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Radio One Approved for Entertainment Complex

, Inc. Finalized $40 Million MGM National Harbor Investment

Radio One

Radio One, Inc. announces the completion of its $40 million investment in MGM National Harbor, LLC. On November 17, 2016, , 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.

Following this approval, on November 30th, Radio One Entertainment Holdings, LLC contributed $35 million to MGM National Harbor, LLC, bringing its total investment to $40 million, as planned. The $1.4 billion MGM National Harbor property successfully opened to the public on December 8th.

Radio One, Inc. CEO Alfred Liggins said, “I congratulate Jim Murren, Bill Hornbuckle, Lorenzo Creighton and the whole MGM team on an outstanding job. MGM National Harbor is a world class facility that brings the very best in luxury, glamour and entertainment to our nation’s capital. We could not be happier about, or more proud of, how the project has turned out.” The investment by Radio One, Inc. 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.


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1 COMMENT

  1. This is wonderful! I interviewed Cathy Liggins 45 years ago, in 1972, while writing my Master’s Thesis,”Black Radio: It’s Origin, Development and Changing Trends” at Cornell University (Google it). I was telling her story while she served as program manager for WHUR-FM. Good to see another Waterloo, IA connection with this very smart entrepreneur who leads, cares and shares her talent and skill in lifting the community. And she hasn’t aged one bit! Congratulations, Cathy!

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