If Richmond, Virginia, voters approve a proposed casino in their city this fall, Silver Spring, Maryland-based Urban One will own and operate it.
It would make the casino, currently named One Casino + Resort, the first majority Black-owned casino in the country.
A Richmond city selection panel chose Urban One over several other bids, including one from Baltimore-based Cordish Cos., the owner and operator of Maryland’s Live! Casino & Hotel in Arundel Mills.
Urban One, founded in 1980, is primarily a media company operating radio and TV programing focusing on African American audiences. It is the largest Black-owned TV network and distributor of urban content in the nation.
Approval of the Richmond casino is a referendum on the November ballot.
If approved, One Casino + Resort, would be a 2.9-million-square-foot development encompassing 55 acres of green space named Glory Park. It would house a casino, a 250-room hotel named Legacy Tower, a dozen bars and restaurants and a performance venue named Rise Theater. The theater would host 200 live shows per year.
It also would include on-site radio and TV studios and a sound stage.
As part of the development, Urban One has committed $30 million to charitable contributions and initiatives in Richmond.
“We are fully committed to creating good paying jobs with profit-sharing employees, pathways to successful careers and generating significant new tax revenues that can improve Richmond’s schools and fund community programs and infrastructure,” said Urban One CEO Alfred Liggens in a statement.
One Casino + Resort would be a partnership with Peninsula Pacific Entertainment, which owns the Colonial Downs racetrack in Virginia.
Urban One has posted information about its planned Richmond casino online.