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Copyright © 2003
NASCAR Silicon Motor Speedway.
All rights reserved.
Online Privacy Statement.
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IMTS SUBSIDIARY PROVIDES CORPORATE GROWTH THROUGH REVENUE SHARING PROGRAMS
INDIANAPOLIS (December 19, 2003) - The revenue sharing locations
introduced in the second quarter of 2003 by Interactive
Motorsports and Entertainment Corporation's
wholly-owned subsidiary, Perfect Line, continue to create market
interest and site growth for the Company's patented, motion-based simulator
racing centers.
Since
introduction of the revenue share model, the Company has opened 5 new
locations around the country and is scheduled to open its 6th location
in the 1st quarter of 2004.
"The
response from the marketplace has been extremely encouraging and we're
evaluating additional locations for 2004", stated William R.
Donaldson, Chairman and CEO of IMTS. "The revenue sharing model
eliminates the burden of occupancy and labor costs and reduces the financial
risk significantly", added Donaldson.
Current
Company Locations
Company
Owned:
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Locations
|
Market
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Sq.
Ft.
|
Simulators
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|
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Minneapolis,
MN
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5,899
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12
race cars
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Charlotte,
NC
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7,865
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14
race cars
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|
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Atlanta,
GA
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5,895
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12
race cars
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|
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Houston,
TX
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5,899
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12
race cars
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|
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Birmingham,
AL
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6,188
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10
race cars
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Los
Angeles, CA
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5,000
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12
race cars
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Nashville,
TN
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6,007
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12
race cars
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|
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Chicago,
IL
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6,111
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12
race cars
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West
Nyack, NY
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5,700
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12
race cars
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Revenue
Share:
|
Locations
|
Market
|
Sq.
Ft.
|
Simulators
|
Open
|
|
NASCAR
SpeedPark
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Sevierville,
TN
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1,584
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6
race cars
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4/18/03
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|
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Myrtle
Beach, SC
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2,600
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5
race cars
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7/04/03
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|
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Monterey,
CA
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968
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4
race cars
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10/27/03
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RiverTown
Crossing
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Grand
Rapids, MI
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6,100
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8
race cars
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11/05/03
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St.
Louis, MO
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1,496
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6
race cars
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11/13/03
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Syracuse,
NY
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3,472
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8
race cars
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Scheduled
to open first quarter 2004.
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-30-
For
more information on IMTS, please visit our website at www.SMSonline.com
Forward-looking
statements
Except for historical information contained herein, the statements in
this Press Release are forward-looking statements that are made pursuant
to the Safe Harbor Provisions of the Private Securities Litigation Reform
Act of 1995. Forward-looking statements, and the business prospects of
Interactive Motorsports and Entertainment Corporation, are subject to
a number of risks and uncertainties that may cause the Company's actual
results in future periods to differ materially from the forward-looking
statements. These risks and uncertainties include, among other things,
the outlook of the economy and the effect on future revenues, access to
and cost of capital, uncertainty of new product development, competition,
and dependence on updated technology and licenses and leases.
Contact
Steve Wagoner: (800) 766-2782, InvestorRelations@SMSonline.com
Investor Relations on the web: http://www.SMSonline.com/company/inv_rel_index.asp
   
  
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