Urban One has been silent on its casino aspirations since November 2023, when its referendum for a Richmond, VA, development was voted down again. Now, CEO Alfred Liggins confirms the broadcaster has officially backed away from brick-and-mortar casino development.
The decision, confirmed during the company’s Q4 2024 earnings call, comes as the company sharpens its focus on debt reduction and strategic media consolidation in a challenging industry landscape.
“It’s safe to say [the casino process is over] given that they’ve actually broken ground on the casino in Petersburg,” said Liggins, in response to an investor’s question…