UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
Dover Motorsports, Inc.
--------------------------------------------------------------------------------
(Name of Issuer)
$.10 Par Value Common Stock
--------------------------------------------------------------------------------
(Title of Class of Securities)
260174 10 7
--------------------------------------------------------------------------------
(CUSIP Number)
Michele M. Rollins, 2200 Concord Pike, 15/th/ Floor,
Wilmington, DE 19803, (302) 426-2900
--------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive
Notices and Communications)
August 12, 2002
--------------------------------------------------------------------------------
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Sections 240.13d-1(e), 240.13d-1(f) or, 240.13d-1(g), check
the following box [_].
SCHEDULE 13D
DOVER MOTORSPORTS, INC.
CUSIP NO. 260174 10 7 Page 2 of 6
(1) NAME OF REPORTING PERSON
Michele M. Rollins
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Not Required
--------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [_]
(b) [_]
--------------------------------------------------------------------------------
(3) SEC USE ONLY
-------------------------------------------------------------------------------
(4) SOURCE OF FUNDS*
PF
-------------------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) [_]
--------------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
(7) SOLE VOTING POWER
1,423,943
--------------------------------------------------------------------------------
SCHEDULE 13D
DOVER MOTORSPORTS, INC.
CUSIP NO. 260174 10 7 Page 3 of 6
NUMBER OF SHARES (8) SHARED VOTING POWER
BENEFICIALLY OWNED
BY EACH 0
REPORTING PERSON WITH
(9) SOLE DISPOSITIVE POWER
1,423,943
(10) SHARED DISPOSITIVE POWER
0
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,423,943
--------------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[_]
--------------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.5%
--------------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON*
IN
--------------------------------------------------------------------------------
SCHEDULE 13D
DOVER MOTORSPORTS, INC.
CUSIP NO. 260174 10 7 Page 4 of 6
Item 1. Security and Issuer.
The class of equity security to which this Schedule 13D relates is the Common
Stock (the "Common Stock"), par value $.10 per share, of Dover Motorsports,
Inc., a Delaware corporation (the "Company" or the "issuer"). The Common Stock
is publicly traded. The ownership reflected above includes both Common Stock and
Class A Common Stock. 1,097,150 shares are Class A Common Stock and 326,793
shares are Common Stock. Class A Common Stock is not publicly traded. Class A
Common Stock entitles the holder to ten (10) votes per share and is convertible
at any time into shares of Common Stock on a one-for-one basis at the option of
the shareholder. As a result, under Rule 13d, a holder of Class A Common Stock
is deemed to have beneficial ownership of the Common Stock which such
shareholder may acquire upon conversion of the Class A Common Stock. The
percentages set forth herein assume the conversion of all shares of Class A
Common Stock beneficially owned by the Reporting Person into Common Stock. The
principal office of the Company is located at 1131 N. DuPont Highway, Dover,
Delaware 19901.
Item 2. Identity and Background.
(a) Michele M. Rollins (the "Reporting Person")
(b) 2200 Concord Pike, 15/th/ Floor, Wilmington, DE 19803
(c) The Reporting Person's principal occupation is President of Rollins
Jamaica, Ltd., a Delaware corporation, whose business address is set forth
in Item 2(b).
(d) During the last five years, the Reporting Person has not been convicted in
a criminal proceeding.
(e) During the last five years, the Reporting Person has not been a party to a
civil proceeding of a judicial or administrative body of competent
jurisdiction in which, as a result of such proceeding, the Reporting Person
was or is subject to any judgment, decree or final order enjoining future
violations of, or prohibiting or mandating activities subject to, federal
or state securities laws or finding any violation with respect to such
laws.
(f) The Reporting Person is a citizen of the United States of America.
Item 3. Source and Amount of Funds or Other Consideration.
This 13D is filed in connection with the acquisition by the Reporting Person on
August 12, 2002 of 290,700 shares of Common Stock from the Company at a price
per share of $4.30, for an aggregate purchase price of $1,250,010. The Reporting
Person used personal funds for the acquisition.
SCHEDULE 13D
DOVER MOTORSPORTS, INC.
CUSIP NO. 260174 10 7 Page 5 of 6
Item 4. Purpose of Transaction.
Please refer to Item 3. The Reporting Person does not have any plans or
proposals which relate to or would result in:
(a) The acquisition by any person of additional securities of the issuer, or
the disposition of securities of the issuer;
(b) An extraordinary corporate transaction, such as a merger, reorganization or
liquidation, involving the issuer or any of its subsidiaries;
(c) A sale or transfer of a material amount of assets of the issuer or any of
its subsidiaries;
(d) Any change in the present board of directors or management of the issuer,
including any plans or proposals to change the number of term of directors
or to fill any existing vacancies on the board;
(e) Any material change in the present capitalization or dividend policy of the
issuer;
(f) Any other material change in the issuer's business or corporate structure;
(g) Changes in the issuer's charter, by-laws or instruments corresponding
thereto or other actions which may impede the acquisition of control of the
issuer by any person;
(h) Causing a class of securities of the issuer to be delisted from a national
securities exchange or to cease to be authorized to be quoted in an
inter-dealer quotation system of a registered national securities
association;
(i) A class of equity securities of the issuer becoming eligible for
termination of registration pursuant to Section 12(g)(4) of the Act; or
(j) Any action similar to any of those enumerated above.
Item 5. Interest in Securities of the Issuer.
(a) 326,793 shares of Common Stock and 1,097,150 shares of Class A Common Stock
or 8.5% of the shares of Common Stock outstanding based on the Company's
most recent filing with the Securities Exchange Commission (which for these
purposes assumes the conversion of all shares of Class A Common Stock
beneficially owned by the Reporting Person).
SCHEDULE 13D
DOVER MOTORSPORTS, INC.
CUSIP NO. 260174 10 7 Page 6 of 6
(b) Please refer to Items 7 through 9 on pages 2 and 3 and Item 5(a) above.
(c) Transactions effected during the past 60 days: Please refer to Item 3.
(d) No person is known to have the right to receive or the power to direct the
receipt of dividends from, or the proceeds from the sale of, the securities
covered by this 13D.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to
Securities of the Issuer.
There are no contracts, arrangements, understandings or relationships (legal or
otherwise) among the persons named in Item 2 and between such persons and any
person with respect to any securities of the issuer, including but not limited
to transfer or voting of any of the securities, finder's fees, joint ventures,
loan or option arrangements, puts or calls, guarantees of profits, division of
profits or loss, or the giving or withholding of proxies.
Item 7. Material to be filed as Exhibits.
None.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
Date: August 15, 2002 /s/ Michele M. Rollins
By: Michele M. Rollins
Attention: Intentional misstatements or omissions of fact constitute Federal
criminal violations (See 18 U.S.C. 1001)