Casino cash helps to infuse community
Posted on Sunday, May 11, 2008
WEST SILOAM SPRINGS, Okla. - Cherokee Nation Enterprises gives $ 60, 000 annually to West Siloam Springs Police Department as part of the money the company reinvests in communities in which its casinos are located.
Mayor Elaine Carr said the money pays for police department salaries and items such as vests and radios or "whatever the police department needs."
The company also gave the town a new police vehicle some years ago when the police department was cross-deputized with the Cherokee Nation, she said.
"It's a major help," Carr said.
Cherokee Nation Enterprises, which runs Cherokee Casino in West Siloam Springs, recently released its annual report," Where the Casino Money Goes, 2008."
Total revenue for Cherokee Nation Enterprises in 2007 was $ 418. 6 million, and $ 287 million of this revenue pays for employee salaries and operating expenses.
The company's casinos raked in nearly $ 112 million in profits in 2007. Profits were less than $ 5 million nine years ago.
Nearly 70 percent of this money, or $ 78 million, is reinvested in jobs for Cherokee Indians, the report shows.
More than 2, 100 jobs were created in the past four years, and nearly 400 jobs were created in 2007.
The company employs more than 3, 200 people, and 71 percent are American Indian.
"The best service we can provide for our citizens is jobs," said Chad Smith, principal chief of the Cherokee Nation. "These are good paying, stable jobs for Cherokee citizens and the surrounding communities."
Cherokee Nation Enterprises, which is owned by the Nation, employed 86 people in 1992.
The other 30 percent of casino profits fund social services for Cherokees.
Casinos generated about $ 33. 7 million to pay for health services, housing and community services, education, and natural resources.
These services are paid out of the Nation's $ 56. 7 million general fund, in which 56 percent is casino profits.
Cherokee Casino in West Siloam Springs is being expanded to 200, 000 square feet.
Construction is expected to be completed by Dec. 1, said Shawn Slaton, senior vice president of corporate development for Cherokee Nation Enterprises.
An eight-story hotel is being built adjacent to the casino. It is planned to be completed in June 2009.
The $ 108 million project is expected to create 500 new jobs. Now, 450 people work at the casino.
The casino and hotel will have a theme that "represents a certain period in Cherokee history," Slaton said.
The theme was developed through the vision of Smith, the Cherokee Nation Cultural Committee and Thalden Boyd Architects of Tulsa, Slaton said.
The casino will include 1, 600 new electronic games and nearly 30 poker and game tables, a Las Vegas-style buffet, a fine dining steakhouse, a lounge / bar area with 175 seats and a stage. It will also include several name-brand eateries.
The names of the restaurants have yet to be chosen.
"It's going to be really nice," Slaton said.
After the new casino is built, the current casino will be torn down and rebuilt as part of the new casino.
Cherokee Nation Enterprises operates casinos in West Siloam Springs, Tulsa, Claremore, Roland, Fort Gibson, Sallisaw and Tahlequah.
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