INDIANAPOLIS, July 29, 2004 (PRIMEZONE) -- Six NASCAR Silicon Motor Speedway's state-of-the-art racing simulators will be installed at the NASCAR SpeedPark in the new Vaughan Mills mall in the Toronto, Ontario, Canada market, it was announced by William R. Donaldson, Chairman and CEO of Interactive Motorsports and Entertainment Corp. (OTCBB:IMTS).
The installation will be the company's fourth within a Burroughs and Chapin venue (totaling 23 simulators), and the first in the Canadian market. Current Burroughs and Chapin installations include two NASCAR SpeedParks (Sevierville, Tennessee and St. Louis Mills) and the Myrtle Beach Pavilion.
The NASCAR SpeedPark in Vaughan Mills will be located approximately 20 miles north of downtown Toronto in the city of Vaughan, and is scheduled to open in November of this year.
Perfect Line's NASCAR Silicon Motor Speedway racing centers offer its customers the most realistic race simulation in the world. Perfect Line has integrated sophisticated proprietary racing simulator technology with an exclusive NASCAR license for location-based entertainment and licenses for popular NASCAR tracks and teams.
The National Association for Stock Car Auto Racing (NASCAR), is the sanctioning body for one of America's premier sports. With 75 million fans spread throughout the U.S., NASCAR is the second-highest-rated sport on television as well as a leader in licensed product sales. NASCAR fans are the most sponsor-conscious and brand-loyal among all major professional sports, according to independent research. More Fortune 500 companies are involved in NASCAR than any other sport, and 17 of the 20 most-attended sporting events in the U.S. each year are NASCAR events.
NASCAR's three major national series are the NASCAR NEXTEL Cup Series, the NASCAR Busch Series and the NASCAR Craftsman Truck Series. These events are now broadcast in more than 150 countries. Based in Daytona Beach, Fla., with offices in Charlotte, Los Angeles, and New York, NASCAR sanctions 1,800 races at 120 tracks in 38 states. Additionally, NASCAR recently announced the formation of NASCAR Canada, a partnership with TSN that establishes a Canadian base of operation with a new office and dedicated staff in Toronto and further extends the marketing of the sport in NASCAR's largest market outside of the U.S.
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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 dependencies on updated technology and licenses and leases.