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Cherokee Nation Businesses reports lower March revenue but favorable EBITDA; workforce nearly 68% Native
Summary
At the April 24 Cherokee Nation Executive and Finance Committee meeting, Cherokee Nation Businesses reported March revenue below plan but expense reductions produced EBITDA better than budget; the company said nearly 68% of its applicable workforce is Native.
At an April 24 meeting of the Cherokee Nation Executive and Finance Committee, Molly Jarvis, a representative of Cherokee Nation Businesses, said March revenue was lower than anticipated but expense savings produced a consolidated EBITDA that was favorable to budget.
"So March was a strong month for CMB, and the company is focused on results," Jarvis said, summarizing the month’s performance.
Jarvis told committee members that gaming net income and EBITDA were roughly consistent with budget for March despite a softening market, and that Cherokee Federal also finished the month with EBITDA ahead of budget. She provided workforce figures showing a total Cherokee Nation Businesses workforce of 9,510. Of positions eligible for Cherokee and native preference (3,763 positions), Cherokee citizen employment was 61.3%, with an additional 6.6% from other tribes, yielding total native employment of 67.9% for that subset of roles.
Jarvis reported several operational items affecting properties: Highway 62 bridge construction is causing business disruption at the Tahlequah and Fort Gibson casino properties and is expected to be complete this summer. Construction has started on interchange improvements in Catoosa with an estimated completion in summer 2026. She also said the spring thoroughbred meet at WRD runs through May 14.
On tourism and cultural sites, Jarvis said the Will Rogers Birthplace Ranch is closed for renovations and the project is expected to finish in the fall. The 50th annual Trail of Tears Art Show is running through early May at Cherokee Springs Plaza and features works by seven Cherokee national treasures. She also noted a Watercress Fest scheduled for Saturday at the Saline Courthouse Museum, weather permitting.
Committee members asked whether there were updates on Pope County; Jarvis said there were none to report and that the Nation would share information when it becomes available.
Jarvis offered to answer additional follow-up questions, and committee members moved on to other agenda items.
