Published On: Wed, Oct 9th, 2013

Tribe and Caesars reach Management Agreement for new casino

Eastern Band of Cherokee Indians officials announced on Wednesday, Oct. 9 that they have reached an agreement with Caesars Entertainment Corporation (NASDAQ: CZR) to manage its new casino in Cherokee County. The casino will be built on tribal land just outside of the Murphy town limits on Highway 19/74.

“This agreement represents the continuation of an already successful partnership between the Eastern Band of Cherokee Indians and Caesars Entertainment Corporation,” said Principal Chief Michell Hicks. “Caesars is known for its world-class facilities and top-notch management style. We are proud to be associated with such a highly regarded partner in the world of gaming.”

 The EBCI already has a 15-year history with Caesars through its operation of the tribe’s Harrah’s Cherokee Casino Resort located in Cherokee, about an hour away from the new casino site.  The Cherokee County facility will feature 60,000 square feet of gaming space with slots and traditional table games; a 300-room full service hotel; and a variety of dining options.

“We are excited to be entering into yet another venture with the Eastern Band of Cherokee Indians,” said Gary Loveman, chairman, chief executive officer and president of Caesars Entertainment Corporation. “With our well-established business model and the tribe’s commitment to its members and surrounding communities, this should be a win-win endeavor for all parties involved.”

The new casino is expected to create an estimated 900 jobs on-site and will inject up to $39 million in payroll into the surrounding area. It will also bring hundreds of construction jobs to Cherokee County, as well as an additional 500 jobs that will be created in food preparation, food service, office and administration, building maintenance and other service sectors.

The general contractor for the project is expected to be chosen by November, and the groundbreaking for the new casino will be held on Tuesday, Oct. 15.

– EBCI Public Relations

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