Urban One’s Bet On A Richmond Casino Goes To Voters On Tuesday.

Link: http://www.insideradio.com/free/urban-one-s-bet-on-a-richmond-casino-goes-to-voters-on-tuesday/article_62d89d06-3887-11ec-ba96-f3462dd41a1d.html 

Urban One’s proposal to build a Richmond, VA casino faces a key hurdle next week when residents in the city will cast their votes on whether to allow the 100-acre complex to be approved. The One Casino and Resort would cost an estimated $562.5 million to build with the sprawling complex becoming home to a casino, a 150-room hotel and a dozen bars and restaurants. The developers expect to hire about 1,300 employees and bring 3.7 million tourists into Richmond each year.

“We’ve polled four times this year and it shows the majority of Richmonders are supportive of casino gaming and entertainment complexes and the benefits it brings,” said Urban One CEO Alfred Liggins. “That’s encouraging, and oddly enough, the polling has been frighteningly consistent,” he told Richmond BizSense.

Despite those poll numbers, it is not a sure bet that that the Nov. 2 referendum will be approved. With Virginia’s hotly contested gubernatorial race expected to bring out a large number of voters, there is an added sense of uncertainty.

A survey released earlier this month by a group against the casino called Richmond For All found 45% opposed the plan, 30% backed its construction, and 25% were undecided. Sen. Tim Kaine (D-VA) voted early and his office said he was among those against the plan. “He believes there are better ways to enhance economic development in Richmond,” his reps said.

Liggins said if his company’s efforts to convince voters come up short, it does not mean the project will be dead. Instead, he expects the city and state would likely look for an alternative site.

“I do not believe that the General Assembly and the governor will want to leave Central Virginia without a gaming opportunity,” said Liggins. “The state has decided this is good for the state from a revenue generation standpoint.”

Urban One and partner in the One Casino and Resort, Peninsula Pacific Entertainment, estimate the casino will generate as much as $170 million in tax revenue in its first five years.

If voters approve the plan, Liggins told Richmond BizSense, they will submit an application for a gaming license to the state by Dec. 15 and they will close a deal to buy the land in the city’s gritty Southside neighborhood from Phillip Morris by year-end. If all goes as planned, Liggins said they expect to be begin preparing the site in the spring with construction set to begin by next July. The casino is slated to open in 2024.

Liggins has said he expects Urban One will be responsible for about $100 million of the investment and will own 85-90% of the entity when the project is completed. When asked how the money would be raised, he said they expect it will be through the public debt markets – a financing avenue he noted other casino projects have taken. “We’re working with Credit Suisse and Bank of America, who’ve provided us financing commitments to go out and raise that debt,” he said.

Using Radio To Sell Casino To Voters

One pitch to potential voters is the One Casino and Resort would become the only Black-owned casino in America. The Silver Spring-Maryland based company owns five radio stations in Richmond, including adult R&B “105.7 Kiss FM” WKJS, the “ESPN Richmond” simulcast of WXGI (950) and WTPS (1240), hip-hop/R&B “iPower 92-104.1” WCDX, and gospel “Praise 104.7” WPZZ.

Urban One has been using the reach of its radio stations to promote the project. That includes running ads on its radio stations. It also created a 47-minute video featuring Liggins and Urban One founder Cathy Hughes and posted on station websites that addresses many of the questions and concerns they have been raised during the campaign.

“The idea that there’s organized crime in the casino business is a remnant of a 1950s bygone area,” said Liggins, addressing concerns about crime. “It’s the most regulated business in the entire country,” he said.

Liggins also noted that Urban One has a deal with Richmond to give 10% of the casino’s revenue to the city in addition to any property, sales and hotel use taxes that are due. It is why he says the project will pay $50 million per year to Richmond that won’t need to be shared with the county or state. “This is a new pot of money,” said Liggins. He also committed to meeting minority hiring goals set by the city.

Urban One is already in the casino business. It owns a seven percent stake in MGM National Harbor in Prince George’s County, MD.

Link: http://www.insideradio.com/free/urban-one-s-bet-on-a-richmond-casino-goes-to-voters-on-tuesday/article_62d89d06-3887-11ec-ba96-f3462dd41a1d.html 

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U.S.A House Majority Whip James E. Clyburn on the passing of Former United States Secretary of State and Joints Chief of Staff General Colin Powell

FOR IMMEDIATE RELEASE: October 18, 2021

CONTACT: Hope Derrick, Hope.Derrick@Mail.House.Gov, 202-226-3210

Bernadine Stallings, Bernadine.Stallings@Mail.House.Gov

MAJORITY WHIP CLYBURN STATEMENT ON PASSING OF FORMER SECRETARY OF STATE COLIN POWELL

WASHINGTON, D.C. – U.S. House Majority Whip James E. Clyburn issued the following statement today in reaction to the passing of Secretary Colin Powell:

“The nation has loss a consummate soldier, a committed public servant and a real patriot. Colin Powell’s storied career was one of clearing hurdles and smashing through glass ceilings. Becoming the first African American Chairman of the Joint Chiefs of Staff at such a young age is a testament to what unbiased actions can wrought.

“I admired Colin and shared his love and respect for historically black colleges and universities (HBCUs) and considered it one of the highlights of my career to have introduced him when he delivered the commencement address at my alma mater, South Carolina State University, several years ago. He spoke then, as he often did, about the significant role that little HBCUs have historically played in producing general officers for the country’s armed service.

“I am proud to have known Colin and extend my sincere condolences to his wife, Alma; daughters Linda and Anne; and his son, Michael with whom my family has enjoyed a close professional relationship. He will forever be remembered in the annals of American history.”

 

Power – And Influence – Of Urban Radio On Display At NABOB Conference.

• Oct 18, 2021 
 

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As advertising and agency heavyweights convened for the National Association of Black Owned Broadcasters’ Power of Urban Radio conference last week, broadcasters at minority and family-owned companies made the case that just because they’re smaller companies, doesn’t mean they don’t have the ability to influence their local communities.

“Allow us to be creative in reaching our communities in ways that may not be the rollout that you've thought would work across the entire country,” said Geniece Granville, VP/Market Manager for Davis Broadcasting’s Columbus, GA cluster. “It’s hard sometimes to get into those conversations but just give us a little bit of your time. And I think they will be really pleased with some of the creative ideas that we can drive to get impact for their brands and really drive revenue in our local area.”

Given the chance, smaller local operators can surpass the expectations advertisers have for larger groups, the panelists on “The Next Generation of Black Owned Broadcasters” – all members of NABOB’s Futures Committee – seemed to agree. “We know our markets better than anyone else” said Shay Moore, morning co-host at Carter Broadcast Group hip-hop/R&B “Hot 103 Jamz” KPRS (103.3) Kansas City. “We live, we work, we shop, we have families here.”

Velvet Perry, VP/GM of Perry Broadcasting in Augusta, GA, said broadcasters that live in the market they serve enjoy a unique bond with their listeners. “We are community radio, not corporate radio, and there's a big difference,” Perry said. “We are truly engaged daily with our community and they know it.”

It’s A Family Affair

In many cases these stations are family-owned businesses that strive to build a familial work environment for their employees while placing a premium on mentorship. “We see you not only as an employee, but also as a part of our work family,” said Greg Davis Jr., VP/Market Manager for Davis Broadcasting’s Atlanta stations. “We have a very family-oriented company, whether it's our fathers or mothers who are in the company working,” Davis elaborated. “They see everyone here as extended family. And that's a benefit of working with an independent Black-owned broadcaster.”

When you’re a member of the family that owns a broadcast company, the lines between work and personal lives can get a little blurry. For the Davis family, “there are moments where you're sitting at the table, and you're talking about life in general,” said Davis. “And then of course, business falls into play into that. So you never really completely get away from it, you know, because it's just part of your life.” But talking shop during holiday get-togethers is off limits, added Granville. “Okay, Dad, we're gonna talk about something else,” she has to remind her father, Greg Davis Sr., President/CEO of the company. “And he'll say, okay. He's good about Thanksgiving and Christmas.”

Being a second or third generation broadcaster also comes with a fair amount of pressure to maintain and grow the company’s legacy. “You feel pressure, not only just having a seat at the table, but to make sure that you uphold the same legacy that your father has held in the community,” said Alexis Snipe-Campbell, General Manager of Glory Communications. “Because the expectation is that you'll take the bar even higher.”

Like broadcasters of all sizes and ethnicities, Black-owned companies are grappling with how to attract younger listeners to keep their brands relevant in the future. “We've got to bring up this younger generation to appreciate and understand the power of radio,” Granville says. “We've got to be very intentional about it or we're going to end up dating ourselves out. And that's a concern.” And just because personalities and brands have existed and thrived in their markets for years, doesn’t mean there aren’t new generations coming up that aren’t even aware they exist. “We can't assume since we've been here that you all know us,” Granville pointed out. “We have to invite new people in.”

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Happy 42nd Anniversary to Radio One

 

Happy Anniversary, Radio One!

This week, we celebrate the 42nd anniversary of Radio One and honor founder and chairperson, Cathy Hughes, whose vision started with one station - WOL-AM in Washington DC - and has now grown into a network of over 50 radio stations, TV One, Reach Media, and iOne Digital, serving the African American community nationwide. In partnership with CEO, Alfred Liggins, they have built the nation's largest diversified media company.