|Bid||4.5800 x 800|
|Ask||4.6300 x 1200|
|Day's Range||4.5100 - 4.9000|
|52 Week Range||4.0500 - 24.1600|
|Beta (5Y Monthly)||1.20|
|PE Ratio (TTM)||14.09|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Urban One, Inc. (NASDAQ: UONEK and UONE) today reported its results for the quarter ended September 30, 2021. Net revenue was approximately $111.5 million, an increase of 21.3% from the same period in 2020. Broadcast and digital operating income1 was approximately $49.1 million, an increase of 11.2% from the same period in 2020. The Company reported operating income of approximately $34.5 million for the three months ended September 30, 2021, compared to approximately $4.0 million for the three
Shares of Urban One (NASDAQ: UONEK) had plunged by 39% as of 1:19 p.m. Wednesday as it appeared voters in Richmond, Virginia, had on Tuesday rejected the media company's proposal to develop the ONE Casino & Resort in the city. Urban One wants to build an integrated resort and casino in Richmond featuring a hotel, spa, restaurants, an event center, and a 100,000-square-foot casino, and while gaming officials had accepted the proposal earlier this year, voters had the final say on the matter. Originally, six bids were submitted for the right to Richmond's sole gaming license; officials chose Urban One's plan for an integrated resort that would feature some 2,000 slot machines, 110 table games, and a sportsbook.
Urban One Inc. CEO Alfred Liggins conceded Wednesday morning that voters in Richmond defeated a referendum that would have allowed the company to build its proposed casino in Virginia's capital city. “While extremely disappointed, our entire Urban One family, my mother and business partner Cathy Hughes, and I accept the will of city of Richmond residents," he said in a statement.