Radio One Investing In MGM's Washington Casino Project
October 28, 2013 at 4:24 AM (PT)
RADIO ONE is partnered with MGM RESORTS INTERNATIONAL in a bid to win the casino license for WASHINGTON's NATIONAL HARBOR. The company plans to invest $40 million in the $925 million project.
MGM RESORTS INTERNATIONAL Chairman/CEO JIM MURREN said, "RADIO ONE is a great partner for us, because they have the capability to add a diverse perspective to our management of the project, help us communicate our vision to the community and give us the ability to build brand awareness in the important urban markets where they have a presence."
LORENZO CREIGHTON, President and COO of MGM NATIONAL HARBOR, added, "We look forward to working with CATHY HUGHES, chairperson and founder of RADIO ONE. She knows this community and she represents a true success story." HUGHES and her son, President and CEO ALFRED LIGGINS, said CREIGHTON, have “(t)ogether, through their successful strategy of acquiring underperforming radio stations and turning them into broadcast powerhouses... transformed one radio station into a national broadcast operation as well as building one of the fastest growing, most successful cable TV networks in the last decade. That’s the kind of local partner we want."