Exhibit 99.1

FOR IMMEDIATE RELEASE	For further information, call:
	Timothy R. Horne - Sr. Vice President-Finance
Dover, Delaware, January 28, 2010	(302) 857-3292

DOVER MOTORSPORTS, INC. REPORTS RESULTS

FOR THE QUARTER AND YEAR ENDED DECEMBER 31, 2009

Dover Motorsports, Inc. (NYSE: DVD) today reported its results for the quarter and year ended December 31, 2009.

The Company’s fourth quarter is a seasonally slow quarter and typically results in a loss. We promoted two major events in the fourth quarter of 2009 – the NASCAR Nationwide Series race and the NHRA Full Throttle Racing Series race, both held at Memphis Motorsports Park (Memphis). We only promoted the NASCAR Nationwide Series race at Memphis during the fourth quarter of 2008.

As previously reported, the Company has ceased all operations at Memphis and the facility is being held for sale. The Company realigned both NASCAR races promoted in Memphis to its other Midwest tracks, effective for the 2010 race season.

For the quarter ended December 31, 2009, revenues were $4,031,000 compared with $2,561,000 in the fourth quarter of 2008. The increase was attributable to the additional race promoted in the fourth quarter of 2009, partially offset by lower admissions and sponsorship revenue in 2009 compared to 2008. Operating and marketing expenses in the 2009 quarter were higher than the 2008 quarter due to the additional race, though the expenses per race were lower in 2009 than 2008 primarily due to cost savings initiatives.

General and administrative expenses of $2,955,000 in the fourth quarter of 2009 were down slightly from $3,108,000 for the same quarter last year. The decrease is due to cost saving initiatives, including the closure of Memphis.

Depreciation and amortization was $1,679,000 during the fourth quarter of 2009 compared with $1,770,000 in the fourth quarter of 2008. The decrease is primarily due to a reduction in our depreciable asset base resulting from the impairment charges in the fourth quarter of 2008 and the third quarter of 2009.

Net interest expense decreased by $104,000 in the fourth quarter of 2009, primarily as a result of lower interest rates compared to last year.

The results for the fourth quarter of 2008 include a non-cash impairment charge of $12,795,000 to write down the carrying value of the Midwest facilities to their fair value. The Company’s financial results are shown on an adjusted basis on the accompanying schedule – “Reconciliation of GAAP Loss to Adjusted (Loss) Earnings”. Loss before income tax benefit for the fourth quarter of 2009 was $7,396,000 compared with $7,724,000 on an adjusted basis for the fourth quarter of last year.

Net loss was $4,571,000 or $.13 per diluted share in the fourth quarter of 2009 compared with $3,760,000 or $.10 per diluted share on an adjusted basis for the same period last year.

For the year ended December 31, 2009, total revenues were $70,878,000 compared with $84,279,000 in the prior year. We promoted one fewer major event in 2009 then we did in 2008.

On an adjusted basis, net (loss) earnings were ($1,034,000) or ($.03) per diluted share for the year ended 2009 compared with $2,638,000 or $.07 per diluted share in 2008.

* * *

This release contains or may contain forward-looking statements based on management’s beliefs and assumptions. Such statements are subject to various risks and uncertainties which could cause results to vary materially. Please refer to the Company’s SEC filings for a discussion of such factors.

Dover Motorsports, Inc. (NYSE: DVD) is a leading promoter of motorsports events in the United States. DVD subsidiaries operate three tracks in three states, and present several hundred motorsports events each year. For 2009, 14 major national events were held, including races sanctioned by NASCAR and NHRA. Dover Motorsports, Inc. owns and operates Dover International Speedway in Dover, Del., Gateway International Raceway near St. Louis, Mo., and Nashville Superspeedway near Nashville, Tenn. For further information log on to www.DoverMotorsports.com.

DOVER MOTORSPORTS, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

In Thousands, Except Per Share Amounts

(Unaudited)

	Three Months Ended December 31,						Years Ended December 31,
	2009			2008			2009			2008
Revenues:
Admissions	$	1,592		$	933		$	24,741		$	31,034
Event-related		1,711			1,227			17,971			25,652
Broadcasting		715			398			27,999			27,532
Other		13			3			167			61
		4,031			2,561			70,878			84,279
Expenses:
Operating and marketing		5,961			4,461			50,466			55,262
General and administrative		2,955			3,108			12,174			12,528
Impairment charge		—			12,795			7,478			12,795
Depreciation and amortization		1,679			1,770			6,467			6,909
		10,595			22,134			76,585			87,494
Operating loss		(6,564	)		(19,573	)		(5,707	)		(3,215	)
Interest income		7			14			14			83
Interest expense		(849	)		(960	)		(2,124	)		(4,078	)
Gain (loss) on sale of investments		10			—			(92	)		—
Loss before income tax benefit		(7,396	)		(20,519	)		(7,909	)		(7,210	)
Income tax benefit		2,825			8,442			2,014			1,531
Net loss	$	(4,571	)	$	(12,077	)	$	(5,895	)	$	(5,679	)
Net loss per common share:
Basic	$	(0.13	)	$	(0.34	)	$	(0.16	)	$	(0.16	)
Diluted	$	(0.13	)	$	(0.34	)	$	(0.16	)	$	(0.16	)
Weighted average shares outstanding:
Basic		36,025			35,958			36,021			35,940
Diluted		36,025			35,958			36,021			35,940

DOVER MOTORSPORTS, INC.

RECONCILIATION OF GAAP LOSS TO ADJUSTED (LOSS) EARNINGS

In Thousands, Except Per Share Amounts

(Unaudited)

	Three Months Ended December 31,						Years Ended December 31,
	2009			2008			2009			2008
GAAP loss before income tax benefit	$	(7,396	)	$	(20,519	)	$	(7,909	)	$	(7,210	)
Non-cash impairment charges (1)		—			12,795			7,478			12,795
Adjusted (loss) earnings before income taxes	$	(7,396	)	$	(7,724	)	$	(431	)	$	5,585
GAAP net loss	$	(4,571	)	$	(12,077	)	$	(5,895	)	$	(5,679	)
Non-cash impairment charges, net of income taxes (1)		—			8,317			4,861			8,317
Adjusted net (loss) earnings	$	(4,571	)	$	(3,760	)	$	(1,034	)	$	2,638
GAAP net loss per common share - diluted	$	(0.13	)	$	(0.34	)	$	(0.16	)	$	(0.16	)
Non-cash impairment charges, net of income taxes (1)		—			0.23			0.13			0.23
Adjusted net (loss) earnings per common share - diluted (2)	$	(0.13	)	$	(0.10	)	$	(0.03	)	$	0.07

⁽¹⁾ During the third quarter of 2009, we reviewed the long-lived assets of our Memphis Motorsports Park facility for impairment. Based on the results of this analysis, we recorded a non-cash impairment charge of $7,478,000 to write-down the carrying value of long-lived assets at our Memphis facility to fair value.

During the fourth quarter of 2008, we reviewed the long-lived assets of each of our three Midwest facilities for impairment. Based on the results of this analysis, we recorded non-cash impairment charges of $2,150,000, $3,140,000 and $7,505,000 to write-down the carrying value of long-lived assets at our Memphis, Nashville and Gateway facilities, respectively, to fair value.

⁽²⁾ The components of loss per diluted share for the three months ended December 31, 2008 do not add to the adjusted loss per diluted share due to rounding.

DOVER MOTORSPORTS, INC.

CONSOLIDATED BALANCE SHEETS

In Thousands

(Unaudited)

	December 31, 2009			December 31, 2008
ASSETS
Current assets:
Cash and cash equivalents	$	155		$	288
Accounts receivable		1,260			1,950
Inventories		277			273
Prepaid expenses and other		1,528			1,697
Receivable from Dover Downs Gaming & Entertainment, Inc.		—			11
Deferred income taxes		118			152
Assets held for sale		2,800			—
Total current assets		6,138			4,371
Property and equipment, net		130,182			144,684
Restricted cash		5,333			5,219
Other assets, net		712			594
Deferred income taxes		164			311
Total assets	$	142,529		$	155,179
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	456		$	604
Accrued liabilities		2,986			2,767
Payable to Dover Downs Gaming & Entertainment, Inc.		5			—
Income taxes payable		199			159
Current portion of bonds payable		1,235			1,130
Deferred revenue		5,931			6,962
Total current liabilities		10,812			11,622
Revolving line of credit		41,000			42,200
Bonds payable		1,739			2,971
Liability for pension benefits		1,695			2,555
Other liabilities		875			1,920
Non current income taxes payable		3,269			9,630
Deferred income taxes		20,850			16,834
Total liabilities		80,240			87,732
Stockholders’ equity:
Common stock		1,806			1,787
Class A common stock		1,851			1,851
Additional paid-in capital		100,943			100,539
Accumulated deficit		(40,994	)		(34,366	)
Accumulated other comprehensive loss		(1,317	)		(2,364	)
Total stockholders’ equity		62,289			67,447
Total liabilities and stockholders’ equity	$	142,529		$	155,179

DOVER MOTORSPORTS, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

In Thousands

(Unaudited)

	Years Ended December 31,
	2009			2008
Operating activities:
Net loss	$	(5,895	)	$	(5,679	)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization		6,467			6,909
Amortization of credit facility fees		229			175
Stock-based compensation		495			598
Deferred income taxes		(3,005	)		(2,544	)
Impairment charge		7,478			12,795
Changes in assets and liabilities:
Accounts receivable		690			(228	)
Inventories		(4	)		(88	)
Prepaid expenses and other		212			50
Accounts payable		(148	)		(72	)
Accrued liabilities		(69	)		(691	)
Payable to/receivable from Dover Downs Gaming & Entertainment, Inc.		16			7
Income taxes payable		111			(120	)
Deferred revenue		(1,031	)		(1,727	)
Other liabilities		(293	)		663
Net cash provided by operating activities		5,253			10,048
Investing activities:
Capital expenditures		(1,912	)		(6,577	)
Restricted cash		(114	)		(1,050	)
Proceeds from sale of available-for-sale securities		335			—
Purchase of available-for-sale securities		(333	)		(50	)
Net cash used in investing activities		(2,024	)		(7,677	)
Financing activities:
Borrowings from revolving line of credit		37,050			38,600
Repayments on revolving line of credit		(38,250	)		(38,700	)
Repayments of bonds payable		(1,127	)		(108	)
Dividends paid		(733	)		(2,184	)
Repurchase of common stock		(19	)		(137	)
Credit facility fees		(283	)		(124	)
Proceeds from stock options exercised		—			216
Excess tax benefit on stock awards		—			27
Net cash used in financing activities		(3,362	)		(2,410	)
Net decrease in cash and cash equivalents		(133	)		(39	)
Cash and cash equivalents, beginning of year		288			327
Cash and cash equivalents, end of year	$	155		$	288