Eastern Cherokee office discloses figures on debt owed for casino

Wednesday, July 20, 2011  

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.

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