Thursday, November 30, 2023 |
Partly Cloudy

Silver Spring’s Urban One cashing out of stake in MGM National Harbor, raising $146M to shore up balance sheet

March 17, 2023

Silver Spring media company Urban One Inc. (NASDAQ: UONE) is cashing out of its longstanding investment in MGM National Harbor to the tune of nearly $146 million. On March 8, Urban One issued a “put notice” that requires MGM National Harbor LLC to repurchase Urban One’s share in the casino for cash within 30 days, according to a document filed with the Securities and Exchange Commission.

Article Source: Washington Business Journal

The Morning Rundown

We’re staying up to the minute on the issues shaping the future. Join us on the newsletter of choice for Maryland politicos and business leaders. It’s always free to join and never a hassle to leave. See you on the inside.