Three decades after Cherokee Nation struggled to pay its employees, tribal leaders are celebrating their thriving economy thanks to 35 years of gaming and hospitality.
What started as a small bingo hall in Roland back in 1990 has now become an “indispensable part of the economy” for the region, Cherokee Nation Principal Chief Chuck Hoskin Jr. said at a luncheon at Hard Rock Hotel & Casino Tulsa Monday.
“We know over the course of 35 years gaming has become a shrinking part of our growing business portfolio, but we remember how it all got started,” Hoskin said. “We remember the really bold leadership of the folks that were here in 1990 who made decisions that they surely hoped would lead to great prosperity in terms of jobs and revenue and impact across the region — and it really has.”
Mark Fulton, the longtime president of Cherokee Nation Entertainment, called gaming the catalyst for economic success in the nation.
“Gaming was not implemented within the reservation to be the end-all answer,” Fulton said. “It was the catalyst for economic growth and prosperity to help sustain the sovereignty of the nation, but also self-sustainability.”
Whether it’s Cherokee Federal or Cherokee Investment Management, Cherokee Nation Businesses CEO Chuck Garrett said the nation’s success in the gaming industry has led to the expansion of their portfolio.
“That diversified portfolio will enable us to provide a sustained, durable cash flow in the form of a dividend to the Cherokee Nation for generations to come,” Garrett, who has served in his role since 2013, said. “That’s the type of commitment and opportunities that this business has allowed us to pursue.”
Donning a “Cherokee Nation Bingo Outpost” jacket, former Cherokee Nation Principal Chief Bill John Baker said he remembers when the tribe struggled to make payroll in 1995.
“We went to our businesses and they counted the beans. They did everything they possibly could to barely make payroll,” Baker, now executive chairman of CNB, said. “But then, God was good and things looked up a little bit.”
CNE and CNB delivered an $85 million dividend last year, Hoskin said. Over the next 35 years, he anticipates the nation’s business portfolio will expand even further.
“I think in 35 years from now, we will continue to lead in gaming and entertainment but will also continue to be leaders across all sorts of business sectors, all to the benefit of the Cherokee people and the communities of northeast Oklahoma,” Hoskin said. “I think the best is yet to come.”
Something many Oklahomans have eyed over the last several years is the legalization of sports betting. The state’s model tribal gaming compact has been the subject of tension between state and tribal leaders since Gov. Kevin Stitt sought to renegotiate it upon taking office in 2019.
Hoskin said there will be “ongoing discussions” about the legalization of sports betting, noting that tribes in Oklahoma have exclusivity when it comes to sportsbooks.
“So obviously, we have to be at the table, but we’re at the table with other tribes,” Hoskin said. “I think any time we add an element of gaming and entertainment to what we do, we do it well. We create jobs, we create prosperity, we help folks in northeast Oklahoma. So, we’ll see what happens.”
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