Looking For More Income, Las Vegas Motor Speedway Breaks Out Four-Wide Drag Racing Next Month

By ALAN SNEL

LVSportsBiz.com

 

It’s no secret NASCAR’s attendance is sliding and business documents filed by publicly-traded Speedway Motorsports Inc. (SMI) — which owns Las Vegas Motor Speedway — showed SMI’s net income and admission and event revenues were down for the same Jan.-Sept nine-month period from 2016 to 2017.

 

But on race day here at Las Vegas Motor Speedway, Marcus Smith soaked up the 55-degree, sunny weather and scanned the fans who were gathered in the Speedway’s Neon Garage. He thought more young fans and millennials were attending NASCAR events and he also pointed out the Speedway will benefit from a non-NASCAR capital improvement.

 

 

Speedway Motorsports has invested in expanding its drag race facility called The Strip at Las Vegas Motor Speedway from two to four lanes wide.

 

In fact, four-wide drag racing at Las Vegas Motor Speedway begins next month at the National Hot Rod Association’s event in Las Vegas April 6-8.

 

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The Speedway will be the sole four-wide drag racing venue in the West. SMI’s Charlotte Motor Speedway has had four-wide drag racing since 2008, Smith told LVSportsBiz.com before Sunday’s Pennzoil 400 267-lap race.

 

NHRA’s Antron Brown, a former three-time world champion who served a today’s honorary pace car driver, welcomed the expansion from two to four lanes at Las Vegas Motor Speedway.

 

“It was something we needed in the West,” Brown told LVSportsBiz.com. “It takes a different mindset to go four wide. It throws a kink and challenge in there and I love being challenged. It raises the bar.”

 

During the FOX telecast of Sunday’s Pennzoil 400 race, the cameras showed the newly expanded four-wide venue on the sprawling grounds that are 20 miles from the heart of the Las Vegas Strip.

 

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Las Vegas Motor Speedway also unveiled new premium seating areas in two loges and three remodeled clubs.

 

Speedway Motorsports is investing in the Las Vegas property because the track facility is hosting a second tripleheader event in September.

 

While Speedway Motorsports earnings reports show admission and event revenues are down, the North Carolina-based company does rely on NASCAR broadcast rights income as its biggest since source of revenues.

 

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Follow LVSportsBiz.com on Twitter, Instagram and Facebook. Contact LVSportsBiz.com founder/writer Alan Snel at asnel@LVSportsBiz.com

 

 

 

 

 

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