September 17, 2007

ALABAMA MOTORSPORTS PARK KEEPS PACE
Gulf Coast Entertainment, L.L.C. Continues Planning For Unprecedented Facility

MOBILE, AL — Gulf Coast Entertainment, L.L.C. learned today the Army Corps of Engineers is providing a review of its permit under an Environmental Assessment status.  Such designation will allow for the Alabama Motorsports Park, A Dale Earnhardt Jr. Speedway to keep pace with the proposed development timing.

The new proposal outlines how approximately 2000 acres will be developed to accommodate many forms of motorsports activities. The new site plan includes three motorsports venues—an oval track which is branded a Dale Earnhardt Jr. Speedway, a road course and a karting track—and will accommodate stock car, truck, open wheel, sprint and motorcycle racing. 

In addition to motorsports, the master plan includes a wide variety of commercial enterprises including residential, hospitality, retail, restaurants and location based entertainment. 

“Though we are disappointed that our revised proposal does not feature a drag strip, we are pleased to have been able to design a comprehensive project very similar to what the investors originally envisioned,” said Mike Dow, president of Gulf Coast Entertainment.  “This past year we’ve done further due diligence, met with various sanctioning bodies, explored opportunities with cutting-edge entertainment developers and feel we have designed a complex that will yield an array of entertainment options and economic impacts for decades.”

The dynamic project continues to morph itself into what the development group announced just over a year ago.  The complex is an entertainment destination with racing venues as the anchor tenants. The development’s large acreage, coupled with racing venues, is unique and requires responsible land development.  Among the goals of the new submission was to diminish wetlands, noise, traffic and dust impacts to reinforce GCE’s commitment to sustainable development.

“I would like for the Corps, the City of Prichard and the surrounding areas to continue to work with the community to make this a successful project for the entire region,” stressed Prichard Mayor Ron Davis.

Review of Corps Submission
May 2007-          Submitted Permit Application to Corps
June 2007            Public Notice Published
July 2007-           End of Public Comment Period, U.S. Fish and Wildlife Services Granted a 30-day Comment Period Extension  
August 2007-      End of Public Comment Period as Extended
September 2007-GCE Submits New Proposal to Corps,Corps Grants GCE an EA status

Alabama Motorsports Park, A Dale Earnhardt Jr. Speedway is a property of Gulf Coast Entertainment, L.L.C.  The entertainment complex will feature three racing venues which will accommodate many forms of racing on its oval, road course and karting facilities.  In addition, the project will include commercial enterprises including residential, hospitality, retail, restaurants and location based entertainment.  Located in Mobile County, the complex is expected to be fully operational in 2010.