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Cherokee Nation Businesses: revenues soft, dividends preserved; Arkansas court decision pending
Summary
Chuck Garrett, CEO of Cherokee Nation Businesses, told the council that federal contracting opportunities were down, the company managed expenses to exceed budgeted bottom line, and a federal court decision in Arkansas is expected in the coming weeks.
Chuck Garrett, chief executive officer of Cherokee Nation Businesses, told the tribal council on May 12 that April financials show lower revenues in federal contracting and gaming but that the company managed operating expenses and remained on track to deliver the planned dividend to the Cherokee Nation.
“Despite declining revenues, [we were] able to exceed budget by managing aggressively the operating expenses associated with the work,” Garrett said, describing a cautious approach to anticipated contracting opportunities in the next six months.
Garrett said about 10,000 people are employed across Cherokee Nation Businesses. He briefed the council on an ongoing matter in the Eastern District of Arkansas: CNB completed oral arguments in a case raising constitutional issues such as due process and takings, and the company expects a bench decision in roughly 30 to 60 days but gave no guarantee.
On sports betting, Garrett said legislative activity this year produced no meaningful change; he characterized the outcome as the result of a lack of consensus rather than a single veto and said CNB and tribal government remain focused on protecting current compacts and sovereignty.
Garrett noted the CNB fiscal year 2024 state-of-company report is available online and summarized that, over the past decade, CNB has returned about $1.2 billion in dividends to the Cherokee Nation. He also encouraged Cherokee artists to submit work for installations at the Sallisaw Child Development Center and the new Cherokee Nation Hospital.
Garrett said CNB is sponsoring an exhibit at the Cherokee Nation History Museum honoring missing and unidentified persons; he cited 876 cases reported in January 2025 alone and said the display runs through May.
Garrett concluded his report by offering to answer questions; a council member asked whether sports betting had been vetoed by the governor, and Garrett responded that lack of consensus—not a veto by the governor—was the proximate reason no legislation moved forward.
