International Speedway Corporation Reports Financial Results for the First Quarter of Fiscal 2017

International Speedway Corporation Reports Financial Results for the First
Quarter of Fiscal 2017

Reaffirms Full Year 2017 Guidance

DAYTONA BEACH, Fla., April 04, 2017 (GLOBE NEWSWIRE) -- International Speedway
Corporation (NASDAQ Global Select Market:ISCA) (OTC Bulletin Board:ISCB)
(“ISC”) today reported financial results for its fiscal first quarter ended
February 28, 2017.

"Financial results for our first quarter exceeded expectations," stated Lesa
France Kennedy, ISC Chief Executive Officer.  "Speedweeks at Daytona was a
huge success, driven by corporate partnerships and broadcast revenues both at
historic levels and culminating with a consecutive sold-out Daytona 500. 
These achievements demonstrate the sustained value generated by our investment
in Daytona International Speedway.

"Fans were elated with changes implemented by NASCAR for 2017 Speedweeks,
including new pit road rules and stage racing, resulting in thrilling on-track
competition for all three national touring series events.  NASCAR’s rising
young stars showcased their impressive talent as Kaz Grala became the youngest
driver to reach victory lane in Daytona with a win in the Camping World Truck
Series event.  Adding to this was Monster Energy's explosion into the sport
with action-packed activation as the company transitioned to sponsor NASCAR's
premier series.

"Construction for ONE DAYTONA is progressing on schedule.  Anchor tenants,
Cobb Theatres and Bass Pro Shops, opened with great success.  The Fairfield
Inn has commenced vertical construction and is expected to be complete in the
later part of 2017.  We are excited about the opportunities ONE DAYTONA will
bring, creating synergy with the Daytona International Speedway through
enhanced customer and partner experiences and leveraging our real estate on a
year-round basis, while creating value for our shareholders.  We are targeting
substantial completion of ONE DAYTONA in late 2017.

"The redevelopment of Phoenix Raceway commenced construction in 2017 and we
signed our first official partner for the project, DC Solar.  New components
of the project will debut as soon as fall of 2017, with completion planned for
Fall 2018."

First Quarter Comparison

Total revenues for the first quarter ended February 28, 2017 were
approximately $148.0 million, compared to revenues of approximately
$142.6 million in the first quarter of fiscal 2016.  Operating income was
approximately $33.8 million during the period compared to approximately
$31.2 million in the first quarter of fiscal 2016.  Quarter-over-quarter
comparability was impacted by:

  o In the first quarter of fiscal 2017, we hosted the Ferrari World Finals at
    Daytona International Speedway ("Daytona"), for which there was no
    comparable event in fiscal 2016;

  o During the three months ended February 28, 2017, we recognized
    approximately $0.2 million, or less than $0.01 per diluted share, in
    non-recurring pre-opening costs that are included in general and
    administrative expense related to the Phoenix Redevelopment project.
    During the three months ended February 29, 2016, we recognized
    approximately $0.8 million, or $0.01 per diluted share, in non-recurring
    pre-opening costs that are included in general and administrative expense
    related to DAYTONA Rising;

  o During the three months ended February 28, 2017, we recognized
    approximately $0.6 million, or $0.01 per diluted share, of accelerated
    depreciation due to shortening the service lives of certain assets
    associated with the Phoenix Redevelopment project. There were no similar
    costs during the three months ended February 29, 2016;

  o During the three months ended February 28, 2017, we recognized a de
    minimis loss primarily attributable to demolition and/or asset relocation
    costs in connection with facility capital improvements. During the three
    months ended February 29, 2016, we recognized approximately $0.9 million,
    or $0.01 per diluted share, of similar losses in connection with capacity
    management initiatives at Richmond International Raceway ("Richmond") and
    other facility capital improvements; and

  o During the three months ended February 28, 2017, we capitalized
    approximately $0.6 million, or $0.01 per diluted share, of interest, of
    which $0.5 million, or less than $0.01 per diluted share, related to ONE
    DAYTONA and approximately $0.1 million, or less than $0.01 per diluted
    share, related to the Phoenix Redevelopment project. During the three
    months ended February 29, 2016, we capitalized approximately $0.6 million,
    or $0.01 per diluted share, of interest related to DAYTONA Rising.

Net income for the first quarter was approximately $21.3 million, or $0.47 per
diluted share, compared to approximately $19.8 million, or $0.43 per diluted
share, in the prior year period.  Excluding non-recurring, pre-opening costs
associated with the Phoenix Redevelopment project, accelerated depreciation
related to the Phoenix Redevelopment project, and capitalized interest
associated with ONE DAYTONA and the Phoenix Redevelopment project, non-GAAP
net income, as defined below, was $21.4 million, or $0.47 per diluted share,
as compared to $20.5 million, or $0.44 per diluted share, for the first
quarter of fiscal 2017 and 2016, respectively (see "GAAP to Non-GAAP
Reconciliation").

GAAP to Non-GAAP Reconciliation

The following financial information is presented below using other than U.S.
generally accepted accounting principles (“non-GAAP”) and includes certain
non-GAAP financial measures as identified in the reconciliation below. The
non-GAAP financial measures disclosed herein do not have standard meaning and
may vary from the non-GAAP financial measures used by other companies or how
we may calculate those measures in other instances from time to time. Non-GAAP
financial measures, such as EBITDA, which we interpret to be calculated as
GAAP operating income, plus depreciation, amortization and other non-cash gain
or losses, should not be considered a substitute for, or superior to, measures
of financial performance prepared in accordance with U.S. generally accepted
accounting principles ("GAAP"). Also, our “core” financial measures should not
be construed as an inference by us that our future results will be unaffected
by those items, which are excluded from our “core” financial measures.

We believe such non-GAAP information is useful and meaningful, and is used by
investors to assess the performance of our core operations, which primarily
consists of the ongoing promotions of racing events at our major motorsports
entertainment facilities. Such non-GAAP information separately identifies,
displays, and adjusts for items that are not considered to be reflective of
our continuing core operations at our motorsports entertainment facilities. We
believe that such non-GAAP information improves the comparability of the
operating results and provides a better understanding of the performance of
our core operations for the periods presented.

We use this non-GAAP information to analyze the current performance and trends
and make decisions regarding future ongoing operations. This non-GAAP
financial information may not be comparable to similarly titled measures used
by other entities and should not be considered as an alternative to operating
income, net income or diluted earnings per share, which are determined in
accordance with GAAP. The presentation of this non-GAAP financial information
is not intended to be considered independent of or as a substitute for results
prepared in accordance with GAAP. Management uses both GAAP and non-GAAP
information in evaluating and operating the business and as such deemed it
important to provide such information to investors.

The following financial information is reconciled to comparable information
presented using GAAP. Non-GAAP net income and diluted earnings per share below
are derived by adjusting amounts determined in accordance with GAAP for
certain items presented in the accompanying selected operating statement data.

The adjustments for fiscal 2016 relate to non-recurring, pre-opening costs
incurred associated with DAYTONA Rising, losses associated with the
retirements of certain other long-lived assets related to capacity management
initiatives (primarily the removal of grandstands at Richmond International
Raceway ("Richmond")) and items in connection with DAYTONA Rising, capitalized
interest related to DAYTONA Rising, and the net gain on sale of certain assets
(predominately associated with the sale of trailers in association with the
transition of merchandise operations).

The adjustments for fiscal 2017 relate to non-recurring costs incurred
associated with the Phoenix Redevelopment project, accelerated depreciation
(related to the Phoenix Redevelopment project), and capitalized interest
related to the ONE DAYTONA and Phoenix Redevelopment projects.

Amounts are in thousands, except per share data, which is shown net of income
taxes, (unaudited):

                              Three Months Ended February 29, 2016
                              Income Before Income Tax Net Income Earnings Per
                              Taxes         Effect                Share
GAAP                          $  32,141     $ 12,310   $ 19,831   $   0.43   
Adjustments:                                                       
DAYTONA Rising project        787           305        482        0.01       
Losses on retirements of      920           355        565        0.01       
long-lived assets
Capitalized interest          (627       )  (242     ) (385     ) (0.01     )
Net gain on sale of certain   (64        )  (25      ) (39      ) 0.00       
assets
Non-GAAP                      $  33,157     $ 12,703   $ 20,454   $   0.44   
                                                                   
                              Three Months Ended February 28, 2017
                              Income Before Income Tax Net Income Earnings Per
                              Taxes         Effect                Share
GAAP                          $  34,322     $ 13,049   $ 21,273   $   0.47   
Adjustments:                                                       
Phoenix Redevelopment project 158           60         98         0.00       
Accelerated depreciation      646           247        399        0.01       
Capitalized interest          (629       )  (240     ) (389     ) (0.01     )
Non-GAAP                      $  34,497     $ 13,116   $ 21,381   $   0.47   

Corporate Sales

The power of the NASCAR brand along with its brand/product loyal fan base is a
highly attractive platform for corporate participation.  The participation of
FORTUNE 500 companies in NASCAR is higher than in any other sports property
with more than one in four FORTUNE 500 companies invested in NASCAR, and
nearly half of the FORTUNE 100 listed companies leveraging NASCAR within their
marketing strategy.  The number of FORTUNE 500 companies investing in NASCAR
has grown approximately 20.0 percent since fiscal 2008.  We anticipate this
high-level of corporate interest will continue considering the appealing
characteristics of our sport such as presence in key metropolitan statistical
areas, the near year-round event schedule, our impressive portfolio of major
motorsports events and attractive NASCAR fan demographics.

For fiscal 2017, we have agreements in place for approximately 89.0 percent of
our gross marketing partnership revenue target, as compared to approximately
92.0 percent for the same period in fiscal 2016.  As of March 2017, we have
sold all but three Monster Energy NASCAR Cup race entitlements, all but two
NASCAR Xfinity series entitlements, and all except one NASCAR Camping World
Truck series entitlement. This is compared to last year at this time when we
had entitlements for one Monster Energy NASCAR Cup and two NASCAR Xfinity
entitlements either open or not announced.

External Growth, Financing-Related and Other Initiatives

Capital Allocation

We have established a long-term capital allocation plan to ensure we generate
sufficient cash flow from operations to fund our working capital needs,
capital expenditures at existing facilities, return of capital through
payments of an annual cash dividend, and repurchase of our shares under our
Stock Purchase Plan.  In addition, we have used the proceeds from offerings of
our Class A Common Stock, the net proceeds from the issuance of long-term
debt, borrowings under our credit facilities, and state and local mechanisms
to fund acquisitions and development projects.

We operate under a five-year capital allocation plan adopted by the Board of
Directors, covering fiscal years 2017 through 2021.  Components of this plan
include:

  * Capital expenditures for existing facilities up to $500.0 million from
    fiscal 2017 through fiscal 2021.  This allocation will fund a reinvestment
    at Phoenix, the first phase of redevelopment at Richmond, as well as all
    other maintenance and guest experience capital expenditures for the
    remaining existing facilities.  In 2017 we began the redevelopment of
    Phoenix (see “Phoenix Redevelopment”) with completion targeted in late
    2018, therefore, we expect spending to be somewhat front-loaded.  While
    many components of these expected projects will exceed weighted average
    cost of capital, considerable maintenance capital expenditures,
    approximately $40.0 million to $60.0 million annually, will likely result
    in a blended return on this invested capital in the mid-single digits;

  * In addition to the aforementioned $500.0 million in capital expenditures
    for existing facilities, we expect we will have an additional $95.0
    million of capital expenditures related to phase one of ONE DAYTONA. 
    Construction for ONE DAYTONA commenced in fiscal 2016.  Approximately
    $22.0 million of capital expenditures was spent as of November 30, 2016. 
    The remaining approximate $73.0 million of capital expenditures for ONE
    DAYTONA will be spent in fiscal years 2017 and 2018.  We expect this
    investment to exceed our weighted average cost of capital (see "ONE
    DAYTONA"); and,

  * Return of capital to shareholders through dividends and share repurchases
    is a significant pillar of our capital allocation.  In fiscal 2016 we
    increased our dividend approximately 58.0 percent to $0.41 per share.  We
    expect dividends to increase in 2017 and beyond, by approximately four to
    five percent annually.  For the three months ended February 28, 2017, we
    repurchased approximately 80,900 shares of ISCA on the open market at a
    weighted average share price of $37.23 for a total of approximately
    $3.0 million.  At February 28, 2017, we had approximately $203.6 million
    remaining repurchase authority under the current $530.0 million Stock
    Purchase Plan;

    For 2017 through 2021 we expect our return of capital program to be
    approximately $280.0 million, comprised of close to $100.0 million in
    total annual dividends and the balance being open market repurchase of
    ISCA shares over the five year period.  At this time we expect this
    spending to be evenly allocated per year, although we will scale the
    repurchase program to buy opportunistically.

We will continue to explore development and/or acquisition opportunities
beyond the initiatives discussed above that build shareholder value and exceed
our weighted average cost of capital.  Should additional development and/or
acquisitions be pursued, we will provide discrete information on timing,
scope, cost and expected returns of such opportunities.

The aforementioned represents certain components of our capital allocation
plan for fiscal 2017 and beyond.  This capital allocation plan is reviewed
annually, or more frequently, if necessary, based on changes in business
conditions.

Capital Expenditures

An important strategy for our future growth will come from investing in our
major motorsports facilities to enhance the live event experience and better
enable us to effectively compete with other entertainment venues for consumer
and corporate spending. To better meet our customers' expectations, we are
committed to improving the guest experience at our facilities through on-going
capital improvements that position us for long-term growth.

Capital expenditures for projects, including those related to Phoenix
Redevelopment and ONE DAYTONA, were approximately $21.6 million for the three
months ended February 28, 2017.  In comparison, the Company spent
approximately $54.6 million on capital expenditures for projects for the same
period in fiscal 2016.  For fiscal 2017, we expect capital expenditures
associated with the aforementioned capital allocation plan to range between
approximately $150.0 million and $175.0 million, which includes approximately
$100.0 million to $115.0 million for existing facilities, including the
Phoenix Redevelopment project, and an additional $50.0 million to
$60.0 million in capital expenditures related to construction for ONE DAYTONA.

We review the capital expenditure program periodically and modify it as
required to meet current business needs.

ONE DAYTONA

Since June 2013, we have pursued development of ONE DAYTONA, a premier mixed
use and entertainment destination across from the Daytona International
Speedway. We have crafted a strategy that will create synergy with the
Speedway, enhance customer and partner experiences, monetize real estate on
International Speedway Blvd and leverage our real estate on a year-round
basis.

We have approved land use entitlements for ONE DAYTONA to allow for up to 1.4
million square feet of retail/dining/entertainment, a 2,500-seat movie
theater, 660 hotel rooms, 1,350 residential units, 567,000 square feet of
additional office space and 500,000 square feet of commercial/industrial
space.

A Community Development District ("CDD") has been established for the purpose
of installing and maintaining public infrastructure at ONE DAYTONA. The CDD is
a local, special purpose government framework authorized by Chapter 190 of the
Florida Statutes for managing and financing infrastructure to support
community development. The CDD has negotiated agreements with the City of
Daytona Beach and Volusia County for a total of $40.0 million in incentives to
finance a portion of the estimated $53.0 million in infrastructure required to
move forward with the ONE DAYTONA project.

In March 2015, we announced Legacy Development, a leading national development
group, as development consultant for ONE DAYTONA.  Intensely focused on
innovative destination retail and mixed-use projects, Legacy Development is
working closely with ISC’s development staff on the project. The Legacy
Development team is a natural fit for the project, having served as the
developer for Legends Outlets Kansas City, a mixed-use retail destination
across from our Kansas Speedway.

This first phase of ONE DAYTONA will be comprised of three components: retail,
dining and entertainment (“RD&E”); hotels; and residential.

The RD&E component of phase one will be owned and managed 100.0 percent by us.
The expected total square footage for the RD&E first phase is approximately
300,000 square feet.  We expect to spend approximately $95.0 million in fiscal
2016 through 2018 on the RD&E component of ONE DAYTONA’s first phase.  Other
sources of funds will include the public incentives discussed above and land
to be contributed to the project.  In September 2016, we announced VCC had
been selected as general contractor to oversee construction of the RD&E
component of phase one including Victory Circle and the parking garage.  VCC
has an outstanding national reputation for quality and a proven track record
leading and managing the development and construction of some of the country’s
most engaging mixed-use developments.

Bass Pro Shops®, America’s most popular outdoor store, and Cobb Theatres, the
highly respected Southeastern-based exhibitor, are anchor tenants of ONE
DAYTONA.  Lease agreements have also been executed with other tenants
including P.F. Chang’s, Hy’s Toggery, Kilwins Confections, Guitar Center,
Tervis, IT’SUGAR, Jeremiah’s Italian Ice, Venetian Nail Spa, Sunglass World,
Oklahoma Joe’s BBQ, Rock Bottom Restaurant & Brewery, MidiCi: The Neapolitan
Pizza Company, Lindbergh, Designers Market, and GameTime. Leasing remains
strong and we are exceeding our leasing goals for the project.

Shaner Hotels and Prime Hospitality Group ("PHG") have been selected as hotel
partners. They have executed a franchise agreement with Marriott International
for an exclusive 145-room full service Autograph Collection hotel at ONE
DAYTONA that will be known as The DAYTONA. They are also building a 105-room
select-service Fairfield Inn & Suites by Marriott that is currently under
vertical construction. As part of the partnership agreement, our portion of
equity will be limited to our land contribution and we will share
proportionately in the profits from the joint venture.

Prime Group has been selected as the partner for ONE DAYTONA’s residential
development.  Following an extensive request for proposal process, ONE DAYTONA
chose the Florida developer based on their command of market demographics,
development experience and expert property management systems. Prime Group is
proceeding with the development in ONE DAYTONA for approximately 276 luxury
apartment rental units that will add critical mass to the overall ONE DAYTONA
campus. Similar to the hotel partnership, our portion of equity will be
limited to our land contribution and we will share proportionately in the
profits from the joint venture.

Cobb Daytona Luxury Theatres opened in December 2016, Bass Pro Shops opened in
February 2017, and the Fairfield Inn & Suites is planning an opening later in
fiscal 2017. We are targeting substantial completion of phase one in late
fiscal 2017. At stabilization we expect this first phase of ONE DAYTONA to
deliver annual revenue and EBITDA of approximately $12.0 million and
approximately $9.0 million, respectively, and deliver an unlevered return
above our weighted average cost of capital. We expect to add leverage to ONE
DAYTONA’s phase one post-stabilization.

Total capital expenditures for ONE DAYTONA, excluding capitalized interest and
net of public incentives, are expected to be approximately $95.0 million. From
inception, through February 28, 2017, capital expenditures totaled
approximately $38.2 million, exclusive of capitalized interest and labor.  At
this time, there is no project specific financing in place for ONE DAYTONA. 
Ultimately, we expect to secure financing for the project upon stabilization. 
However, accounting rules dictate that we capitalize a portion of the interest
on existing outstanding debt during the construction period. From inception
through February 28, 2017, we recorded approximately $2.1 million of
capitalized interest related to ONE DAYTONA, and expect approximately
$3.5 million to $4.0 million to be recorded by completion of construction.

Any future phases will be subject to prudent business considerations for which
we will provide discrete cost and return disclosures.

Phoenix Redevelopment

On November 30, 2016, we announced our Board of Directors had approved a
multi-year redevelopment project to elevate the fan experience at Phoenix, the
company’s 52-year-old motorsports venue. The redevelopment is expected to
focus on new and upgraded seating areas, vertical transportation options, new
concourses, enhanced hospitality offerings and an intimate infield experience
with greater accessibility to pre-race activities.

The redevelopment of Phoenix is included in our aforementioned $500.0 million
capital allocation plan covering fiscal years 2017 through 2021. The
redevelopment project at Phoenix is expected to cost approximately
$178.0 million, including maintenance capital, before capitalized interest. 
Okland Construction ("Okland") has been selected as general contractor of the
project.  Effective November 30, 2016, Phoenix entered into a Design-Build
Agreement with Okland. The Design-Build Agreement obligates Phoenix to pay
Okland approximately $136.0 million for the completion of the work described
in the Design-Build Agreement. This amount is a guaranteed maximum price to be
paid for the work, which may not change absent a requested change in the scope
of work by Phoenix.

Based on the Company's current plans for Phoenix, it has identified existing
assets that are expected to be impacted by the redevelopment and will require
accelerated depreciation, or losses on asset retirements, totaling
approximately $3.4 million in non-cash charges over the approximate 22-month
project time span.  Upon completion, the redevelopment is expected to provide
a full fiscal year incremental lift in Phoenix's EBITDA of approximately $8.5
million to $9.0 million. Construction commenced in early 2017 and is expected
to be complete in fall of 2018.

Despite the Company not anticipating the need for additional long-term debt to
fund this project, accounting rules dictate that the Company capitalize a
portion of the interest on existing outstanding debt during the construction
period.  The Company estimates it will record approximately $7.5 million to
$8.0 million of capitalized interest from fiscal 2017 through fiscal 2018.

For fiscal 2017, we expect capital expenditures related to the redevelopment
of Phoenix to total approximately $75.0 million to $80.0 million and
capitalized interest of approximately $2.2 million.  As of February 28, 2017,
we have incurred capital expenditures related to the redevelopment of Phoenix,
exclusive of capitalized interest and labor, of approximately $11.9 million,
and approximately $0.1 million of capitalized interest.

Hollywood Casino at Kansas Speedway

Kansas Entertainment, LLC, (“Kansas Entertainment”) a 50/50 joint venture of
Penn Hollywood Kansas, Inc. (“Penn”), a subsidiary of Penn National Gaming,
Inc. and Kansas Speedway Development Corporation (“KSDC”), a wholly owned
indirect subsidiary of ISC, operates the Hollywood-themed casino and branded
destination entertainment facility, overlooking turn two at Kansas Speedway.
Penn is the managing member of Kansas Entertainment and is responsible for the
operations of the casino.

We have accounted for Kansas Entertainment as an equity investment in the
consolidated financial statements as of February 29, 2016 and February 28,
2017. The Company's 50.0 percent portion of Kansas Entertainment’s net income,
which is before income taxes as the joint venture is a disregarded entity for
income tax purposes, was approximately $4.0 million and $3.6 million for the
three months ended February 29, 2016 and February 28, 2017, respectively, and
is included in Equity in net income from equity investments in the
consolidated statements of operations.

Pre-tax distributions from Kansas Entertainment for the three months ended
February 28, 2017, totaling approximately $4.3 million, consist of
approximately $3.9 million received as a distribution from its profits,
included in net cash provided by operating activities on the Company's
consolidated statement of cash flows, with the remaining approximately $0.3
million received, recognized as a return of capital from investing activities
on the Company's consolidated statement of cash flows. Pre-tax distributions
from Kansas Entertainment for the three months ended February 29, 2016,
totaling $4.5 million, consisted of approximately $4.3 million received as a
distribution from its profits, included in net cash provided by operating
activities on the Company's consolidated statement of cash flows, with the
remaining approximate $0.2 million received, recognized as a return of capital
from investing activities on the Company's consolidated statement of cash
flows.

For fiscal 2017, cash distributions from the casino joint venture are
estimated to be approximately $25.0 million to $26.0 million.

Fiscal 2017 Financial Outlook

ISC’s reported quarterly and year to date earnings are presented under GAAP. 
In an effort to enhance the comparability and understandability of our forward
looking financial guidance, we adjust for certain non-recurring items that
will be included in our future GAAP reporting to provide information that we
believe best represents our expectations for our core business performance.

For fiscal 2017, our non-GAAP guidance excludes:

  o any non-recurring pre-opening income statement impact attributable to the
    Phoenix Redevelopment project, including accelerated depreciation and
    non-capitalized costs and losses associated with retirements of certain
    other long-lived assets, partially offset by capitalized interest expense;

  o any non-recurring pre-opening and non-capitalized costs or charges related
    to our ONE DAYTONA development, partially offset by capitalized interest
    expense;

  o start up and/or financing costs should our Hollywood Casino at Kansas
    Speedway joint venture pursue construction of an adjacent hotel;

  o any costs or income related to legal settlements;

  o gain or loss on sale of other assets;

  o accelerated depreciation and future loss on retirements, mostly non-cash,
    or relocation of certain long-lived assets, which could be recorded as
    part of capital improvements other than Phoenix Redevelopment resulting
    from removal of assets prior to the end of their actual useful life.

ISC is reiterating its previously announced 2017 full year non-GAAP guidance. 
The earnings outlook is our best estimate of financial results for fiscal
2017.

  * Revenue: $660.0 million to $670.0 million

  * EBITDA margin: 31.5% to 32.5%

  * Operating margin: 15.5% to 17.0%

  * Effective tax rate:  38.0% to 38.5%

  * Diluted earnings per share: $1.50 to $1.65

The Company's guidance for EBITDA is to range between $208.0 million to
$218.0 million.  Incremental to ISC's EBITDA estimate are pre-tax cash
distributions from its equity investment in the Hollywood Casino, estimated to
be approximately $25.0 million to $26.0 million.  Total capital expenditures
for 2017 are estimated between approximately $150.0 million to $175.0 million,
which includes capital expenditures for existing facilities, including Phoenix
Redevelopment, and ONE DAYTONA.

In closing, Ms. France Kennedy stated, "We maintain a solid financial
position, developed over many years, that affords us the ability to follow our
disciplined capital allocation strategy and maintain our leadership position
in the motorsports industry.  We have extended our capital allocation plan
through fiscal 2021, demonstrating our ongoing commitment to building
long-term value.  For the future, we are well positioned to balance the
strategic capital needs of our business with returning capital to our
shareholders."

Conference Call Details

The management of ISC will host a conference call with investors at 9:00 a.m.
Eastern Time.  To participate, dial toll free (888) 694-4641 five to ten
minutes prior to the scheduled start time and request to be connected to the
ISC earnings call, ID number 99884261.

A live Webcast will also be available at that time on the Company's Web site,
www.internationalspeedwaycorporation.com, under the “Investor Relations”
section.  A replay will be available two hours after the end of the call
through midnight Tuesday, April 18, 2017.  To access, dial (855) 859-2056 and
enter the code 99884261, or visit the “Investor Relations” section of the
Company's Web site.

International Speedway Corporation is a leading promoter of motorsports
activities, currently promoting more than 100 racing events annually as well
as numerous other motorsports-related activities.  The Company owns and/or
operates 13 of the nation's major motorsports entertainment facilities,
including Daytona International Speedway® in Florida (home of the DAYTONA
500®); Talladega Superspeedway® in Alabama; Michigan International Speedway®
located outside Detroit; Richmond International Raceway® in Virginia; Auto
Club Speedway of Southern California^SM near Los Angeles; Kansas Speedway® in
Kansas City, Kansas; Phoenix International Raceway® in Arizona; Chicagoland
Speedway® and Route 66 Raceway^SM near Chicago, Illinois;  Homestead-Miami
Speedway^SM in Florida; Martinsville Speedway® in Virginia; Darlington
Raceway® in South Carolina; and Watkins Glen International® in New York.

The Company also owns and operates Motor Racing Network^SM, the nation's
largest independent sports radio network and Americrown Service
Corporation^SM, a subsidiary that provides catering services, and food and
beverage concessions.  In addition, the Company owns ONE DAYTONA, the retail,
dining and entertainment development across from Daytona International
Speedway, and has a 50.0 percent interest in the Hollywood Casino at Kansas
Speedway.  For more information, visit the Company's Web site at
www.internationalspeedwaycorporation.com.

Statements made in this release that express the Company's or management's
beliefs or expectations and which are not historical facts or which are
applied prospectively are forward-looking statements. It is important to note
that the Company's actual results could differ materially from those contained
in or implied by such forward-looking statements. The Company's results could
be impacted by risk factors, including, but not limited to, weather
surrounding racing events, government regulations, economic conditions,
consumer and corporate spending, military actions, air travel and national or
local catastrophic events. Additional information concerning factors that
could cause actual results to differ materially from those in the
forward-looking statements is contained from time to time in the Company's SEC
filings including, but not limited to, the 10-K and subsequent 10-Qs. Copies
of those filings are available from the Company and the SEC. The Company
undertakes no obligation to release publicly any revisions to these
forward-looking statements that may be needed to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events. The inclusion of any statement in this release does not
constitute an admission by International Speedway or any other person that the
events or circumstances described in such statement are material.

                               (Tables Follow)

Consolidated Statements of Operations 
(In Thousands, Except Share and Per Share Amounts)
                                          
                                         Three Months Ended
                                         February 29, 2016   February 28, 2017
                                         (Unaudited)
REVENUES:                                                     
Admissions, net                          $    31,855         $    31,335     
Motorsports and other event related      98,723              103,512         
Food, beverage and merchandise           8,316               9,142           
Other                                    3,736               3,965           
                                         142,630             147,954         
EXPENSES:                                                     
Direct:                                                       
   NASCAR event management fees          28,080              28,976          
   Motorsports and other event related   24,880              26,055          
   Food, beverage and merchandise        6,246               6,025           
Other operating expenses                 148                 202             
General and administrative               26,144              26,347          
Depreciation and amortization            25,046              26,501          
Losses on asset retirements              920                 30              
                                         111,464             114,136         
Operating (loss) income                  31,166              33,818          
Interest income                          30                  117             
Interest expense                         (3,089         )    (3,252         )
Equity in net income from equity         3,970               3,627           
investments
Other                                    64                  12              
(Loss) income before income taxes        32,141              34,322          
Income taxes                             12,310              13,049          
Net (loss) income                        $    19,831         $    21,273     
                                                              
(Loss) earnings per share:                                    
Basic and diluted                        $    0.43           $    0.47       
                                                              
Basic weighted average shares            46,620,549          45,064,847      
outstanding
                                                              
Diluted weighted average shares          46,634,970          45,079,781      
outstanding
                                                              
Comprehensive (loss) income              $    19,996         $    21,440     

Consolidated Balance Sheets
(In Thousands, Except Share and Per Share Amounts)
 
                                 November 30,    February 29,    February 28,
                                 2016            2016            2017
                                 (Unaudited)
ASSETS                                                            
Current Assets:                                                   
Cash and cash equivalents        $ 263,727       $ 190,092       $ 278,658    
Receivables, less allowance      35,445          107,183         101,810      
Income taxes receivable          189             —               —            
Prepaid expenses and other       13,759          71,262          19,255       
current assets
Total Current Assets             313,120         368,537         399,723      
                                                                  
Property and Equipment, net      1,455,506       1,464,586       1,448,373    
Other Assets:                                                     
Equity investments               92,392          102,719         91,770       
Intangible assets, net           178,629         178,625         178,633      
Goodwill                         118,791         118,791         118,791      
Other                            14,222          4,697           15,863       
                                 404,034         404,832         405,057      
Total Assets                     $ 2,172,660     $ 2,237,955     $ 2,253,153  
LIABILITIES AND SHAREHOLDERS’                                     
EQUITY
Current Liabilities:                                              
Current portion of long-term     $ 3,404         $ 3,088         $ 3,419      
debt
Accounts payable                 29,770          40,792          28,584       
Deferred income                  39,416          100,354         95,056       
Income taxes payable             —               7,945           13,373       
Other current liabilities        22,728          18,817          18,315       
Total Current Liabilities        95,318          170,996         158,747      
                                                                  
Long-Term Debt                   259,416         262,640         259,279      
Deferred Income Taxes            409,585         387,416         407,679      
Long-Term Deferred Income        5,988           7,122           5,733        
Other Long-Term Liabilities      1,993           2,042           2,188        
Commitments and Contingencies    —               —               —            
Shareholders’ Equity:                                             
Class A Common Stock, $.01 par
value, 80,000,000 shares         249             262             248          
authorized
Class B Common Stock, $.01 par
value, 40,000,000 shares         197             199             197          
authorized
Additional paid-in capital       437,292         448,110         437,248      
Retained earnings                965,281         962,326         984,326      
Accumulated other                (2,659      )   (3,158      )   (2,492      )
comprehensive loss
Total Shareholders’ Equity       1,400,360       1,407,739       1,419,527    
Total Liabilities and            $ 2,172,660     $ 2,237,955     $ 2,253,153  
Shareholders’ Equity

Consolidated Statements of Cash Flows
(In Thousands)
                                          
                                         Three Months Ended
                                         February 29, 2016   February 28, 2017
                                         (Unaudited)
OPERATING ACTIVITIES                                          
Net income                               $   19,831          $   21,273     
Adjustments to reconcile net income to
net cash provided by operating                                
activities:
  Depreciation and amortization          25,046              26,501         
  Stock-based compensation               749                 741            
  Amortization of financing costs        442                 422            
  Interest and other consideration
received on Staten Island note           1,162               —              
receivable
  Deferred income taxes                  51,078              (2,009        )
  Income from equity investments         (3,970        )     (3,627        )
  Distribution from equity investee      4,257               3,917          
  Loss on retirements of long-lived      911                 30             
assets, non-cash
  Other, net                             (20           )     2              
  Changes in operating assets and                             
liabilities:
    Receivables, net                     (65,071       )     (66,596       )
    Prepaid expenses and other assets    (10,438       )     (6,931        )
    Accounts payable and other           (4,489        )     (3,197        )
liabilities
    Deferred income                      62,264              55,385         
    Income taxes                         8,518               13,562         
Net cash provided by operating           90,270              39,473         
activities
INVESTING ACTIVITIES                                          
Capital expenditures                     (54,589       )     (21,592       )
Distribution from equity investee        243                 333            
Other, net                               48                  (5            )
Net cash used in investing activities    (54,298       )     (21,264       )
FINANCING ACTIVITIES                                          
Payment of long-term debt                (207          )     (221          )
Deferred financing fees                  —                   (43           )
Reacquisition of previously issued       (6,221        )     (3,014        )
common stock
Net cash used in financing activities    (6,428        )     (3,278        )
Net increase in cash and cash            29,544              14,931         
equivalents
Cash and cash equivalents at beginning   160,548             263,727        
of period
Cash and cash equivalents at end of      $   190,092         $   278,658    
period

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