racing circuit vs raceway

racing circuit and raceway both are nouns.

Word	Noun	Adjective	Verb	Adverb
racing circuit	Yes	No	No	No
raceway	Yes	No	No	No

As nouns, raceway is a hypernym of racing circuit; that is, raceway is a word with a broader meaning than racing circuit:

Other hypernyms of racing circuit include racecourse, racetrack, track.

racing circuit (noun)	raceway (noun)
a racetrack for automobile races	a canal for a current of water
	a course over which races are run