Gaming continues to be good business for the
Cherokee Nation and the state of Oklahoma.
The tribe shared a little over $19 million in revenues with the state last year, The Cherokee Phoenix reported. That was a record amount.
“We paid just a little over $19 million surpassing last year I think by about $800,000.”
Jamie Hummingbird, the director of the tribe's gaming commission, said at a
recent meeting with tribal council members, The Phoenix reported.
Tribes are required to share revenues with the state as part of their Class III gaming compacts. For the first $10 million in revenue, they pay 4 percent, and for the next $10 million, the payment is 5 percent.
For revenues greater than $20 million, the payment is 6 percent. Tribes also pay 10 percent of the monthly net win from table games.
According to the
Oklahoma Gaming Compliance Unit's latest report, the Cherokee Nation paid more than $15.5 million in fiscal year 2017, up from nearly $15.3 million in the year prior.
Overall, tribes paid more than $133.9 million to the state in fiscal year 201, an increase of 1.44 percent from the prior year, according to the report. Since 2004, when
voters approved
Class III gaming, tribes have shared more than $1.25 billion.
In related Cherokee Nation news, the tribe shared $5.4 million with schools in northeastern Oklahoma. The money comes from the sale of car tags to Cherokee citizens.
“The Cherokee Nation, by providing these annual funds, has once again proven to be an invaluable partner to public education in northeast Oklahoma,” Principal Chief Bill John Baker said in a
press release. “Year after year, the dollars from the tribe’s car tag compact serve as a lifeline to local school districts that are struggling financially to meet the educational needs of our youth.”
Read More on the Story:
CN pays state $19M in gaming fees
(The Cherokee Phoenix March 2, 2018)
Cherokee Nation Gives Districts $5.4M on Public Education Appreciation Day
(Public Radio Tulsa March 2, 2018)
Cherokee tribe sends $5.4 million to northeast Oklahoma schools
(The Oklahoman March 3, 2018)
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