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Radio One obtains approval to invest $40 million in MGM National Harbor resort and casino

(December 20, 2016) Radio One Entertainment Holdings, LLC, a wholly owned subsidiary of Radio One, Inc., received approval from the Maryland State Lottery and Gaming Control Commission to become a Principal Entity of MGM National Harbor, LLC. Radio One has contributed $40 million to become a non-voting economic partner in the complex. The resort opened on December 8th of this year and is operated by MGM Resorts International.

Once completed, MGM National Harbor will include 23-story hotel with 308 rooms, 135,000 square feet in gaming space, retail space, a spa, seven restaurants, a 3,000-seat theater with seven VIP suites, 27,000 square feet of meeting and event space, and a parking garage. A total of 4,000 employees work at this location.

In a statement Radio One, Inc. said its investment in the non-voting economic interests in MGM National Harbor, entitles it to an annual cash distribution based on net gaming revenue and further diversifies the business away from dependence on advertising revenues.

Radio One, Inc., together with its subsidiaries, is a diversified media company that primarily targets African-American and urban consumers. It is one of the nation's largest radio broadcasting companies, currently owning and/or operating 55 broadcast stations in 15 urban markets in the United States.

Through its controlling interest in Reach Media, Inc., the company also operates syndicated programming including the Tom Joyner Morning Show, the Russ Parr Morning Show, the Rickey Smiley Morning Show, Get up Morning! with Erica Campbell, the DL Hughley Show, Bishop T.D. Jakes' Empowering Moments, the Ed Lover Show, the Willie Moore Jr Show, the Nightly Spirit with Darlene McCoy and the Reverend Al Sharpton Show.

Beyond its core radio broadcasting franchise, Radio One owns Interactive One, a digital platform for Black and Latin Americans, reaching millions each month through social content, news, information, and entertainment.


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Pressure Makes Diamonds:
Becoming the Woman I
Pretended to Be

By Valerie Graves

Valerie Graves, whom Advertising Age magazine named one of the "100 Best and Brightest" in the entire ad industry, is a nationally recognized creative director of such Fortune 500 accounts as Ford, General Motors, AT&T, Burger King, General Foods and Pepsi.

Paperback: 288 pages
Publisher: OpenLens
(November 1, 2016)
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