Groundbreaking at New Casino in Ramona, OK
The gaming, entertainment, hospitality, and retail entity of the Cherokee Nation, Cherokee Nation Enertainment just broke ground on its eighth and newest casino in northeastern Oklahoma in Ramona. Cherokee Nation Entertainment currently employs over 3,500 people in Oklahoma and Arkansas. They have revenues in excess of $440 million, stemming from 7 current casinos, a travel plaza, two convenience stores, six tobacco shops, four gift shops, two golf courses, and three hotels. The newest gaming operation will be implemented in two phases, creating more than 100 new jobs over the next two years. The recession made it hard for businesses to exist, but gambling is proving to be a sturdy option in the market. Not only is gambling revenue growing, but more and more people are returning to the high-end tables. Now that the recession is considered to be over, it’s opening the door for people returning to their old buying habits. Though it will take time, the good news is that people are slowly moving back into spending.
David Stewart, the CEO of Cherokee Nation Entertainment says, “Our goal is first and foremost to create good-paying, stable jobs in our Cherokee communities. We have proven that our gaming operations are an asset to the communities in which we reside. The city of Ramona recognizes this and has been a very welcoming and great partner to work with.” Expected to be over 10,000 square feet, the casino will have more than 200 electronic games, as well as food and beverage offerings. They hope to open to the public in summer 2010. That’s good news for the market. Since the recession many jobs were eliminated and it put millions of people out of work. President Obama is focusing on job creation and the federal government itself is planning on introducing 60,000 jobs to the market in the coming year. The casino will be strategically located between two major metropolitan areas in Oklahoma, Tulsa and Bartlesville. Legislators are hoping that the areas chosen for the casino will capitalize on the hefty population and offer a good number of jobs into the area. If they can create enough jobs, it may help to spur consumers into spending again. And that would be great news for the market.
