INDIANAPOLIS, Feb. 27, 2003 (PRIMEZONE) -- NASCAR Silicon Motor Speedway wants to know who the best NASCAR simulator racers in the country are.
A national championship among simulator racers in NASCAR Silicon Motor Speedway racing centers across the country will be determined in a battle that kicks off on March 7, according to an announcement by William R. Donaldson, Chairman and CEO of Interactive Motorsports and Entertainment Corp. (OTCBB:IMTS). Perfect Line, LLC, a wholly owned subsidiary of IMTS, owns and operates the unique NASCAR Silicon Motor Speedway mall-based racing centers.
A racing season consisting of 10 events will determine the top two racers in each of the 12 locations of NASCAR Silicon Motor Speedway, with the season ending September 26. A point system similar to that used by the NASCAR Winston Cup Series will be utilized, with the top two point earners from all 12 locations traveling to the NASCAR Silicon Motor Speedway national championships in Charlotte, N.C., to represent their store.
The national finals will be held in conjunction with the October 11 UAW-GM Quality 500 NASCAR Winston Cup Series event at Lowe's Motor Speedway.
The teams of two will compete against other teams in a semi-final round that will be broken into four regions of three teams each. Region 1 will consist of the two stores in New York and the Los Angeles store, while Region 2 will be composed of the two Atlanta stores and the Charlotte location. Region 3 will include Nashville, Birmingham and Houston stores, and Region 4 will include Grand Rapids, Chicago and Minneapolis.
In the semi-finals, which will consist of five races, every member of a team will earn points for every race they compete in. The team's total score for each race will be determined by adding the points of each teammate together.
The winning team from each regional semi-final will advance to the finals, which will consist of four races, and the team winning the finals will be crowned national champion. In addition, an individual champion will be crowned based on total individual points earned throughout the national finals.
Perfect Line's NASCAR Silicon Motor Speedway racing centers are the largest chain of officially licensed, NASCAR-branded interactive entertainment stores in the world, and offers its customers the most popular NASCAR merchandise available. 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. NASCAR racing is considered the number one spectator sport in America, with an estimated 75 million fans and $1.5 billion in NASCAR branded retail merchandise sales.
For more information on IMTS, please visit our website at www.SMSonline.com
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 & 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 for the economy and the effect on future revenues, access to and cost of capital, uncertainty of new product development, competition, and dependence on updated technology and licenses and leases.