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Dover Motorsports, Inc. Declines 2012 NASCAR Sanctions for Nashville
Superspeedway

Dover Motorsports, Inc. announced today that its wholly owned subsidiary,
Nashville Superspeedway, has notified NASCAR that it will not seek any
2012 race sanctions.

Vice President and General Manager of Nashville Superspeedway, Cliff
Hawks, stated, "Nashville is a tremendous market filled with passionate
race fans. We have some extremely dedicated and talented employees who
have made this track a great destination, but the reality is, after ten
years of effort, we have to face the fact that without a Sprint Cup race
and/or a significant change in the operating model for other events, we
simply cannot continue."

Nashville has a few events left on the schedule for the remainder of 2011
that will not be impacted by today's announcement.

Denis McGlynn, President & CEO of Dover Motorsports, stated, "We deeply
appreciate all the hard work that our employees have put into making
Nashville Superspeedway such a remarkable facility, and Cliff Hawks will
remain to assist us with transition issues. We have also had years of
unrelenting support from state, county and local officials and from the
racing community - from racing fans and drivers to sponsors, team owners
and various sanctioning bodies. We are, however, at a juncture where we
must evaluate all of our options for this track, including its possible
sale."

Nashville Superspeedway first opened in 2001 and is situated on almost
1,400 acres of owned land just outside of Nashville, Tennessee on Route
840 (connecting Interstate 40 with Interstate 24). The 1.33 mile concrete
superspeedway has 25,000 permanent grandstand seats, lights for nighttime
racing, foundation work for a dirt track, short track and drag strip and
infrastructure in place to expand to 150,000 seats.

Dover Motorsports will disclose additional financial details relative to
today's announcement as soon as practicable. The Company expects to incur
a to be determined non-cash impairment charge to write down the carrying
value of long-lived assets at the facility to fair value and to incur
certain severance costs. These will be third quarter events. Dover
Motorsports provides a letter of credit to guarantee payment of certain
tax exempt revenue bonds whose proceeds were used for public
infrastructure improvements benefiting the Nashville facility. The bonds
were originally issued by the Sports Authority of the County of Wilson in
1999 in the amount of $25,900,000 and $21,000,000 of this amount remains
outstanding. Since the bonds are direct obligations of the Sports
Authority and are payable from property and sales taxes generated from the
facility, they have not historically been recorded on the Company's
consolidated balance sheet under generally accepted accounting principles.
Today's announcement does not affect these bonds and they will continue
to be paid from any applicable taxes. To the extent that the taxes are
insufficient, the Company's letter of credit will be drawn on to make up
any difference and the portion of the bonds expected to be so paid will be
recorded in the third quarter as a liability of the Company on its
consolidated balance sheet.