The Eastern Band of Cherokee Indians reached a new Class III gaming compact with North Carolina Gov. Beverly Perdue (D).
The tribe will be able to add live dealers to the Harrah's Cherokee Casino. In exchange, the state will get a cut of revenues from those games over the next 30 years. The deal will result in the creation of 400 jobs at the casino. And revenues will be used to fund public schools across the state. “Today represents the culmination of months of hard work by the Governor’s office and the Eastern Band of Cherokee Indians,” Principal Chief Michell Hicks said in a press release. “This agreement will provide substantial economic benefit to tribal members and throughout western North Carolina. This agreement further demonstrates the Cherokees’ commitment to educating our young people through the education funding initiative. We value our partnership with the state and are grateful to the Governor for her help and to the leadership in the General Assembly for their continued support.” According to the press release, the tribe will get exclusive rights to table games west of Interstate 26. The revenue sharing will occur as follows:• 4 percent of gross receipts from live table gaming during the first five years;Get the Story:
• 5 percent the next five years;
• 6 percent the next five years;
• 7 percent the next five years; and
• 8 percent during the next ten years.