Cherokee Nation Enterprises, operator of seven Cherokee Casinos in northeast Oklahoma, accumulated profits of $111 million in 2007.
According to the CNE’s annual “Where the Casino Money Goes” report , the company’s workforce also 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. A figure that reached a record level in 2007, $34 million.
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.