INDIANAPOLIS, Jan. 31, 2005 (PRIMEZONE) -- Five of NASCAR Silicon Motor Speedway's state-of-the-art racing simulators are being installed for opening this week at the Gate A Sports retail store within the Great Lakes Mall in Mentor, Ohio, it was announced by William R. Donaldson, Chairman and CEO of Interactive Motorsports and Entertainment Corp. (OTCBB:IMTS).
The IMTS subsidiary Perfect Line has entered into a three year revenue share agreement with with Paulmer Athletic LLC, the parent company of Gate A Sports, a licensed team apparel and merchandise store that will now feature five simulators and NASCAR licensed merchandise. The Great Lakes Mall is a Simon property in Mentor, Ohio, the largest suburb of Cleveland.
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.
For more information on IMTS, visit 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 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.