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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): June 2, 1999
SPEEDWAY MOTORSPORTS, INC.
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(Exact name of the Registrant as Specified in Charter)
Delaware 1-13582 51-0363307
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(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
U.S. Highway 29 North, Concord, North Carolina 28026
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (704) 455-3239
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(Former Name of Former Address, if Changed Since Last Report)
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<PAGE>
ITEM 5. OTHER EVENTS
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On June 2, 1999, Speedway Motorsports, Inc. (the "Company") issued a press
release that is attached to this report on Form 8-K as Exhibit 99.1.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
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(c) Exhibits
Exhibit Number Description
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99.1 Press Release dated June 2, 1999
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
SPEEDWAY MOTORSPORTS, INC.
Date: June 2, 1999 By: /s/ William R. Brooks
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William R. Brooks
Vice President, Chief Financial
Officer, Treasurer and Director
2
Exhibit 99.1
Contact: Lauri Wilks
704-455-3239
SPEEDWAY MOTORSPORTS CLOSES ON $250 MILLION
CREDIT FACILITY
CONCORD, NC (June 2, 1999)--On May 28th Speedway Motorsports (NYSE: TRK)
closed on a $250 million Senior Secured Revolving Credit Facility with a group
of financial institutions led by Bank of America. The Revolving Credit Facility
replaces the Company's existing $270 million short-term bank facility and bridge
loan undertaken in connection with the December 1998 acquisition of Las Vegas
Motor Speedway. The new credit facility matures in 2004 and bears interest at
the Company's option, of LIBOR plus 0.5% to 1.25% or the greater of the prime
lending rate of NationsBank N.A. or the Federal Funds rate plus 0.5%.
Speedway Motorsports is a leading marketer and promoter of motorsports
entertainment in the United States. SMI owns and operates the following premier
facilities: Atlanta Motor Speedway, Bristol Motor Speedway, Lowe's Motor
Speedway at Charlotte, Las Vegas Motor Speedway, Sears Point Raceway and Texas
Motor Speedway. SMI also provides event food, beverage, and souvenir
merchandising services through its Finish Line Event subsidiary, and
manufactures and distributes smaller-scale, modified racing cars through its
600 Racing subsidiary.
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