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Traded on the Nasdaq under the ticker UONEK, the price went from $3.56 on May 19, to $4.60 the day after Richmond announced ONE Casino + Resort as its development winner. The stock has since made further gains, today trading around $5.\u00a0<\/span><\/p>\n<\/div>\nIf the casino is authorized, Urban One says it will sell up to $200 million in stock with voting rights. The stock will go to some 50 individuals who have expressed interest in becoming a considerable investor in the project.\u00a0<\/span><\/p>\nFollowing a successful ballot referendum, Urban One would pay the city a one-time upfront payment of $25 million for the casino license. Urban CEO Alfred Liggins III told the city this week that the company will tack on an additional $1 million if it approves the delayed schedule.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"The developer of the proposed Richmond casino told the city this week that it will need additional time to open the $563 million resort. Urban One Inc. and its fully owned operating subsidiary, RVA Entertainment Holdings LLC, informed the Richmond City Council’s Organizational Development Committee that its initial December 2023 opening target is unrealistic. The […]<\/p>\n","protected":false},"author":25,"featured_media":179192,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,13592],"tags":[],"acf":[],"yoast_head":"\n
Richmond Casino Developer Needs More Time, Projects October 2024<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n