Urban One Proposes Casino Project In Richmond

Casino Project

URBAN ONE is partnering with PENINSULA PACIFIC ENTERTAINMENT, owner of COLONIAL DOWNS racetrack, in a proposal for a $517 million casino resort and music venue in RICHMOND, VA, reports the RICHMOND TIMES-DISPATCH. The 300,000-square-foot casino would be built on land in SOUTH RICHMOND currently owned by PHILIP MORRIS USA parent ALTRIA GROUP INC. south of the company's cigarette plant just off I-95.

CEO ALFRED LIGGINS III told the TIMES DISPATCH that his company would be the majority investor in the project. URBAN ONE has a 7% stake in the MGM NATIONAL HARBOR casino just outside WASHINGTON, DC and owns a cluster of radio stations in the RICHMOND market, R&B WKJS-WKJM (99.3 AND 105.7 KISS FM), Hip Hop WCDX-W281AW (POWER 92.1 AND 104.1), Gospel WPZZ (PRAISE 104.7), and Sports WXGI-A-W258DC-WTPS-A-W274BX (ESPN RICHMOND).

Applications for casino projects were due on MONDAY afternoon. The city of RICHMOND will evaluate the proposals and select a project to be put forth for approval by voters in NOVEMBER.

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