On June 13, 2023, Churchill Downs' 50/50 Partnership With Urban One, RVA Entertainment Holdings Entered Into Resort Casino Host Community Agreement With City Of Richmond, VA To Be City's Preferred Casino Gaming Operator Of Entertainment And Gaming Venue
Portfolio Pulse from Charles Gross
Churchill Downs and Urban One, through their 50/50 partnership RVA Entertainment Holdings, have entered into a Resort Casino Host Community Agreement with the City of Richmond, VA. This agreement makes them the city's preferred casino gaming operator for the entertainment and gaming venue.
June 14, 2023 | 10:21 am
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POSITIVE IMPACT
Churchill Downs' 50/50 partnership with Urban One secures preferred casino gaming operator status in Richmond, VA, potentially boosting revenues.
The partnership with Urban One and the agreement with the City of Richmond positions Churchill Downs as a preferred casino gaming operator, which could lead to increased revenues and growth in the gaming sector. This news is likely to have a positive short-term impact on CHDN's stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Urban One's 50/50 partnership with Churchill Downs secures preferred casino gaming operator status in Richmond, VA, potentially boosting revenues.
The partnership with Churchill Downs and the agreement with the City of Richmond positions Urban One as a preferred casino gaming operator, which could lead to increased revenues and growth in the gaming sector. This news is likely to have a positive short-term impact on UONE's stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50