The Eastern Band of Cherokee
Indians has a revolving credit limit of $650 million, with a balance of $494.3 million for an ongoing casino expansion, the tribe's deputy finance officer said.
The tribe is in the middle of an expansion of the Harrah's Cherokee
Casino. The project's reported cost is $650 million, the size of the credit limit.
According to the finance office, the tribe's assets totaled more than $1.2 billion, with a net worth of over $620 million.
The tribe's non-gaming debt totaled $76.9 million.
Get the Story:
What is the difference in tribal debt and casino debt?
(The Cherokee One Feather 7/19)
Related Stories:
Editorial: Report outlines benefits of
Eastern Cherokee gaming (7/11)
Eastern Cherokees in
discussions for live card dealers at casino (7/6)
Report finds big economic impact of Eastern
Cherokee casino (6/27)
Public Relations
Eastern Cherokee office discloses figures on debt owed for casino
Wednesday, July 20, 2011
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