance with Rule 144. These
                shares include those held by Mr. Smith, our Chairman and Chief
                Executive Officer.

2,523,000       Issuable on exercise of options granted under the Speedway
                Motorsports, Inc. 1994 Stock Option Plan. All but 167,000 of
                such shares are registered for resale under the Securities Act.

259,000         Issuable on exercise of options granted under the Speedway
                Motorsports, Inc. Employee Stock Purchase Plan. All such shares
                are registered for resale under the Securities Act.

260,000         Issuable on exercise of options granted under the Speedway
                Motorsports, Inc. Formula Stock Option Plan. All such shares are
                registered for resale under the Securities Act.

1,726,000       Issuable on conversion of outstanding 5-3/4% Convertible
                Subordinated Debentures due 2003. All such shares are registered
                for resale under the Securities Act.


SEASONALITY OF OUR MOTORSPORTS OPERATIONS ADVERSELY AFFECTS OUR THIRD QUARTER
REVENUES.

      We have derived a substantial portion of our total revenues from
admissions and event related revenue attributable to NASCAR-sanctioned races
held in March, April, May, June, August, and October. As a result, our business
has been, and is expected to remain, highly seasonal. In 2001, our second and
fourth quarters accounted for

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68% of our total annual revenues and 93% of our total annual net income. In
2000, our second and fourth quarters accounted for 67% of our total annual
revenues and 104% of our total annual net income. We sometimes produce minimal
operating income or losses during our third quarter when we sponsor only one
Winston Cup race weekend.

      The concentration of our racing events in any quarter and the growth in
our operations with attendant increases in overhead expenses may tend to
minimize operating income or increase operating losses in other future quarters.
Also, race dates at our various facilities may from time to time be changed,
lessening the comparability of the financial results of quarters between years
and increasing or decreasing the seasonal nature of our business.

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