Urban One, Inc. Announces it will Pursue Running a 2023 Referendum Campaign to Approve the One Resort + Casino Project

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Aug 04, 2022, 18:30 ET

SILVER SPRING, Md., Aug. 4, 2022 /PRNewswire/ -- Urban One announced today that it will pursue running a referendum campaign to approve the One Resort + Casino project in the 2023 election cycle as provided by the current Virginia budget language. The project, set to bring thousands of well-paying jobs and millions in much-needed tax revenue for schools, first responders, roads, and infrastructure to the City of Richmond, was approved by the City Council for a second referendum. The City applied for and received a final court order allowing the referendum to move forward in the 2022 election; however, the recently passed Virginia state budget contained language that sought to delay the referendum to 2023. "We were disappointed with the introduction of the budget language, especially after both the House and Senate bills containing similar language were defeated in the General Assembly," said Alfred Liggins, CEO of Urban One. "Despite strong legal arguments to support moving forward in 2022, we have asked our partner, the City of Richmond, to withdraw their petition for a November 2022 ballot referendum because we feel a long protracted legal dispute at this time does not best serve the citizens of Richmond or the State of Virginia. We are now focused on winning the Richmond casino referendum in 2023."

Urban One has been active in Richmond for over 20 years with its Radio Stations iPower 92.1, Kiss 99.3/105.7, The Box 99.5/102.7, and Praise 104.7. The One Resort + Casino project will be located in South Richmond, right off I-95 at the Bell's Road exit. In addition to bringing much-needed revenue to the City, the project will showcase the very best of Richmond by featuring Richmond-based restaurants, local art, production studios, and 50 acres of green space for all to enjoy. "There is no doubt that Richmond is by far the best location for a project like this, with its central location, vibrancy and existing infrastructure," said Cathy Hughes', Founder and Chairperson of Urban One. "I'm grateful for the outpouring of broad support that we have received from Richmond and look forward to getting back on the air to continue the dialogue about our shared vision for One Resort + Casino."

About Urban One, Inc. (urban1.com), together with its subsidiaries, is the largest diversified media company that primarily targets Black Americans and urban consumers in the United States. The Company owns TV One, LLC (tvone.tv), a television network serving more than 46 million households and CLEO TV, its sister network with a an almost 41 million household reach. As of March 31, 2021, we owned and/or operated 64 independently formatted, revenue producing broadcast stations (including 54 FM or AM stations, 8 HD stations, and the 2 low power television stations we operate) branded under the tradename "Radio One" in 13 urban markets in the United States. Through its controlling interest in Reach Media, Inc. (blackamericaweb.com), the Company also operates syndicated programming including the Rickey Smiley Morning Show, the Russ Parr Morning Show and the DL Hughley Show. In addition to its radio and television broadcast assets, Urban One owns iOne Digital (ionedigital.com), our wholly owned digital platform serving the African American community through social content, news, information, and entertainment websites, including its Cassius, Bossip, HipHopWired and MadameNoire digital platforms and brands. We also have invested in a minority ownership interest in MGM National Harbor, a gaming resort located in Prince George's County, Maryland. Through our national multi-media operations, we provide advertisers with a unique and powerful delivery mechanism to the African American and urban audiences.