On December 3, the 15, 709 members of the Eastern Band of Cherokee Indians received the largest-ever per capita distribution based on profits from the tribal-owned Harrah’s Cherokee Casinos in Cherokee and Murphy, North Carolina. With the record-setting payment of $7,007, the 2018 yearly distribution total reached $12,559 before taxes. The money represents half of the casino profits; the other half funds tribal operations.
Principal Chief Richard Sneed said the payment was “a testament to leadership and strong financial and operational management.” Harrah’s Regional Vice President of Marketing Brian Saunooke noted, “The way that translates into per capita is extremely impactful to the individual members of this tribe. However, the overall tribal distribution impacts tribal programs, which also impact the well-being of our members through tribal operations. I think the economic impact there is just phenomenal.”
The latest distribution is $1,455 higher than the June payment of $5,552. Saunooke said. He said Valley River Casino in Murphy provided 24 percent of the profits, and Cherokee posted 76 percent. “Most of the big growth we saw came from the Valley River market. I think one of the major things that contributes to that is the proximity to some of our major markets, especially Atlanta. Players are able to make more frequent visits, and that really helped us during the year,” he said.
The shorter drive in some cases also helped in terms of visitation, Saunooke added. Valley River posted 862,000 visits in fiscal 2018 compared to 851,000 visits in fiscal 2016, the first full year the casino was open.
He said recent improvements at Valley River also attracted more visitors, including an addition that houses bowling, dining options, a live performance stage and an arcade. At Cherokee, Saunooke said construction has begun on a $250 million expansion to add more than 700 hotel rooms, a parking deck and an 83,000 square foot event center, set to open in 2021.
“The goal of this business is to set realistic and continued goals for growth. The way that works out in the future is all signs are positive. Everything looks positive,” Saunooke commented.
