Benzinga | Jan 27, 2022 01:05PM EST

Urban One Reports In 8-K Filing City Of Richmond, Virginia Adopted New Resolutions In Effort To Bring ONE Casino + Resort To The City

On January 24, 2022, the Council for City of Richmond, Virginia (the "City") adopted a new resolution in efforts to bring the ONE Casino + Resort to the City. In a press release dated January 24, 2022, the City announced that it considered the ONE Casino + Resort project to be part of the economic engine the City of Richmond needs. The new resolution is the first step in pursuit of a second referendum. Upon obtaining precertification for RVA Entertainment Holdings, LLC, Urban One's wholly owned subsidiary, by the Virginia Lottery Board, the City will then pursue an order from the Circuit Court for the City of Richmond ordering a second referendum. If the City is successful in obtaining the precertification and the court order, the second referendum would be scheduled and it is currently anticipated the second referendum would occur in November 2022. If the voters approve the referendum then the Commonwealth may issue one license permitting operation of a casino in Richmond.