| Ticker: DVD | 1131 North Dupont Highway, Route 13 | |
| Exchange: New York Stock Exchange | Dover, Delaware 19901 | |
| Industry: Service | (302) 674-4600 |
| Type of Shares: | Common Shares | Filing Date: | 7/15/96 | |
| U.S. Shares: | 2,500,000 | Offer Date: | 10/3/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $18.00 - $21.00 | |
| Primary Shares: | 1,500,000 | Offer Price: | $17.00 | |
| Secondary Shares: | 1,000,000 | Gross Spread: | $1.19 | |
| Offering Amount: | $48,750,000 | Selling: | $0.72 | |
| Expenses: | $488,000 | Reallowance: | $0.10 | |
| Shares Out After: | 15,060,830 |
| Manager | Tier | Phone |
| Merrill Lynch & Co. | Lead Manager | (212) 449-4600 |
| Auditor: KPMG Accountants N.V. | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 7/31/96 | 7/31/96 | ||||
| Revenue: | $56.39 | Assets: | $43.61 | ||
| Net Income: | $9.99 | Liabilities: | $19.16 | ||
| EPS: | $0.69 | Equity: | $24.45 | ||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company owns and operates the Dover Downs International Speedway, the Dover Downs Raceway and a video lottery casino at a multi-purpose gaming and entertainment complex. The facility is located in close proximity to the major metropolitan areas of Philadelphia, Baltimore and Washington, D.C. on approximately 775 acres of land owned by the company in Dover, Delaware. Dover Downs International Speedway offers a modern, state-of-the-art, concrete super speedway for top-rated NASCAR sanctioned auto racing events with one of the largest and most comfortable seating capacities in its market. Dover Downs Raceway offers traditional harness horse racing and year-round satellite-linked pari-mutuel wagering on simulcast harness and thoroughbred horse races from regional and national tracks. The company has recently expanded into video lottery (slot) machine gambling. The video Lottery operations are managed by Caesars World, Inc., the casino gaming arm of ITT Corporation. Using Caesars expertise and marketing skills in the gaming industry, the company has created a stylish gaming facility with attractive decor, dining and nightly entertainment. The company offers a unique gaming and entertainment experience. Management believes it to be the only facility in the country that combines in one location NASCAR Winston Cup/Busch Series stock car racing, harness horse racing, pari-mutuel wagering on both live and simulcast horse races, and video (slot) machine gaming. |
| Use of Proceeds |
| The proceeds from the offering will be used to improve and further expand the company's facilities, to repay all borrowings under the company's credit facility, and for general corporate purposes. |
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