From Richmond Times-Dispatch: Urban One, owner of four radio stations targeting predominantly Black audiences in Richmond, announced Tuesday that it is partnering with Peninsula Pacific Entertainment, the owner of Colonial Downs Group and a growing chain of gaming emporiums in Virginia, to propose a $517 million casino resort and live music theater in South Richmond on property now owned by Philip Morris USA.
The Urban One partnership with Peninsula Pacific Entertainment would take Colonial Downs out of the running for a potential license to build and operate a casino in Richmond. The city also expects to receive an application from the Pamunkey Indian Tribe for a $350 million South Richmond casino resort it proposed 13 months ago.
Urban One CEO Alfred Liggins confirmed that the company would be the majority investor in the project, following the path blazed by the late Don Barden, the first Black majority owner of a casino in the United States.
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Urban One Submits A Proposal To Open First Black-Owned Casino in U.S. was originally published on ipowerrichmond.com