Saint Andrews Golf Corp. and NASCAR announce exclusive license agreement for NASCAR theme park

Business Wire,  Oct 16, 1995  

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LAS VEGAS--(BUSINESS WIRE)--Oct. 16, 1995--Saint Andrews Golf Corp. (NASDAQ:SAGC) announced signing an exclusive license agreement with The National Association for Stock Car Auto Racing Inc., NASCAR, for the operation of SpeedParks as a part of Saint Andrews' All-American SportPark, or as a stand-alone All-American NASCAR SpeedPark.

The company has rights to identify each SpeedPark as "the only GoKart Facility Officially Licensed by NASCAR" and is entitled to utilize NASCAR trademarks, service marks and other NASCAR registrations.

The initial term of the license is through Dec. 31, 1999, and can be extended.

The NASCAR SpeedPark is the first and only Officially Licensed NASCAR Go Kart facility in the world. The NASCAR SpeedPark is Saint Andrews' original concept and has the look and feel of one of NASCAR's Super Speedways - like Daytona and the famed Watkins Glen road course.

The two different race track formats (oval and road course) have a capacity of 100 cars for both tracks with instant capacity of 25 per track. The races are staged for drivers who are 54 inches in height and taller. The driver has the option to drive either a NASCAR Stock Kart or a NASCAR SuperTruck Kart. Both are identical replicas engineered and manufactured by Roush Racing out of Detroit.

Each driver competes against the clock, as well as experiences the physical challenge of competition, complete with banked turns on the 450-linear-foot oval track and undulating turns on the 1,000-linear-foot road course.

The winner of each race will have the opportunity to celebrate in Victory Lane/Winners' Circle, complete with pictures and video footage for purchase. The NASCAR SpeedPark will be comprised generally of the Garage Experience, the Pit Row/Pit Stop Challenge, the Infield RV Park, Victory Lane, Winners' Circle, Oval Track, Road Course, NASCAR Jr. Track, The Tailgater Picnic Grounds, and the NASCAR Retail Trailer Merchandising Experience. SpeedParks will be operated at indoor and outdoor locations.

Ron Boreta, president and chief executive officer of Saint Andrews, said: "We are proud of completion of this final agreement with NASCAR. The plan fits nicely into the company's overall designs to develop a live-action theme park that provides a unique and highest quality sports entertainment experience for our customers.

"Agreements already in place with Major League Baseball Properties; with Callaway Golf Co. (NYSE:ELY) and, now, with NASCAR are enabling the company to aggressively pursue negotiations for All-American SportPark sites in some of the highest profile retail projects in the United States and internationally that are planned for opening in the next several years."

Saint Andrews Golf Corp. plays a major role in the retail golf and family entertainment industries. The company owns All-American SportPark, a live-action sports entertainment complex that will feature Major League Baseball Slugger Stadium, a full-size replica of Major League ballparks, for batting and baseball training. Saint Andrews Golf Corp. has been granted an exclusive license from Major League Baseball Properties to own and operate Slugger Stadiums.

The company also plans to build Major League Baseball Slugger Stadiums in eight other cities by 1998. All American SportPark will feature a Callaway Golf Country Club Driving Range, an exclusive arrangement with Callaway Golf Co. Other attractions include NAMCO Play of the Day Video Arcade, a multi-purpose sports arena, food courts, meeting rooms, and a public plaza for various civic and cultural events.

The company is in negotiations for two specific but unannounced All-American SportPark sites in southern California and Las Vegas. It has announced participation in the Mills Corp.-Simon Property Group joint venture development of future "Mills" in up to eight cities, the first planned for Chandler, Ariz., in 1996.

Saint Andrews Golf Corp. also has some 55 existing franchise store outlets that operate in 19 states and two foreign countries under the name of Las Vegas Discount Golf & Tennis.

CONTACT: Saint Andrews Golf Corp., Las Vegas

702/798-7777

or

Wall Street Services Inc., Denver

303/220-0265

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