Urban One, the publicly traded multimedia company that holds a 7% interest in the MGM National Harbor casino resort located in Prince George’s County, Md., is now clear to focus its future gaming efforts on getting voter approval of a Richmond facility it seeks to develop.

A “put notice” has been delivered to MGM National Harbor LLC that requires it to purchase 100% of Urban One’s interest in the property.

It represents a huge payday for Urban One, which also revealed late Friday in an unrelated matter that it is unable to file its annual financial report with the U.S. Securities and Exchange Commission by its March 16 deadline.