Exhibit 99.1

FOR IMMEDIATE RELEASE	For further information, call:
	Patrick J. Bagley, Sr. Vice President-Finance
Dover, Delaware, January 24, 2008	(302) 883-6530

DOVER MOTORSPORTS, INC. REPORTS RESULTS

FOR THE QUARTER AND YEAR ENDED DECEMBER 31, 2007

Dover Motorsports, Inc. (NYSE: DVD) today reported its results for the quarter and year ended December 31, 2007.

The Company’s fourth quarter is a seasonally slow quarter and typically results in a loss. We only promoted one major event in the fourth quarter of both 2007 and 2006 – the NASCAR Busch Series race at Memphis Motorsports Park.

For the quarter ended December 31, 2007, revenues were $3,413,000 compared with $3,029,000 in the fourth quarter of 2006. Operating and marketing expenses, which were $5,049,000 in the quarter, were affected by increased sales and marketing costs, higher utilities, repairs and other facility costs. Net interest expense increased by $336,000 in the fourth quarter of 2007 primarily because of a $191,000 interest accrual related to FASB Interpretation No. 48, “Accounting for Uncertainty in Income Taxes” as well as higher average debt outstanding.

Loss before income tax benefit for the quarter ended December 31, 2007 was $7,599,000 compared with $7,093,000 in the prior year.

The $4,123,000 income tax benefit in the fourth quarter of 2007 represented an effective tax rate of 54.3% compared with the prior year’s fourth quarter effective tax rate of 32.2%, which was impacted by an impairment charge.

For the quarter ended December 31, 2007, net loss was $3,476,000 or $.10 per diluted share compared with $4,806,000 or $.13 per diluted share for the same period last year.

For the year ended December 31, 2007 overall revenues were $86,052,000 compared with $91,274,000 in the prior year. As previously reported, the industry-wide TV broadcasting rights fee contract was lower in 2007, which represented $3,164,000 of the decrease.

For the year ended December 31, 2007 earnings before income taxes were $7,342,000 compared with a loss of $52,837,000 in prior year. The prior year’s results included a non-cash impairment charge of $64,618,000 related primarily to the write-down of the Company’s Midwest properties. The accompanying schedule – “Reconciliation of GAAP (Loss) Earnings to Adjusted (Loss) Earnings” displays in tabular form the impact of last year’s impairment charge on the Company’s results. On an adjusted basis, earnings before income taxes in 2006 were $11,781,000. On an after-tax adjusted basis, net earnings were $3,744,000 in 2007 compared with $5,650,000 in 2006.

Earnings per diluted share was $.10 for fiscal year ended 2007 compared with a net loss of $.98 per diluted share in 2006 after the impairment charges noted above. On an adjusted basis, earnings per diluted share was $.16 in 2006.

Net cash flow provided by operating activities of continuing operations for the year ended December 31, 2007 was $11,838,000 compared with $17,525,000 for the prior year. Capital expenditures were $11,548,000 in 2007 compared with $6,331,000 last year. Completion of additional skybox suites, a new infield media center, and engineering and utility work for an expanded expo area and new fan entrance at Dover represented the majority of the Company’s spending in 2007. Long-term debt and notes payable to banks was $46,509,000 at December 31, 2007 compared with $43,906,000 at December 31, 2006.

* * *

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. is a leading promoter of motorsports events in the United States. Its motorsports subsidiaries operate four motorsports tracks in three states and promote motorsports events under the auspices of three of the premier sanctioning bodies in motorsports – NASCAR, IRL, and NHRA. The Company owns and operates Dover International Speedway in Dover, Delaware; Gateway International Raceway near St. Louis, Missouri; Memphis Motorsports Park in Memphis, Tennessee; and Nashville Superspeedway near Nashville, Tennessee. 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,
	2007			2006			2007			2006
Revenues:
Admissions	$	949		$	935		$	33,923		$	35,070
Event-related		1,747			1,281			24,786			25,585
Broadcasting		709			739			27,272			30,436
Other		8			74			71			183
		3,413			3,029			86,052			91,274
Expenses:
Operating and marketing		5,049			4,593			55,621			54,178
Impairment charges		—			—			—			64,618
General and administrative		3,203			3,210			12,571			12,626
Depreciation and amortization		1,659			1,554			6,369			8,726
		9,911			9,357			74,561			140,148
Operating (loss) earnings		(6,498	)		(6,328	)		11,491			(48,874	)
Interest income		79			44			186			95
Interest expense		(1,180	)		(809	)		(4,335	)		(4,058	)
(Loss) earnings before income tax benefit (expense)		(7,599	)		(7,093	)		7,342			(52,837	)
Income tax benefit (expense)		4,123			2,287			(3,598	)		17,492
Net (loss) earnings	$	(3,476	)	$	(4,806	)	$	3,744		$	(35,345	)
Net (loss) earnings per common share:
Basic	$	(0.10	)	$	(0.13	)	$	0.10		$	(0.98	)
Diluted	$	(0.10	)	$	(0.13	)	$	0.10		$	(0.98	)
Weighted average shares outstanding:
Basic		35,879			35,878			35,875			35,994
Diluted		35,879			35,878			36,017			35,994

DOVER MOTORSPORTS, INC.

RECONCILIATION OF GAAP (LOSS) EARNINGS TO ADJUSTED (LOSS) EARNINGS

In Thousands, Except Per Share Amounts

(Unaudited)

	Three Months Ended December 31,						Years Ended December 31,
	2007			2006			2007		2006
GAAP (loss) earnings before income tax benefit (expense)	$	(7,599	)	$	(7,093	)	$	7,342	$	(52,837	)
Non-cash impairment charges (1)		—			—			—		64,618
Adjusted (loss) earnings before income tax benefit (expense)	$	(7,599	)	$	(7,093	)	$	7,342	$	11,781
GAAP net (loss) earnings	$	(3,476	)	$	(4,806	)	$	3,744	$	(35,345	)
Non-cash impairment charges, net of income taxes (1)		—			—			—		40,995
Adjusted net (loss) earnings	$	(3,476	)	$	(4,806	)	$	3,744	$	5,650
GAAP net (loss) earnings per common share - diluted	$	(0.10	)	$	(0.13	)	$	0.10	$	(0.98	)
Non-cash impairment charges, net of income taxes (1)		—			—			—		1.14
Adjusted net (loss) earnings per common share - diluted	$	(0.10	)	$	(0.13	)	$	0.10	$	0.16

⁽¹⁾ During the third quarter of 2006, 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 $16,170,000, $7,882,000 and $37,357,000 to write-down the carrying value of long-lived assets at our Nashville, Memphis and Gateway facilities, respectively, to fair value. Based on the factors related to the long-lived assets impairment, we completed an assessment of goodwill for potential impairment and determined that there was an impairment loss related to the goodwill balance of $2,487,000 that is associated with the Midwest operations. As a result of this analysis, we recorded a non-cash impairment charge of $2,487,000 to write-down to zero the carrying value of our goodwill. Additionally, in connection with the sale of our corporate aircraft, we recorded a non-cash impairment charge of $722,000 as of September 30, 2006, to write-down the carrying amount of the aircraft to fair value.

DOVER MOTORSPORTS, INC.

CONSOLIDATED BALANCE SHEETS

In Thousands

(Unaudited)

	December 31, 2007			December 31, 2006
ASSETS
Current assets:
Cash and cash equivalents	$	327		$	298
Accounts receivable		1,722			2,935
Inventories		185			244
Prepaid expenses and other		1,773			1,808
Receivable from Dover Downs Gaming & Entertainment, Inc.		18			9
Deferred income taxes		186			193
Total current assets		4,211			5,487
Property and equipment, net		157,748			152,502
Restricted cash		4,169			3,684
Other assets, net		1,578			1,261
Total assets	$	167,706		$	162,934
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	945		$	1,938
Accrued liabilities		3,464			3,400
Income taxes payable		257			478
Current portion of bonds payable		111			695
Deferred revenue		8,689			10,008
Total current liabilities		13,466			16,519
Revolving line of credit		42,300			39,000
Bonds payable		4,098			4,211
Liability for pension benefits		736			771
Other liabilities		1,202			—
Noncurrent income taxes payable		9,687			—
Deferred income taxes		20,101			28,173
Total liabilities		91,590			88,674
Stockholders’ equity:
Common stock		1,672			1,635
Class A common stock		1,952			1,977
Additional paid-in capital		99,849			99,412
Accumulated deficit		(26,503	)		(28,071	)
Accumulated other comprehensive loss		(854	)		(693	)
Total stockholders’ equity		76,116			74,260
Total liabilities and stockholders’ equity	$	167,706		$	162,934

DOVER MOTORSPORTS, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

In Thousands

(Unaudited)

	Years Ended December 31,
	2007			2006
Operating activities:
Net earnings (loss)	$	3,744		$	(35,345	)
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities of continuing operations:
Depreciation and amortization		6,369			8,726
Amortization of credit facility fees		183			186
Stock-based compensation		493			411
Deferred income taxes		2,038			(19,890	)
Impairment charges		—			64,618
Changes in assets and liabilities:
Accounts receivable		1,213			(569	)
Inventories		59			(14	)
Prepaid expenses and other		(567	)		38
Receivable from/payable to Dover Downs Gaming & Entertainment, Inc.		(9	)		(24	)
Accounts payable		(993	)		461
Accrued liabilities		53			(1,703	)
Income taxes payable		(221	)		186
Deferred revenue		(1,319	)		486
Other liabilities		795			(42	)
Net cash provided by operating activities of continuing operations		11,838			17,525
Net cash used in operating activities of discontinued operation		—			(144	)
Investing activities:
Capital expenditures		(11,548	)		(6,331	)
Restricted cash		(485	)		(484	)
Proceeds from the sale of corporate aircraft, net		—			4,098
Net cash used in investing activities		(12,033	)		(2,717	)
Financing activities:
Borrowings from revolving line of credit		40,400			37,900
Repayments of revolving line of credit		(37,100	)		(48,000	)
Repayments of bonds payable		(697	)		(872	)
Dividends paid		(2,176	)		(2,179	)
Repurchase of common stock		(54	)		(1,954	)
Credit facility fees		(159	)		(220	)
Excess tax benefit on stock awards		10			16
Other		—			(10	)
Net cash provided by (used in) financing activities		224			(15,319	)
Net increase (decrease) in cash and cash equivalents		29			(655	)
Cash and cash equivalents, beginning of period		298			953
Cash and cash equivalents, end of period	$	327		$	298