The company will officially change its name to Urban One in January with the slugline, “Representing Black America.” Radio One, TV One and Interactive One will keep their individual names and operate under the new corporate name. Liggins also updated investors on Radio One’s Casino investment…
Radio One has a $5 million investment in an MGM casino in Maryland that is set to open in December. That investment grows to $40 million if the gaming board approves Radio One’s applications. That gives the company a 5% stake in the casino. Liggins says the casino is expecting to see $700 million per year in gaming revenue, of which Radio One would get between $6 million and $7 million. Liggins said the casino is unbelievable. “It looks like it’s right out of Las Vegas.
The $1.4 billion resort is located just 10 miles from the White House and has a 24-story luxury hotel with 308 guestrooms. The 23-acre property overlooks the Potomac River across from Alexandria, Virginia, southeast of the nation’s capital.
