New casino attracts investors
Posted on Sunday, November 16, 2008
WEST SILOAM SPRINGS, Okla. — The economy has some mayors in Northwest Arkansas tightening the budget straps and, perhaps, even nibbling their nails a bit behind closed doors. Meanwhile, Elaine Carr, mayor of West Siloam Springs — situated just across the Oklahoma state line from Benton County’s westernmost community, Siloam Springs — is as happy and optimistic as ever.
When Carr wakes up in the morning, one of the first things she sees in her community of 850 residents is the new 200,000-square-foot Cherokee Casino and the stream of cars pouring into its giant parking lot. But this small-town mayor was smiling long before the doors opened and the slots started spitting money on Monday.
“This is a very big deal for us — the biggest we’ve ever experienced,” Carr said, “but I’m looking across the street at some open property and thinking about the opportunities this casino just created.”
Directly across U.S. 412 from the Cherokee Casino, there’s a stretch of open land, an empty gravel parking lot, a gas station and liquor store, and a manufactured home sales lot. Just down the highway, there’s a storage rental facility, a couple of tin buildings for sale and a Mexican restaurant. That, Carr believes, is about to change significantly.
“At least two hotels have expressed interest in anticipation of the casino opening,” Carr said. “There’s also been a company interested in doing an outlet mall or a mini mall. There are two restaurants waiting on our natural gas service — and I anticipate that being online by this spring.”
Just across the Oklahoma-Arkansas state line on U.S. Highway 412, Siloam Springs leadership has been listening closely.
“I’ve heard those same things about what could be coming to West Siloam (Springs), ” said Wayne Mays, president of the Siloam Springs Chamber of Commerce. “At one point, I was hearing about a large multi-purpose arena and convention center type of facility. Most recently, I’ve even heard talk of putting a walk bridge over (U.S.) Highway 412, forming a connection from the casino to these potential projects.”
The one thing Mays and others can’t predict is what effect the struggling economy will have on the timing or likelihood of those potential projects becoming reality. Carr’s sources have convinced her West Siloam Springs will change tremendously.
“What I’m hearing is in five years we could have a little Branson, Mo., entertainment strip,” Carr said. “I believe that. You’re going to have some people in any community concerned about some of the negatives that could come with a big casino, but I believe the positives far outweigh the negatives.”
It would appear neighboring Siloam Springs stands to benefit as well, particularly if you take into account studies conducted by the Cherokee Casino suggest approximately 75 percent of its traffic arrives via the Arkansas side of U.S. Highway 412. But opinions on whether the positives outweigh the negatives depends on who you talk to.
“There’s no question Siloam Springs is in the immediate impact area,” Mays said. “This will have a huge impact on us. The casino is a magnet. Whenever something like this locates in or near your community, other businesses and opportunities tend to pop up around it.
“I’m excited about the increased traffic that will be coming through our community, stopping at our businesses — restaurants, gas stations, stores. The Chamber and Siloam Springs will not be promoting gambling itself, but it is a legal business where it is. There are positives, like the 1,000 jobs its expected to create. You want to position yourself to take advantage of those opportunities.”
While the Siloam Springs Chamber of Commerce, of which Cherokee Casino is a dues-paying member, can see positives as well as the potential issues a casino could create, 12-year Siloam Springs resident Tom Perry finds himself leaning heavily toward the negative.
“I think everything about this shouldn’t be just rahrah,” Perry said. “There should be a voice of caution out there.”
Whatever else takes place — positive or negative — will play itself out over time. Perry said he and a host of other residents will be watching nervously.
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