Dover Motorsports, Inc. announced that it has received notification from the New York Stock Exchange that it has regained compliance with continued listing standards. The confirmation of reinstatement is the result of the company’s performance against a plan submitted to the NYSE and its compliance with the exchange’s minimum market capitalization standard.
On November 4, 2011, the Company was notified that it had fallen below the listing standards which require that either its average global market capitalization be not less than $50 million over a consecutive 30 trading-day period, or its total stockholders’ equity be not less $50 million. Based on the closing price of the company’s shares as of May 3, 2013, average global market capitalization for the last 30 trading-day period was approximately $75 million.
The company operates one track in Dover and another in Nashville after closing or selling other tracks in recent years. The “Monster Mile” features two NASCAR weekends each year, including one coming up at the end of this month. The Nashville track no longer holds events, but is available for testing.
