ITEM 8.01. Other Events

On January 24, 2022, the Council for City of Richmond, Virginia (the "City") adopted a new resolution in efforts to bring the ONE Casino + Resort to the City. In a press release dated January 24, 2022, the City announced that it considered the ONE Casino + Resort project to be part of the economic engine the City of Richmond needs. The new resolution is the first step in pursuit of a second referendum. Upon obtaining precertification for RVA Entertainment Holdings, LLC, Urban One's wholly owned subsidiary, by the Virginia Lottery Board, the City will then pursue an order from the Circuit Court for the City of Richmond ordering a second referendum. If the City is successful in obtaining the precertification and the court order, the second referendum would be scheduled and it is currently anticipated the second referendum would occur in November 2022. If the voters approve the referendum then the Commonwealth may issue one license permitting operation of a casino in Richmond.

The City's press release is attached hereto as Exhibit 99.1.

ITEM 9.01. Financial Statements and Exhibits.



(c) Exhibits

Exhibit Number    Description

                    City of Richmond Press release dated January 24, 2022:
                  Relief, Investment and Opportunity Creation in the City of
99.1              Richmond:
                  The One Casino Project Could Prove to be the Economic Engine
                  Richmond Needs
                  Cover Page Interactive Data File (embedded within the Inline
104               XBRL document).

Cautionary Information Regarding Forward-Looking Statements

This Form 8-K and the press release attached as Exhibit 99.1 contain forward-looking statements about the Company's future performance, which are based on management's assumptions and beliefs in light of the information currently available to it. The Company assumes no obligation to update the information contained herein. These forward-looking statements involve known and unknown risks, uncertainties and other factors, some of which are beyond the Company's control, that may cause the actual results to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Important factors that could cause actual results to differ materially are described in the Company's reports on Forms 10-K, 10-Q, 10-Q/A and other filings with the SEC.

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