Net income up, but admission revenue down for Speedway Motorsports Inc.

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Speedway Motorsports Inc. reported a net income of $31.1 million in 2014 compared to a loss of $6.5 million in 2013, the company stated in a SEC filing Wednesday.

The company issued its report for the fourth quarter of last year and for all of 2014.

That came as the company, which owns eight tracks that host NASCAR Sprint Cup races, reported admission revenues declined 5 percent from 2013 because of lower overall attendance. Speedway Motorsports stated that poor weather at its Bristol and Texas tracks last spring impacted those numbers.

Asked about the trend in admissions revenue during a conference with industry analysts Wednesday morning, Bill Brooks, SMI’s chief financial officer, said: “We haven’t got definitive proof yet that the admissions or sponsorships have bottomed. The other revenue sources seem to be fairly stable.

“We are optimistic that if there is decline in those categories of revenues that they would be similar to what we experienced.’’

SMI removed seats at New Hampshire Motor Speedway, Atlanta Motor Speedway and Charlotte Motor Speedway last year.

SMI estimates 2015 revenues to be between $450-$500 million (the company reported total revenue of $484.3 million in 2014). SMI estimates that after tax income will be between $37-$45 million in 2015.

Bruton Smith, executive chairman of Speedway Motorsports, said in a statement: “We believe SMI’s future is brighter than it has been for quite some time. SMI’s financial position continues to strengthen. NASCAR’s improvements to our sport over the last few years are significant, and are showing positive benefits in renewed racing excitement, fan appeal and expanding media coverage.

“The media landscape is evolving, driven in part by the new FOX Sports Media Group and NBC Sports Group broadcasting contracts and NASCAR’s innovative marketing programs to capture the next generation of race fans. The new 10-year television broadcasting agreements though 2024 contain an annual average revenue increase of approximately 46 percent, reflecting the high quality of our sport’s entertainment content and long-term marketing appeal. We believe the many sizable and untapped demographics in motorsports, and the marketing initiatives of SMI, NASCAR and the media powerhouses, provide us and our NASCAR industry many long-term growth opportunities.”

NASCAR Power Rankings: Kevin Harvick still No. 1 after quiet Vegas

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Kevin Harvick didn’t have a flashy night Sunday in Las Vegas, but it didn’t keep him from retaining the No. 1 spot in this week’s NASCAR Power Rankings.

After winning the Bristol night race, Harvick finished in the top 10 in the first two stages in Vegas before placing 10th at race’s end.

Kurt Busch’s win at his home track vaulted him into the top 10 as 12 drivers received votes.

More: Playoff standings after Las Vegas

Here is this week’s NASCAR Power Rankings:

1. Kevin Harvick (Last week No. 1): In the last eight races he’s won three times and finished outside the top 10 only twice.

2. Martin Truex Jr. (Last week No. 5): Placed fourth for his 11th top-five finish in the last 14 races.

3. Alex Bowman (Last week unranked): Finished fifth for his second top five and fifth top-10 finish in the last six races.

4. Denny Hamlin (Last week unranked): Left Vegas with a third-place finish to snap a three-race streak of finishing outside the top 10.

5. Kurt Busch (Last week unranked): Snapped a 46-race winless streak with his victory and advanced to the Round of 8.

6. Kyle Busch (Last week No. 3): Finished sixth after a “dismal” night. He has four consecutive top 10s.

7. Brad Keselowski (Last week No. 5): Finished 13th to give him two finishes outside the top 10 since he won at Richmond.

8. Chase Briscoe (Last week unranked): Opened the Xfinity playoffs with his second consecutive win.

8. Chase Elliott (Last week No. 2): Led 73 laps, but had to settle for a 22nd-place finish in Vegas.

8. Joey Logano (Last week No. 3): Finished 14th for his second straight finish outside the top 10.

Also receiving votes: Erik Jones and Chris Buescher.

NASCAR announces changes to Kansas playoff weekend

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Citing “programming changes,” NASCAR announced shifts in the race dates and start times for its visit next month to Kansas Speedway.

The Xfinity, ARCA and Truck Series races have been shifted, while the Cup race remains at 2:30 p.m. ET Sunday, Oct. 18.

The biggest move is the Truck Series race shifting from Friday night to Saturday afternoon.

Here are the changes.

Friday, Oct. 16, 8:30 p.m. ETARCA Menards Series on FS1 or FS2; network TBD at a later date (previously at 10 p.m. ET)

Saturday, Oct. 17, 4 p.m. ETTruck Series on FOX (previously Friday, Oct. 16 at 7 p.m. ET on FS1)

Saturday, Oct. 17, 7 p.m. ET Xfinity on NBCSN (previously 3 p.m. ET on NBCSN)

 

Xfinity Series playoff standings after Las Vegas

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Chase Briscoe opened the Xfinity Series playoffs by earning his second consecutive win.

His victory Saturday at Las Vegas Motor Speedway gives him 57 playoff points and an automatic spot in the Round of 8.

Harrison Burton holds the final transfer spot. He has a two-point advantage over Ross Chastain.

Behind Chastain below the cutline are Michael Annett (-10 points), Riley Herbst (-14) and Brandon Brown (-20).

Below is the full Xfinity Series playoff standings going into Saturday’s race at Talladega (4:30 p.m. ET on NBCSN).

Drivers in red are below the cutline to advance. Drivers in yellow are in the remaining playoff spots.

Xfinity Series playoff standings

Cup playoff standings after Las Vegas

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Kurt Busch flipped the script on the Cup playoff standings with his win Sunday at Las Vegas Motor Speedway.

He entered the Round of 12 as the last driver in the playoff standings, but is the first driver to clinch a spot in the Round of 8.

Replacing Busch in the bottom spot of the playoff standings is Austin Dillon. He is 32 points behind Alex Bowman, who holds the final cutoff spot.

Behind Bowman is Kyle Busch (-9 points), Clint Bowyer (-20), Aric Almirola (-27) and Dillon.

“Obviously, the 1 car (Kurt Busch) was not a car that we needed to win a race,” Clint Bowyer said after Sunday’s race. “It’s been a hell of a battle back there with cars that are kind of in the same wheelhouse as far as points-wise. (Kurt Busch) winning changes that landscape quite a bit, but we’re only 20 points out.”

Here is the full playoff standings entering Sunday’s playoff race at Talladega Superspeedway (2 p.m. ET on NBC).

Drivers in red are below the cutline to advance to the Round of 8. Drivers in yellow hold the remaining available playoff spots.

Cup playoff standings