Cherokee Nation Enterprises Profit Top $110 Million

Cherokee Nation Enterprises, which operates seven Cherokee Casinos in northeast Oklahoma, has announced profits of $111 million for 2007.
According to the CNE’s annual “Where the Casino Money Goes” report , the company’s workforce has ballooned to 3,200, paying out wages, taxes and benefits of $119.4 million last year. The numbers make CNE one of the largest employers in northeast Oklahoma.
According to the report, about 70 percent of Cherokee Casinos’ profits are reinvested into job creation, while the remaining 30 percent is paid directly to the Cherokee Nation to fund social services.
That figure also reached a record level in 2007, $34 million. That’s more than $8 million over the previous year to fund services such as health care, education, roads, community services and much more.
CNE is currently expanding its Tulsa and West Siloam Springs casinos. Cherokee Casino Resort, Tulsa, is undergoing a $125 million expansion and is set to be complete in early 2009.
It will feature a 20-story hotel tower with 200 rooms; an approximately 1,800-seat entertainment and convention venue; more gaming space to house 750 new electronic games; a Toby Keith’s I Love This Bar & Grill restaurant; expanded Wild Potato Buffet and McGill’s restaurants; an upscale nightclub; and additional meeting space.
Later this year, Cherokee Casino West Siloam Springs will open after its $108 million dollar expansion. That property will include an 8-story, 140-room hotel; 200,000 square feet of gaming space to house more than 1,600 new electronic games and nearly 30 poker and table games; an expanded nightclub and stage; and several dining options including a fine dining restaurant, a Las Vegas-style buffet and brand-name eateries.
These projects will create more than 1,000 jobs.



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