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Cart, Dover Downs Work Together to Pursue Champ Car Racing Opportunities

15 June 2000

Cart, Dover Downs Work Together to Pursue Champ Car Racing Opportunities

    DETROIT, and DOVER, Del., June 14 Championship Auto Racing
Teams, Inc., and Dover Downs Entertainment, Inc.,
announced today an initiative designed to develop new markets for CART
open-wheel races beginning in 2002.
    The two companies have agreed to work together to identify the potential
to develop races in strategic Champ Car markets.  Dover Downs, through its
subsidiary -- The Grand Prix Association of Long Beach (GPALB) -- will pursue
the opportunities to develop street races in markets identified by CART.  The
markets are: Atlanta, Boston, Denver, New York City, Philadelphia, Phoenix,
San Francisco and Washington, D.C.
    In today's announcement, it also was disclosed that CART would not be
returning to Gateway International Raceway, near St. Louis, in 2001.
    "We understand CART has re-evaluated its geographic priorities beginning
with the 2001 racing season," said Denis McGlynn, president and CEO of Dover
Downs Entertainment.  "While we are disappointed that Gateway International
Raceway will not be playing host to a CART event in 2001, we look forward to
working with CART on the development of new markets which we hope will allow
us to expand our street race promotions with additional events beginning as
soon as 2002.
    "Chris Pook (president of the GPALB and a director for Dover Downs) is
unquestionably the premier street race promoter in the industry and his talent
and experience, along with that of the Long Beach staff, will be of great
value in this new endeavor.  This should also prove to be beneficial to the
shareholders of both Dover Downs and CART."
    CART Chairman and CEO Andrew Craig sees a focus on urban markets as an
excellent opportunity to showcase the world's fastest open-wheel racing series
-- the FedEx Championship Series -- in the country's most desirable markets.
    "Championship Auto Racing Teams wants to ensure that all of its race
events reach out to the strongest possible fan base and provide optimal
benefit for sponsors," said Craig.  "Races are a finite resource and we are
working to place our events in the very best markets.  Through this
non-exclusive initiative, we are taking a pro-active approach in identifying
where we want to race.
    "Dover Downs has one of the strongest teams in racing when it comes to the
creation of world-class street racing events," continued Craig.  "Chris Pook
set the standard for the development and promotion of street races with the
Toyota Grand Prix of Long Beach.  We believe that there are significant
opportunities to replicate the success of Long Beach elsewhere."
    Pook is spearheading the initiative on behalf of DVD.

    Championship Auto Racing Teams, Inc. owns, operates and
markets the FedEx Championship Series. Champions Juan Montoya, Michael
Andretti and Jimmy Vasser are among the drivers who battle for the FedEx
Championship Series title on oval circuits as well as temporary and permanent
road courses. CART also owns and operates its top two development series, the
Dayton Indy Lights Championship and the Toyota Atlantic Championship. Learn
more about CART's open-wheel racing series at (http://www.cart.com.).

    Dover Downs Entertainment, Inc. operates a multi-purpose complex
conducting NASCAR auto racing, pari-mutuel harness horse racing, pari-mutuel
wagering on simulcast harness and thoroughbred horse races and video lottery
(slot) machine operations in Dover, Delaware.  The Company operates the
historic Nashville Speedway at the Tennessee State Fairgrounds in Nashville,
Tennessee and is constructing the new Nashville Superspeedway in Lebanon,
Tennessee expected to open in 2001; organizes and promotes the Toyota Grand
Prix of Long Beach in Long Beach, California; and owns and operates Gateway
International Raceway near St. Louis, Missouri and Memphis Motorsports Park
near Memphis, Tennessee.

    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.