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Tribe's casino revenue up again
Cherokee Nation Enterprises says profits and employees are up.
By CLIFTON ADCOCK World Staff Writer
Published: 6/17/2009 2:21 AM
Last Modified: 6/17/2009 3:31 AM
Despite a recession and continued building projects, Cherokee Nation Enterprises' revenue increased from the previous year, according to the tribe's annual report.
Tribal casinos, and the businesses on casino property, brought in about $441.2 million between October 2007 and October 2008, according to the report.
Of that money, $131.7 million went to employee payroll, $174.6 million to operating expenses, and $18.9 million to gambling compact fees with the state; $116 million was considered profit, of which $81.2 million was reinvested into enterprises; and $34.8 million went toward services for tribal members.
The total profit was higher than 2007's $112 million but also was the lowest growth amount since 2001, when revenue increased only by $2 million. Most years since then have seen substantial increases in the tens of millions of dollars.
"The top line slowed a little," said Kelli Bruer, public relations manager for Cherokee Nation Enterprises, adding that ongoing construction during the year at the West Siloam Springs casino and the recession may have slowed the numbers some.
Cherokee Nation Enterprises also increased its workforce between 2008 and 2009, going from 3,180 employees to 3,399 employees, a substantial increase from 10 years ago when there were only 511.
Many jobs were a mix of information technology, marketing, finance and service jobs, the report states.
Tribal leadership credited the tribe's Jobs Growth Act of 2005, which requires
70 percent of the tribe's business and gambling profits be reinvested to create jobs for renewed growth.
"The best service that we can provide for our citizens is a job that allows them the opportunity to earn good wages, have benefits and become self-sufficient for themselves and their family," Principal Chief Chad Smith said.
"We don't spend all the profit as we go or give handouts. We reinvest the money to keep creating jobs here in northeastern Oklahoma."
Examples of such re- investment include the current $155 million expansion of the Cherokee Casino Resort in Catoosa and the recently completed $108 million expansion of the Cherokee Casino in West Siloam Springs, according to a news release.
Gambling money accounts for a majority of the tribe's general fund, which helps finance tribal services including health care, education, roads and housing, the news release stated.
"Gaming is a tool to create self-sufficiency for Cherokees, whether that self-sufficiency is achieved though creating jobs or employing local vendors," Smith said. "Either way, the jobs and the money stay right here in our local communities."
The "Where the Casino Money Goes" report has been printed by the tribe for several years and will be distributed to tribal members through the tribal newspaper and tribal businesses.
How it’s used
How the $34.8 million
used for services is distributed:
$5.4 million: health services
$5.2 million: education services
$4.2 million: housing and
community services
$3.7 million: Supreme Court
and legal resources
$2.5 million: human services
$2.4 million: gaming commission
$2.2 million: Chief’s office
$2.1 million: human resources
$2.1 million: career services,
commerce, financial resources
and government
resources
$1.3 million: management
resources
$1.2 million: communication
and strategy
$1 million: Tribal Council
$800,000: natural resources
$700,000: commissions and
boards
Source: Cherokee Nation’s
“Where the Casino money Goes”
Clifton Adcock 581-8462
clifton.adcock@tulsaworld.com
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Some reader comments for this page were copied from "
Cherokee Nation Enterprises revenue up despite recession," which was published on 6/16/2009.
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