North Carolina Cherokees Betting on New $110 Million Casino
RALEIGH, N.C. (AP) — The Cherokee tribe in North Carolina is betting it can boost revenue by opening a second casino, even at a time of slow growth in the gambling industry.
The casino opening Sept. 28 in Murphy will bring slots and blackjack tables an hour closer to Atlanta, a top source of visitors.
The company that operates both casinos — the only two in North Carolina — concedes the new site could cannibalize some traffic, but says it will accommodate overflow and draw gamblers on day trips from neighboring states. The tribe's gambling revenue has been rising faster than the industry as a whole, indicating room for growth.
University of North Carolina business professor James Johnson Jr. has studied Cherokee gambling operations and thinks the new casino will help the area's economy.
(Story by: Jonathan Drew, The Associated Press)