Dover Motorsports (DVD) 10-Q 2 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Oct. 31, 2016
Entity Registrant Name	DOVER MOTORSPORTS INC
Entity Central Index Key	1,017,673
Document Type	10-Q
Document Period End Date	Sep. 30, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Smaller Reporting Company
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Common Stock | Common Stock
Entity Common Stock, Shares Outstanding		18,291,360
Common Stock | Class A Common Stock
Entity Common Stock, Shares Outstanding		18,510,975

CONSOLIDATED STATEMENTS OF (LOS

CONSOLIDATED STATEMENTS OF (LOSS) EARNINGS AND COMPREHENSIVE (LOSS) INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Revenues:
Admissions	$ 82		$ 3,764	$ 4,212
Event-related	285	$ 132	4,966	4,823
Broadcasting			17,022	16,486
Other	2	1	9	2
Total revenues	369	133	25,761	25,523
Expenses:
Operating and marketing	1,387	1,140	16,440	15,878
General and administrative	1,799	1,748	5,573	5,499
Loss on disposal of long-lived assets				40
Depreciation	828	1,410	2,591	4,377
Total expenses	4,014	4,298	24,604	25,794
Income from assets held for sale		1,867		2,900
Operating (loss) earnings	(3,645)	(2,298)	1,157	2,629
Interest expense, net	(41)	(47)	(166)	(280)
(Provision) benefit for contingent obligation	(17)	(12)	(73)	90
Other income	24		16	1
(Loss) earnings before income taxes	(3,679)	(2,357)	934	2,440
Income tax benefit (expense)	1,512	961	(378)	(946)
Net (loss) earnings	(2,167)	(1,396)	556	1,494
Unrealized gain (loss) on available-for-sale securities, net of income taxes	5	(25)	15	(21)
Change in net actuarial loss and prior service cost, net of income taxes	20	18	55	56
Comprehensive (loss) income	$ (2,142)	$ (1,403)	$ 626	$ 1,529
Net (loss) earnings per common share:
Basic (in dollars per share)	$ (0.06)	$ (0.04)	$ 0.02	$ 0.04
Diluted (in dollars per share)	$ (0.06)	$ (0.04)	$ 0.02	$ 0.04

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Current assets:
Cash	$ 215,000	$ 1,000
Accounts receivable	521,000	173,000
Inventories	16,000	72,000
Prepaid expenses and other	5,692,000	1,136,000
Receivable from Dover Downs Gaming & Entertainment, Inc.		44,000
Prepaid income taxes	1,600,000	1,000
Deferred income taxes		79,000
Assets held for sale	26,000,000	26,000,000
Total current assets	34,044,000	27,506,000
Property and equipment, net	53,393,000	53,542,000
Other assets	976,000	851,000
Deferred income taxes		549,000
Total assets	88,413,000	82,448,000
Current liabilities:
Accounts payable	574,000	137,000
Accrued liabilities	2,804,000	3,215,000
Payable to Dover Downs Gaming & Entertainment, Inc.	44,000
Deferred revenue	5,314,000	1,278,000
Total current liabilities	8,736,000	4,630,000
Revolving line of credit	8,060,000	5,900,000
Liability for pension benefits	3,650,000	3,790,000
Provision for contingent obligation	1,800,000	1,727,000
Deferred income taxes	13,477,000	14,408,000
Total liabilities	35,723,000	30,455,000
Commitments and contingencies (see Notes to the Consolidated Financial Statements)
Stockholders' equity:
Preferred stock, $0.10 par value; 1,000,000 shares authorized; shares issued and outstanding: none
Additional paid-in capital	101,806,000	101,742,000
Accumulated deficit	(49,745,000)	(50,301,000)
Accumulated other comprehensive loss	(3,051,000)	(3,121,000)
Total stockholders' equity	52,690,000	51,993,000
Total liabilities and stockholders' equity	88,413,000	82,448,000
Common Stock | Common Stock
Stockholders' equity:
Common stock	1,829,000	1,822,000
Total stockholders' equity	1,829,000	1,822,000
Common Stock | Class A Common Stock
Stockholders' equity:
Common stock	1,851,000	1,851,000
Total stockholders' equity	$ 1,851,000	$ 1,851,000

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2016	Dec. 31, 2015
Preferred stock, par value (in dollars per share)	$ 0.10	$ 0.10
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common Stock | Common Stock
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares authorized	75,000,000	75,000,000
Common stock, shares issued	18,291,360	18,220,484
Common stock, shares outstanding	18,291,360	18,220,484
Common Stock | Class A Common Stock
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares authorized	55,000,000	55,000,000
Common stock, shares issued	18,510,975	18,510,975
Common stock, shares outstanding	18,510,975	18,510,975

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Operating activities:
Net earnings	$ 556	$ 1,494
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation	2,591	4,377
Amortization of credit facility fees	71	72
Stock-based compensation	233	256
Excess tax benefits from stock-based compensation	(27)
Deferred income taxes	(328)	(1,156)
Provision (benefit) for contingent obligation	73	(90)
Income from assets held for sale		(2,900)
Changes in assets and liabilities:
Accounts receivable	(348)	(229)
Inventories	56	(75)
Prepaid expenses and other	(4,567)	(4,965)
Prepaid income taxes/income taxes payable	(1,594)	(1,481)
Accounts payable	(82)	149
Accrued liabilities	(411)	(543)
Payable to/receivable from Dover Downs Gaming & Entertainment, Inc.	88	(11)
Deferred revenue	4,036	5,756
Liability for pension benefits	(48)	(23)
Net cash provided by operating activities	299	631
Investing activities:
Capital expenditures	(1,923)	(1,357)
Purchases of available-for-sale securities	(267)	(18)
Proceeds from available-for-sale securities	185	14
Non-refundable payments received related to assets held for sale		1,200
Net cash used in investing activities	(2,005)	(161)
Financing activities:
Borrowings from revolving line of credit	22,500	23,460
Repayments on revolving line of credit	(20,340)	(23,640)
Repurchase of common stock	(189)	(121)
Excess tax benefits from stock-based compensation	27
Credit facility fees	(78)
Net cash provided by (used in) financing activities	1,920	(301)
Net increase in cash	214	169
Cash, beginning of period	1	24
Cash, end of period	215	193
Supplemental information:
Interest paid	279	354
Income tax payments	2,299	3,582
Change in accounts payable/accrued expenses for capital expenditures	$ 519	$ (778)

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2016
Basis of Presentation
Basis of Presentation	NOTE 1 — Basis of Presentation References in this document to “we,” “us” and “our” mean Dover Motorsports, Inc. and/or its wholly owned subsidiaries, as appropriate. The accompanying consolidated financial statements have been prepared in compliance with Rule 10-01 of Regulation S-X and U.S. generally accepted accounting principles, and accordingly do not include all of the information and disclosures required for audited financial statements. These consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in our latest Annual Report on Form 10-K filed on March 4, 2016. In the opinion of management, these consolidated financial statements include all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation of the results of operations, financial position and cash flows for the interim periods presented. Operating results for the three and nine-month periods ended September 30, 2016 are not necessarily indicative of the results that may be expected for the year ending December 31, 2016 due to the seasonal nature of our business.

Business Operations

Business Operations	9 Months Ended
	Sep. 30, 2016
Business Operations
Business Operations	NOTE 2 — Business Operations Dover Motorsports, Inc. is a public holding company that is a leading marketer and promoter of motorsports entertainment in the United States. Through our subsidiaries, we own and operate Dover International Speedway ® in Dover, Delaware and Nashville Superspeedway ® near Nashville, Tennessee. As of the date of this filing, our Dover facility promoted the following six events during 2016, all of which were under the auspices of the premier sanctioning body in motorsports - the National Association for Stock Car Auto Racing (“NASCAR”): · 2 NASCAR Sprint Cup Series events; · 2 NASCAR XFINITY Series events; · 1 NASCAR Camping World Truck Series event; and · 1 NASCAR K&N Pro Series East event. Our fall NASCAR event weekend, which consists of a Sprint Cup Series event, an XFINITY Series event and a K&N Pro Series East event, was held on September 30 – October 2 in 2016. These same events were all held in October of 2015. Therefore, revenues and operating and marketing expenses are not comparable for the three and nine-month periods ended September 30, 2016 and 2015. We have hosted the Firefly Music Festival (“Firefly”) on our property in Dover, Delaware for five consecutive years. The inaugural three day festival with 40 musical acts was held in July 2012 and this year’s event in Dover was held on June 16-19, 2016 with over 110 musical acts. In September 2014, Red Frog Events LLC formed RFGV Festivals LLC - a joint venture with Goldenvoice that promotes Firefly. Goldenvoice is owned by AEG Live, one of the world’s largest presenters of live music and entertainment events. We entered into an amended agreement with RFGV Festivals granting them two 5 year options to extend our facility rental agreement through 2032 (from its original expiration date of 2022) in exchange for a rental commitment to secure our property for up to two festivals per year. Rent is at differing rates depending on how many events are actually held. On June 26-28, 2015, the Big Barrel Country Music Festival was held at our facility. The three day festival was promoted by RFGV Festivals and featured 40 musical acts. On January 28, 2016, RFGV Festivals announced it would not promote the event in 2016. In addition to the facility rental fee, we also receive a percentage of the concession sales we manage at the events. Nashville Superspeedway no longer promotes NASCAR events and has not entered into sanction agreements with NASCAR since 2011. We currently use the facility on a limited basis for motorsports track rentals. On May 29, 2014, we entered into an agreement to sell the facility for $27 million in cash and the assumption by the potential buyer of obligations of ours under certain Variable Rate Tax Exempt Infrastructure Revenue Bonds. The sales agreement was amended several times extending the closing date. In consideration for these amendments, during 2014 we received $1,700,000 in non-refundable deposits from the potential buyer which was to be applied against the purchase price at closing. In 2015, we received $1,200,000 in non-refundable deposits to extend closing under the agreement, a portion of which was to be applied against the purchase price depending on the closing date. During the first and second quarters of 2015, $427,000 and $606,000, respectively, was recorded as income from assets held for sale in our consolidated statements of operations as those deposit amounts were not to be applied against the purchase price at closing based on the terms of the amendments. On June 1, 2015, the potential buyer defaulted under the agreement and did not subsequently cure the default. The amended closing date under the agreement was July 27, 2015; therefore, the agreement expired by its terms. Accordingly, we recorded as income from assets held for sale the remaining deposits of $1,867,000 in the third quarter of 2015. On August 25, 2016, we entered into a definitive agreement to sell our Nashville facility to an entity owned by Panattoni Development Company for $27.5 million in cash and the assumption by the buyer of obligations of ours under certain Variable Rate Tax Exempt Infrastructure Revenue Bonds. The sale is expected to close in the first quarter of 2017. Our gain would be the $27.5 million purchase price less the facility’s $26 million carrying value and less any costs to sell which are expected to be minimal and consist primarily of legal fees. We also expect to pay income taxes of approximately $5 million as a result of this transaction. The assets of Nashville Superspeedway are reported as assets held for sale in our consolidated balance sheets at September 30, 2016 and December 31, 2015. Our balance sheet includes a $1,800,000 provision for contingent obligation reflecting the present value of the estimated portion of the revenue bonds debt service that may not be covered by the projected sales and incremental property taxes from the facility. Upon completion of the sale of the assets of Nashville Superspeedway, we will no longer be responsible for this obligation and will reverse it which will increase our pre-tax earnings by the amount of the obligation at the time it is reversed. See NOTE 9 — Commitments and Contingencies for further discussion.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2016
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	NOTE 3 — Summary of Significant Accounting Policies Property and equipment— Property and equipment is stated at cost. Depreciation is provided using the straight-line method over the asset’s estimated useful life. Accumulated depreciation was $56,409,000 and $54,306,000 as of September 30, 2016 and December 31, 2015, respectively. In the first quarter of 2016, we began a renovation project of certain track related assets that will take approximately one year to complete. As a result, we adjusted the service lives of those assets to properly reflect their shortened estimated useful life. We recorded depreciation expense of $25,000 and $184,000, respectively, in the three and nine-month periods ended September 30, 2016 related to these assets and expect to record an additional $24,000 of depreciation expense during the remainder of 2016. In the first quarter of 2015, we identified certain track related assets that, as a result of our planned reduction of grandstand seating, were retired at the end of our 2015 race season. As a result, we adjusted the service lives of those assets to properly reflect their shortened estimated useful life. We recorded depreciation expense of $655,000 and $2,039,000 in the three and nine-month periods ended September 30, 2015 related to these assets. As of December 31, 2015, these assets were fully depreciated. Revenue recognition— We classify our revenues as admissions, event-related, broadcasting and other. “Admissions” revenue includes ticket sales for all of our events. “Event-related” revenue includes amounts received from sponsorship fees; luxury suite rentals; hospitality tent rentals and catering; concessions and souvenir sales and vendor commissions for the right to sell concessions and souvenirs at our facilities; sales of programs; track rentals and other event-related revenues. Additionally, event related revenue includes amounts received for the use of our property and a portion of the concession sales we manage from the Firefly Music Festival. “Broadcasting” revenue includes rights fees obtained for television and radio broadcasts of events held at our speedways and any ancillary media rights fees. Revenues pertaining to specific events are deferred until the event is held. Concession and souvenir revenues are recorded at the time of sale. Revenues and related expenses from barter transactions in which we provide sponsorship packages in exchange for goods or services are recorded at fair value. Barter transactions accounted for $0 and $222,000, and $0 and $251,000 of total revenues for the three and nine-month periods ended September 30, 2016 and 2015, respectively. Under the terms of our sanction agreements, NASCAR retains 10% of the gross broadcast rights fees allocated to each NASCAR-sanctioned event as a component of its sanction fee. The remaining 90% is recorded as revenue. The event promoter is required to pay 25% of the gross broadcast rights fees to the event as part of the awards to the competitors, which we record as operating expenses. Expense recognition— The cost of non-event related advertising, promotion and marketing programs is expensed as incurred. Certain direct expenses pertaining to specific events, including prize and point fund monies and sanction fees paid to NASCAR, a majority of our marketing expenses and other expenses associated with the promotion of our racing events are deferred until the event is held, at which point they are expensed. Advertising expenses were $11,000 and $643,000, and $7,000 and $641,000 for the three and nine-month periods ended September 30, 2016 or 2015, respectively. Net (loss) earnings per common share— Nonvested share-based payment awards that include rights to dividends or dividend equivalents, whether paid or unpaid, are considered participating securities, and the two-class method of computing basic and diluted net (loss) earnings per common share (“EPS”) is applied for all periods presented. The following table sets forth the computation of EPS (in thousands, except per share amounts): Three Months Ended Nine Months Ended 2016 2015 2016 2015 Net (loss) earnings per common share – basic and diluted: Net (loss) earnings $ ) $ ) $ $ Allocation to nonvested restricted stock awards — — Net (loss) earnings available to common stockholders $ ) $ ) $ $ Weighted-average shares outstanding – basic and diluted Net (loss) earnings per common share – basic and diluted $ ) $ ) $ $ There were no options outstanding and we paid no dividends during the three and nine-month periods ended September 30, 2016 or 2015. Accounting for stock-based compensation— We recorded stock-based compensation expense for our restricted stock awards of $62,000 and $233,000, and $60,000 and $256,000 as general and administrative expenses for the three and nine-month periods ended September 30, 2016 and 2015, respectively. We recorded income tax benefits of $25,000 and $95,000, and $26,000 and $104,000 for the three and nine-month periods ended September 30, 2016 and 2015, respectively, related to our restricted stock awards. Recent accounting pronouncements— In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers , which provides a five step approach to be applied to all contracts with customers. ASU No. 2014-09 also requires expanded disclosures about revenue recognition. This update is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted for reporting periods beginning after December 15, 2016. We are currently analyzing the impact of ASU No. 2014-09 on our results of operations and, at this time, we are unable to determine the impact on the new standard, if any, on our consolidated financial statements.

Long-Term Debt

Long-Term Debt	9 Months Ended
	Sep. 30, 2016
Long-Term Debt
Long-Term Debt	NOTE 4 — Long-Term Debt At September 30, 2016, Dover Motorsports, Inc. and its wholly owned subsidiaries Dover International Speedway, Inc. and Nashville Speedway, USA, Inc., as co-borrowers had a $35,000,000 credit agreement with a bank group. On September 16, 2016, we modified the credit agreement to: extend the maturity date to July 31, 2020; release the mortgage and security interest in the collateral securing the agreement; and redefine certain terms within the agreement. Interest is based upon LIBOR plus a margin that varies between 125 and 175 basis points depending on the leverage ratio (125 basis points at September 30, 2016). The credit facility contains certain covenants including maximum funded debt to earnings before interest, taxes, depreciation and amortization (“leverage ratio”) and a minimum fixed charge coverage ratio. Material adverse changes in our results of operations could impact our ability to maintain financial ratios necessary to satisfy these requirements. In addition, the credit agreement includes a material adverse change clause. The credit facility also provides that if we default under any other loan agreement, that would be a default under this facility. At September 30, 2016, there was $8,060,000 outstanding under the credit facility at an interest rate of 1.78%. The credit facility provides for seasonal funding needs, capital improvements, letter of credit requirements and other general corporate purposes. At September 30, 2016, we were in compliance with the terms of the credit facility. After consideration of stand-by letters of credit outstanding, the remaining maximum borrowings available pursuant to the credit facility were $10,367,000 at September 30, 2016. We expect to be in compliance with the financial covenants, and all other covenants, for all measurement periods during the next twelve months.

Pension Plans

Pension Plans	9 Months Ended
	Sep. 30, 2016
Pension Plans
Pension Plans	NOTE 5 — Pension Plans We maintain a non-contributory tax qualified defined benefit pension plan that has been frozen since July 2011. All of our full time employees were eligible to participate in the qualified plan. Benefits provided by our qualified pension plan were based on years of service and employees’ remuneration over their employment period. Compensation earned by employees up to July 31, 2011 is used for purposes of calculating benefits under our pension plan with no future benefit accruals after this date. We also maintain a non-qualified, non-contributory defined benefit pension plan, the excess plan, for certain employees that has been frozen since July 2011. This excess plan provided benefits that would otherwise be provided under the qualified pension plan but for maximum benefit and compensation limits applicable under federal tax law. The cost associated with the excess plan is determined using the same actuarial methods and assumptions as those used for our qualified pension plan. The assets for the excess plan aggregate $931,000 and $813,000 as of September 30, 2016 and December 31, 2015, respectively, and are recorded in other assets in our consolidated balance sheets (see NOTE 7 — Fair Value Measurements). The components of net periodic pension benefit for our defined benefit pension plans are as follows: Three Months Ended Nine Months Ended 2016 2015 2016 2015 Interest cost $ $ $ $ Expected return on plan assets ) ) ) ) Recognized net actuarial loss $ ) $ ) $ ) $ ) We contributed $0 and $75,000 to our defined benefit pension plans during the three and nine-month periods ended September 30, 2016. We do not expect any further contributions to our defined benefit pension plans in 2016. We made no contributions to our defined benefit pension plans during the nine months ended September 30, 2015. We also maintain a non-elective, non-qualified supplemental executive retirement plan (“SERP”) which provides deferred compensation to certain highly compensated employees that approximates the value of benefits lost by the freezing of the pension plan which are not offset by our enhanced matching contributions in our 401(k) plan. The SERP is a discretionary defined contribution plan and contributions made to the SERP in any given year are not guaranteed and will be at the sole discretion of our Compensation and Stock Incentive Committee. In the three and nine-month periods ended September 30, 2016 and 2015, we recorded expenses of $20,000 and $60,000, and $17,000 and $52,000, respectively, related to the SERP. During the nine-month periods ended September 30, 2016 and 2015, we contributed $81,000 and $72,000 to the plan, respectively. The liability for SERP pension benefits was $61,000 and $82,000 as of September 30, 2016 and December 31, 2015, respectively. We maintain a defined contribution 401(k) plan that permits participation by substantially all employees. Our matching contributions to the 401(k) plan were $33,000 and $100,000, and $20,000 and $83,000 in the three and nine-month periods ended September 30, 2016 and 2015, respectively.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2016
Stockholders' Equity
Stockholders' Equity	NOTE 6 — Stockholders’ Equity Changes in the components of stockholders’ equity are as follows (in thousands): Common Class A Additional Accumulated Accumulated Balance at December 31, 2015 $ $ $ $ ) $ ) Net earnings — — — — Issuance of restricted stock awards, net of forfeitures — ) — — Stock-based compensation — — — — Repurchase and retirement of common stock ) — ) — — Unrealized gain on available-for-sale securities, net of income tax expense of $10 — — — — Change in net actuarial loss and prior service cost, net of income tax expense of $37 — — — — Excess tax benefits on restricted stock — — — — Balance at September 30, 2016 $ $ $ $ ) $ ) As of September 30, 2016 and December 31, 2015, accumulated other comprehensive loss, net of income taxes, consists of the following: September 30, 2016 December 31, 2015 Net actuarial loss and prior service cost not yet recognized in net periodic benefit cost, net of income tax benefit of $2,134,000 and $2,171,000, respectively $ ) $ ) Accumulated unrealized gain on available-for-sale securities, net of income tax expense of $41,000 and $31,000, respectively Accumulated other comprehensive loss $ ) $ ) Effective June 14, 2016, we adopted a stockholder rights plan. The rights are attached to and trade in tandem with our common stock. The rights, unless earlier redeemed by our board of directors, will detach and trade separately from our common stock only upon the occurrence of certain events such as the unsolicited acquisition by a third party of beneficial ownership of 10% or more of our outstanding combined common stock and Class A common stock or the announcement by a third party of the intent to commence a tender or exchange offer for 10% or more of our outstanding combined common stock and Class A common stock. After the rights have detached, the holders of such rights would generally have the ability to purchase such number of either shares of our common stock or stock of an acquirer of our company having a market value equal to twice the exercise price of the right being exercised, thereby causing substantial dilution to a person or group of persons attempting to acquire control of our company. The rights may serve as a significant deterrent to unsolicited attempts to acquire control of us, including transactions involving a premium to the market price of our stock. The rights expire on June 13, 2026, unless earlier redeemed. On July 28, 2004, our Board of Directors authorized the repurchase of up to 2,000,000 shares of our outstanding common stock. The purchases may be made in the open market or in privately negotiated transactions as conditions warrant. The repurchase authorization has no expiration date, does not obligate us to acquire any specific number of shares and may be suspended at any time. During the first nine months of 2016, we purchased and retired 37,813 shares of our outstanding common stock at an average purchase price of $2.22 per share, not including nominal brokerage commissions. No purchases of our equity securities were made pursuant to this authorization during the nine months ended September 30, 2015. At September 30, 2016, we had remaining repurchase authority of 1,140,318 shares. We have a stock incentive plan, adopted in 2014, which provides for the grant of up to 2,000,000 shares of common stock to our officers and key employees through stock options and/or awards valued in whole or in part by reference to our common stock, such as nonvested restricted stock awards. Under the plan, nonvested restricted stock vests an aggregate of twenty percent each year beginning on the second anniversary date of the grant. The aggregate market value of the nonvested restricted stock at the date of issuance is being amortized on a straight-line basis over the six-year period. We granted 153,000 stock awards under this plan during each of the nine months ended September 30, 2016 and 2015. As of September 30, 2016, there were 1,704,978 shares available for granting options or stock awards. During the nine months ended September 30, 2016 and 2015, we purchased and retired 44,311 and 49,078 shares of our outstanding common stock at an average purchase price of $2.33 and $2.46 per share, respectively. These purchases were made from employees in connection with the vesting of restricted stock awards under our Stock Incentive Plan and were not pursuant to the aforementioned repurchase authorization. Since the vesting of a restricted stock award is a taxable event to our employees for which income tax withholding is required, the plan allows employees to surrender to us some of the shares that would otherwise have vested in satisfaction of their tax liability. The surrender of these shares is treated by us as a purchase of the shares.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2016
Fair Value Measurements
Fair Value Measurements	NOTE 7 — Fair Value Measurements Our financial instruments are classified and disclosed in one of the following three categories: Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2: Quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability; Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity). The following table summarizes the valuation of our financial instrument pricing levels as of September 30, 2016 and December 31, 2015: Total Level 1 Level 2 Level 3 September 30, 2016 Available-for-sale securities $ $ $ — $ — December 31, 2015 Available-for-sale securities $ $ $ — $ — Our investments in available-for-sale securities consist of mutual funds. These investments are included in other assets on our consolidated balance sheets. The carrying amounts of other financial instruments reported in our consolidated balance sheets for current assets and current liabilities approximate their fair values because of the short maturity of these instruments. At September 30, 2016 and December 31, 2015, there was $8,060,000 and $5,900,000, respectively, outstanding under our revolving credit agreement. The borrowings under our revolving credit agreement bear interest at the variable rate described in NOTE 4 — Long-Term Debt and therefore we believe approximate fair value.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2016
Related Party Transactions
Related Party Transactions	NOTE 8 — Related Party Transactions During the three and nine-month periods ended September 30, 2016 and 2015, Dover Downs Gaming & Entertainment, Inc. (“Gaming”), a company related through common ownership, allocated costs of $487,000 and $1,482,000, and $453,000 and $1,399,000, respectively, to us for certain administrative and operating services, including leased space. We allocated certain administrative and operating service costs of $24,000 and $135,000, and $39,000 and $168,000, respectively, to Gaming for the three and nine-month periods ended September 30, 2016 and 2015. The allocations were based on an analysis of each company’s share of the costs. In connection with our 2016 and 2015 NASCAR event weekends at Dover International Speedway, Gaming provided certain services, primarily catering, for which we were invoiced $71,000 and $497,000, and $4,000 and $426,000, respectively, during the three and nine-month periods ended September 30, 2016 and 2015. Additionally, we invoiced Gaming $25,000 and $116,000, and $8,000 and $119,000, respectively, during the three and nine-month periods ended September 30, 2016 and 2015 for tickets, our commission for suite catering and other services to the NASCAR events. As of September 30, 2016 and December 31, 2015, our consolidated balance sheets included a $44,000 payable to and a $44,000 receivable from Gaming for the aforementioned items. These items were settled in October of 2016 and January of 2016, respectively. The net costs incurred by each company for these services are not necessarily indicative of the costs that would have been incurred if the companies had been unrelated entities and/or had otherwise independently managed these functions; however, management believes that these costs are reasonable. Prior to the spin-off of Gaming from our company in 2002, both companies shared certain real property in Dover, Delaware. At the time of the spin-off, some of this real property was transferred to Gaming to ensure that the real property holdings of each company was aligned with its past uses and future business needs. During its harness racing season, Gaming has historically used the 5/8-mile harness racing track that is located on our property and is on the inside of our one-mile motorsports superspeedway. In order to continue this historic use, we granted a perpetual easement to the harness track to Gaming at the time of the spin-off. This perpetual easement allows Gaming to have exclusive use of the harness track during the period beginning November 1 of each year and ending April 30 of the following year, together with set up and tear down rights for the two weeks before and after such period. The easement requires that Gaming maintain the harness track but does not require the payment of any rent. Various easements and agreements relative to access, utilities and parking have also been entered into between us and Gaming relative to our respective Dover, Delaware facilities. We pay rent to Gaming for the lease of our principal executive office space. Gaming also allows us to use its indoor grandstands in connection with our two annual motorsports weekends. This occasional grandstand use is not material to us and Gaming does not assess rent for it; Gaming may also discontinue our use at its discretion. Henry B. Tippie, Chairman of our Board of Directors, controls in excess of fifty percent of our voting power. Mr. Tippie’s voting control emanates from his direct and indirect holdings of common stock and Class A common stock and from his status as trustee of the RMT Trust, our largest stockholder. This means that Mr. Tippie has the ability to determine the outcome of the election of directors and to determine the outcome of many significant corporate transactions, many of which only require the approval of a majority of our voting power. Patrick J. Bagley, Timothy R. Horne, Denis McGlynn, Jeffrey W. Rollins, R. Randall Rollins, Richard K. Struthers and Henry B. Tippie are all Directors of Dover Motorsports, Inc. and Gaming. Denis McGlynn is the President and Chief Executive Officer of both companies, Klaus M. Belohoubek is the Senior Vice President — General Counsel and Secretary of both companies and Timothy R. Horne is the Senior Vice President — Finance and Chief Financial Officer of both companies. Mr. Tippie controls in excess of fifty percent of the voting power of Gaming.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2016
Commitments and Contingencies
Commitments and Contingencies	NOTE 9 — Commitments and Contingencies In September 1999, the Sports Authority of the County of Wilson (Tennessee) issued $25,900,000 in Variable Rate Tax Exempt Infrastructure Revenue Bonds, Series 1999, to acquire, construct and develop certain public infrastructure improvements which benefit Nashville Superspeedway, of which $16,300,000 was outstanding at September 30, 2016. Annual principal payments range from $900,000 in September 2017 to $1,600,000 in 2029 and are payable solely from sales taxes and incremental property taxes generated from the facility. These bonds are direct obligations of the Sports Authority and therefore have historically not been required to be recorded on our consolidated balance sheet. If the sales taxes and incremental property taxes (“applicable taxes”) are insufficient for the payment of principal and interest on the bonds, we would become responsible for the difference. In the event we were unable to make the payments, they would be made pursuant to a $16,573,000 irrevocable direct-pay letter of credit issued by our bank group. We are exposed to fluctuations in interest rates for these bonds. As of September 30, 2016 and December 31, 2015, $1,845,000 and $1,976,000, respectively, was available in the sales and incremental property tax fund maintained by the Sports Authority to pay the remaining principal and interest due under the bonds. During the first nine months of 2016, we paid $982,000 into the sales and incremental property tax fund and $1,113,000 was deducted from the fund for principal and interest payments. If we fail to maintain the letter of credit that secures the bonds or we allow an uncured event of default to exist under our reimbursement agreement relative to the letter of credit, the bonds would be immediately redeemable. Nashville Superspeedway no longer promotes NASCAR events and has not entered into sanction agreements with NASCAR since 2011. We currently use the facility on a limited basis for motorsports track rentals. In 2011 we recorded a $2,250,000 provision for contingent obligation reflecting the present value of the estimated portion of the revenue bonds debt service that may not be covered by the projected sales and incremental property taxes from the facility. Due to changing interest rates, the provision for contingent obligation increased (decreased) by $17,000 and $73,000, and $12,000 and ($90,000) in the three and nine-month periods ended September 30, 2016 and 2015, respectively, and is $1,800,000 at September 30, 2016. An increase in interest rates would result in an increase in the portion of debt service not covered by applicable taxes and therefore an increase in our liability. We are also a party to ordinary routine litigation incidental to our business. Management does not believe that the resolution of any of these matters is likely to have a material adverse effect on our results of operations, financial position or cash flows.

Summary of Significant Accoun15

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2016
Summary of Significant Accounting Policies
Property and equipment	Property and equipment— Property and equipment is stated at cost. Depreciation is provided using the straight-line method over the asset’s estimated useful life. Accumulated depreciation was $56,409,000 and $54,306,000 as of September 30, 2016 and December 31, 2015, respectively. In the first quarter of 2016, we began a renovation project of certain track related assets that will take approximately one year to complete. As a result, we adjusted the service lives of those assets to properly reflect their shortened estimated useful life. We recorded depreciation expense of $25,000 and $184,000, respectively, in the three and nine-month periods ended September 30, 2016 related to these assets and expect to record an additional $24,000 of depreciation expense during the remainder of 2016. In the first quarter of 2015, we identified certain track related assets that, as a result of our planned reduction of grandstand seating, were retired at the end of our 2015 race season. As a result, we adjusted the service lives of those assets to properly reflect their shortened estimated useful life. We recorded depreciation expense of $655,000 and $2,039,000 in the three and nine-month periods ended September 30, 2015 related to these assets. As of December 31, 2015, these assets were fully depreciated.
Revenue recognition	Revenue recognition— We classify our revenues as admissions, event-related, broadcasting and other. “Admissions” revenue includes ticket sales for all of our events. “Event-related” revenue includes amounts received from sponsorship fees; luxury suite rentals; hospitality tent rentals and catering; concessions and souvenir sales and vendor commissions for the right to sell concessions and souvenirs at our facilities; sales of programs; track rentals and other event-related revenues. Additionally, event related revenue includes amounts received for the use of our property and a portion of the concession sales we manage from the Firefly Music Festival. “Broadcasting” revenue includes rights fees obtained for television and radio broadcasts of events held at our speedways and any ancillary media rights fees. Revenues pertaining to specific events are deferred until the event is held. Concession and souvenir revenues are recorded at the time of sale. Revenues and related expenses from barter transactions in which we provide sponsorship packages in exchange for goods or services are recorded at fair value. Barter transactions accounted for $0 and $222,000, and $0 and $251,000 of total revenues for the three and nine-month periods ended September 30, 2016 and 2015, respectively. Under the terms of our sanction agreements, NASCAR retains 10% of the gross broadcast rights fees allocated to each NASCAR-sanctioned event as a component of its sanction fee. The remaining 90% is recorded as revenue. The event promoter is required to pay 25% of the gross broadcast rights fees to the event as part of the awards to the competitors, which we record as operating expenses.
Expense recognition	Expense recognition— The cost of non-event related advertising, promotion and marketing programs is expensed as incurred. Certain direct expenses pertaining to specific events, including prize and point fund monies and sanction fees paid to NASCAR, a majority of our marketing expenses and other expenses associated with the promotion of our racing events are deferred until the event is held, at which point they are expensed. Advertising expenses were $11,000 and $643,000, and $7,000 and $641,000 for the three and nine-month periods ended September 30, 2016 or 2015, respectively.
Net (loss) earnings per common share	Net (loss) earnings per common share— Nonvested share-based payment awards that include rights to dividends or dividend equivalents, whether paid or unpaid, are considered participating securities, and the two-class method of computing basic and diluted net (loss) earnings per common share (“EPS”) is applied for all periods presented. The following table sets forth the computation of EPS (in thousands, except per share amounts): Three Months Ended Nine Months Ended 2016 2015 2016 2015 Net (loss) earnings per common share – basic and diluted: Net (loss) earnings $ ) $ ) $ $ Allocation to nonvested restricted stock awards — — Net (loss) earnings available to common stockholders $ ) $ ) $ $ Weighted-average shares outstanding – basic and diluted Net (loss) earnings per common share – basic and diluted $ ) $ ) $ $ There were no options outstanding and we paid no dividends during the three and nine-month periods ended September 30, 2016 or 2015.
Accounting for stock-based compensation	Accounting for stock-based compensation— We recorded stock-based compensation expense for our restricted stock awards of $62,000 and $233,000, and $60,000 and $256,000 as general and administrative expenses for the three and nine-month periods ended September 30, 2016 and 2015, respectively. We recorded income tax benefits of $25,000 and $95,000, and $26,000 and $104,000 for the three and nine-month periods ended September 30, 2016 and 2015, respectively, related to our restricted stock awards.
Recent accounting pronouncements	Recent accounting pronouncements— In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers , which provides a five step approach to be applied to all contracts with customers. ASU No. 2014-09 also requires expanded disclosures about revenue recognition. This update is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted for reporting periods beginning after December 15, 2016. We are currently analyzing the impact of ASU No. 2014-09 on our results of operations and, at this time, we are unable to determine the impact on the new standard, if any, on our consolidated financial statements.

Summary of Significant Accoun16

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2016
Summary of Significant Accounting Policies
Schedule of the computation of EPS	The following table sets forth the computation of EPS (in thousands, except per share amounts): Three Months Ended Nine Months Ended 2016 2015 2016 2015 Net (loss) earnings per common share – basic and diluted: Net (loss) earnings $ ) $ ) $ $ Allocation to nonvested restricted stock awards — — Net (loss) earnings available to common stockholders $ ) $ ) $ $ Weighted-average shares outstanding – basic and diluted Net (loss) earnings per common share – basic and diluted $ ) $ ) $ $

Pension Plans (Tables)

Pension Plans (Tables)	9 Months Ended
	Sep. 30, 2016
Pension Plans
Schedule of components of net periodic pension benefit	Three Months Ended Nine Months Ended 2016 2015 2016 2015 Interest cost $ $ $ $ Expected return on plan assets ) ) ) ) Recognized net actuarial loss $ ) $ ) $ ) $ )

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2016
Stockholders' Equity
Schedule of the changes in the components of stockholders' equity	Changes in the components of stockholders’ equity are as follows (in thousands): Common Class A Additional Accumulated Accumulated Balance at December 31, 2015 $ $ $ $ ) $ ) Net earnings — — — — Issuance of restricted stock awards, net of forfeitures — ) — — Stock-based compensation — — — — Repurchase and retirement of common stock ) — ) — — Unrealized gain on available-for-sale securities, net of income tax expense of $10 — — — — Change in net actuarial loss and prior service cost, net of income tax expense of $37 — — — — Excess tax benefits on restricted stock — — — — Balance at September 30, 2016 $ $ $ $ ) $ )
Schedule of accumulated other comprehensive loss, net of income taxes	September 30, 2016 December 31, 2015 Net actuarial loss and prior service cost not yet recognized in net periodic benefit cost, net of income tax benefit of $2,134,000 and $2,171,000, respectively $ ) $ ) Accumulated unrealized gain on available-for-sale securities, net of income tax expense of $41,000 and $31,000, respectively Accumulated other comprehensive loss $ ) $ )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2016
Fair Value Measurements
Summary of the valuation of financial instrument pricing levels	Total Level 1 Level 2 Level 3 September 30, 2016 Available-for-sale securities $ $ $ — $ — December 31, 2015 Available-for-sale securities $ $ $ — $ —

Business Operations (Details)

Business Operations (Details)

Aug. 25, 2016USD ($)

Jun. 19, 2016item

Jun. 28, 2015item

Jul. 31, 2012item

Sep. 30, 2016USD ($)

Sep. 30, 2015USD ($)

Jun. 30, 2015USD ($)

Mar. 31, 2015USD ($)

Sep. 30, 2016USD ($)item

Sep. 30, 2015USD ($)

Dec. 31, 2015USD ($)

Dec. 31, 2014USD ($)

May 29, 2014USD ($)

Business Operations

Facility held for sale's carrying value

$ 26,000,000

$ 26,000,000

$ 26,000,000

Non-refundable payments received related to assets held for sale

$ 1,200,000

Income from assets held for sale

$ 1,867,000

2,900,000

Provision for contingent obligation

$ 17,000

12,000

$ 73,000

$ (90,000)

Dover Facility

Business Operations

Number of events scheduled to be promoted | item

6

Number of years Firefly Music Festival hosted

5 years

Number of days the event is held

3 days

3 days

Number of music acts featured in the event | item

40

40

Dover Facility | Minimum

Business Operations

Number of music acts featured in the event | item

110

Dover Facility | RFGV Festivals

Business Operations

Number of options granted to extend rent agreement | item

2

Number of years each agreement permits to use our facility

5 years

Dover Facility | RFGV Festivals | Maximum

Business Operations

Number of events scheduled to be promoted | item

2

Dover Facility | NASCAR Sprint Cup Series events

Business Operations

Number of events scheduled to be promoted | item

2

Dover Facility | NASCAR XFINITY Series events

Business Operations

Number of events scheduled to be promoted | item

2

Dover Facility | NASCAR Camping World Truck Series event

Business Operations

Number of events scheduled to be promoted | item

1

Dover Facility | NASCAR K&N Pro Series East event

Business Operations

Number of events scheduled to be promoted | item

1

Nashville Superspeedway

Business Operations

Consideration from sale of facility

$ 27,500,000

$ 27,000,000

Facility held for sale's carrying value

26,000,000

Expected income taxes for the disposal

$ 5,000,000

Non-refundable payments received related to assets held for sale

$ 1,200,000

$ 1,700,000

Income from assets held for sale

$ 1,867,000

$ 606,000

$ 427,000

Provision for contingent obligation

$ 1,800,000

Summary of Significant Accoun21

Summary of Significant Accounting Policies (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Accumulated depreciation	$ 56,409,000		$ 56,409,000		$ 54,306,000
Depreciation expense	828,000	$ 1,410,000	2,591,000	$ 4,377,000
Track Related Assets
Property, Plant and Equipment [Line Items]
Depreciation expense	25,000	$ 655,000	184,000	$ 2,039,000
Expected depreciation expense during the remainder of 2016	$ 24,000		$ 24,000

Summary of Significant Accoun22

Summary of Significant Accounting Policies - Revenue recognition (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Revenue recognition
Revenues from barter transaction providing sponsorship packages in exchange for goods or services	$ 0	$ 0	$ 222,000	$ 251,000
Percentage of gross broadcast rights fees retained by NASCAR	10.00%		10.00%
Percentage of gross broadcast rights fees recorded as revenue	90.00%		90.00%
Percentage of gross broadcast rights fees payable to the event as part of the awards to the competitors	25.00%		25.00%
Expense recognition
Advertising expenses	$ 11,000	7,000	$ 643,000	641,000
Net (loss) earnings per common share - basic and diluted:
Net (loss) earnings	(2,167,000)	(1,396,000)	556,000	1,494,000
Allocation to nonvested restricted stock awards			9,000	23,000
Net (loss) earnings available to common stockholders	$ (2,167,000)	$ (1,396,000)	$ 547,000	$ 1,471,000
Weighted-average shares outstanding - basic and diluted	36,216,000	36,157,000	36,238,000	36,155,000
Net (loss) earnings per common share - basic and diluted	$ (0.06)	$ (0.04)	$ 0.02	$ 0.04
Options outstanding (in shares)	0	0	0	0
Dividends paid	$ 0	$ 0	$ 0	$ 0
Restricted Stock
Accounting for stock-based compensation
Stock-based compensation expense	62,000	60,000	233,000	256,000
Income tax benefits related to restricted stock awards	$ 25,000	$ 26,000	$ 95,000	$ 104,000

Long-Term Debt (Details)

Long-Term Debt (Details) - USD ($)	9 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Long-Term Debt
Amount outstanding under the credit facility	$ 8,060,000	$ 5,900,000
Line of Credit
Long-Term Debt
Maximum borrowing capacity under the credit facility	$ 35,000,000
Reference rate	LIBOR
Interest rate added to the reference rate (as a percent)	1.25%
Amount outstanding under the credit facility	$ 8,060,000
Interest rate at the end of the period (as a percent)	1.78%
Remaining maximum borrowings available pursuant to the credit facility	$ 10,367,000
Line of Credit | Minimum
Long-Term Debt
Interest rate added to the reference rate (as a percent)	1.25%
Line of Credit | Maximum
Long-Term Debt
Interest rate added to the reference rate (as a percent)	1.75%

Pension Plans (Details)

Pension Plans (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Pension plans
Future benefit accruals , non-contributory tax qualified defined benefit pension plan	$ 0
The excess plan
Pension plans
Fair values of pension assets	$ 931,000	$ 813,000

Pension Plans - Defined benefit

Pension Plans - Defined benefit pension plans (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Components of net periodic pension benefit
Interest cost	$ 117,000	$ 127,000	$ 346,000	$ 387,000
Expected return on plan assets	(155,000)	(160,000)	(466,000)	(482,000)
Recognized net actuarial loss	33,000	30,000	92,000	92,000
Net periodic pension benefit	(5,000)	$ (3,000)	(28,000)	(3,000)
Contributions to pension plans	$ 0		$ 75,000	$ 0

Pension Plans - SERP (Details)

Pension Plans - SERP (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
SERP
Deferred contribution plan
Expenses recorded under the plan	$ 20,000	$ 17,000	$ 60,000	$ 52,000
Employer contributions			81,000	72,000
Liability for pension benefits	61,000		61,000		$ 82,000
401(k) plan
Deferred contribution plan
Expenses recorded under the plan	$ 33,000	$ 20,000	$ 100,000	$ 83,000

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Jun. 14, 2016	Dec. 31, 2015	Jul. 28, 2004
Changes in the components of stockholders equity
Balance at the beginning of the period			$ 51,993,000
Net earnings	$ (2,167,000)	$ (1,396,000)	556,000	$ 1,494,000
Unrealized gain on available-for-sale securities, net of income tax expense of $10	5,000	(25,000)	15,000	(21,000)
Change in net actuarial loss and prior service cost, net of income tax expense of $37	(20,000)	$ (18,000)	(55,000)	$ (56,000)
Balance at the end of the period	52,690,000		52,690,000
Income tax expense on unrealized gain on available-for-sale securities			10,000
Income tax expense on change in net actuarial loss and prior service cost			37,000
Accumulated other comprehensive loss, net of income taxes
Net actuarial loss and prior service cost not yet recognized in net periodic benefit cost, net of income tax benefit of $2,134,000 and $2,171,000, respectively	(3,109,000)		(3,109,000)			$ (3,164,000)
Accumulated unrealized gain on available-for-sale securities, net of income tax expense of $41,000 and $31,000, respectively	58,000		58,000			43,000
Accumulated other comprehensive loss	(3,051,000)		(3,051,000)			(3,121,000)
Income tax benefit on net actuarial loss and prior service cost not yet recognized in net periodic benefit cost	2,134,000		2,134,000			2,171,000
Income tax expense on accumulated unrealized gain on available-for-sale securities	$ 41,000		$ 41,000			$ 31,000
Share Repurchase Authorization 2004
Accumulated other comprehensive loss, net of income taxes
Number of shares of common stock authorized to be repurchased							2,000,000
Number of shares purchased and retired			37,813	0
Average purchase price of shares purchased and retired (in dollars per share)			$ 2.22
Remaining number of shares authorized to be repurchased	1,140,318		1,140,318
Stockholder rights plan
Changes in the components of stockholders equity
Unsolicited acquisition or tender/exchange offer commencement of outstanding combined common stock and Class A common stock by a third party triggers the rights to be detached (as a percent)					10.00%
Common Stock | Common Stock
Changes in the components of stockholders equity
Balance at the beginning of the period			$ 1,822,000
Issuance of restricted stock awards, net of forfeitures			15,000
Repurchase and retirement of common stock			(8,000)
Balance at the end of the period	$ 1,829,000		1,829,000
Common Stock | Class A Common Stock
Changes in the components of stockholders equity
Balance at the beginning of the period			1,851,000
Balance at the end of the period	1,851,000		1,851,000
Additional Paid-in Capital
Changes in the components of stockholders equity
Balance at the beginning of the period			101,742,000
Issuance of restricted stock awards, net of forfeitures			(15,000)
Stock-based compensation			233,000
Repurchase and retirement of common stock			(181,000)
Excess tax benefits on restricted stock			27,000
Balance at the end of the period	101,806,000		101,806,000
Accumulated Deficit
Changes in the components of stockholders equity
Balance at the beginning of the period			(50,301,000)
Net earnings			556,000
Balance at the end of the period	(49,745,000)		(49,745,000)
Accumulated Other Comprehensive Loss
Changes in the components of stockholders equity
Balance at the beginning of the period			(3,121,000)
Unrealized gain on available-for-sale securities, net of income tax expense of $10			15,000
Change in net actuarial loss and prior service cost, net of income tax expense of $37			(55,000)
Balance at the end of the period	$ (3,051,000)		$ (3,051,000)

Stockholders' Equity - Stock in

Stockholders' Equity - Stock incentive plan (Details) - $ / shares	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Stockholders Equity
Maximum number of shares authorized for grant	2,000,000
Options granted (in shares)	153,000	153,000
Number of shares available for grant	1,704,978
Restricted Stock
Stockholders Equity
Vesting rights percentage each year beginning on the second anniversary date of the grant	20.00%
Service period over which the aggregate market value of stock is being amortized	6 years
Number of shares purchased and retired	44,311	49,078
Average purchase price of shares purchased and retired (in dollars per share)	$ 2.33	$ 2.46

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Fair Value Measurements
Available-for-sale securities	$ 931,000	$ 813,000
Amount outstanding under revolving credit agreement	8,060,000	5,900,000
Level 1
Fair Value Measurements
Available-for-sale securities	$ 931,000	$ 813,000

Related Party Transactions (Det

Related Party Transactions (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2016USD ($)itemmi	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)item	Sep. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Related Party Transactions
Payable to Dover Downs Gaming & Entertainment, Inc.	$ 44,000		$ 44,000
Receivable from Dover Downs Gaming & Entertainment, Inc.					$ 44,000
Length of motorsports superspeedway of entity (in miles) | mi	1
Dover Downs Gaming and Entertainment Inc
Related Party Transactions
Costs for administrative and operating services, including leased space allocated by related party	$ 487,000	$ 453,000	1,482,000	$ 1,399,000
Administrative and operating service costs allocated to related party	24,000	39,000	135,000	168,000
Payable to Dover Downs Gaming & Entertainment, Inc.	$ 44,000		$ 44,000
Receivable from Dover Downs Gaming & Entertainment, Inc.					$ 44,000
Length of harness racing track used (in miles) | mi	0.625
Period, before and after the period of exclusive use of harness track, for which related party has set up and tear down rights ( in weeks)	14 days
Number of annual motorsports weekends for which use of indoor grandstands is allowed by related party | item	2		2
Dover Downs Gaming and Entertainment Inc | Dover Facility
Related Party Transactions
Costs for administrative and operating services, including leased space allocated by related party	$ 71,000	4,000	$ 497,000	426,000
Administrative and operating service costs allocated to related party	$ 25,000	$ 8,000	$ 116,000	$ 119,000
Board of Directors Chairman
Related Party Transactions
Minimum percentage of voting power controlled by related party	50.00%		50.00%
Minimum percentage of voting power of Gaming controlled by other related party	50.00%		50.00%

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2011	Dec. 31, 2015	Sep. 30, 1999
Commitments and Contingencies
Provision for contingent obligation	$ 17,000	$ 12,000	$ 73,000	$ (90,000)
Provision for contingent obligation at period end	1,800,000		1,800,000			$ 1,727,000
Indirect Guarantee of Indebtedness
Commitments and Contingencies
Balance available in the sales and incremental property tax fund	1,845,000		1,845,000			$ 1,976,000
Amount paid into the sales and incremental property tax fund			982,000
Deduction from the sales and incremental property tax fund for principal and interest payments			1,113,000
Nashville Superspeedway
Commitments and Contingencies
Provision for contingent obligation			1,800,000
Nontaxable Municipal Bonds | Indirect Guarantee of Indebtedness
Commitments and Contingencies
Irrevocable direct-pay letter of credit issued	16,573,000		16,573,000
Nontaxable Municipal Bonds | Nashville Superspeedway
Commitments and Contingencies
Provision for contingent obligation					$ 2,250,000
Increased (decrease) in the provision for contingent obligation due to changing interest rates	17,000	$ 12,000	73,000	$ (90,000)
Provision for contingent obligation at period end	1,800,000		1,800,000
Sports Authority of the County of Wilson (Tennessee) | Nontaxable Municipal Bonds | Indirect Guarantee of Indebtedness
Commitments and Contingencies
Aggregate principal amount							$ 25,900,000
Outstanding amount of debt	16,300,000		16,300,000
Sports Authority of the County of Wilson (Tennessee) | Nontaxable Municipal Bonds | Minimum | Indirect Guarantee of Indebtedness
Commitments and Contingencies
Range of annual principal payments, from September 2017 to 2029	900,000		900,000
Sports Authority of the County of Wilson (Tennessee) | Nontaxable Municipal Bonds | Maximum | Indirect Guarantee of Indebtedness
Commitments and Contingencies
Range of annual principal payments, from September 2017 to 2029	$ 1,600,000		$ 1,600,000