The Cherokee Nation was said to be mulling over a potential foray into the Las Vegas casino industry. However, the tribe isn’t quite ready yet, according to the chairman of its gambling authority.
The Nation Is Not Ready for Vegas
John Sparks, chair of the Cherokee Nation Gaming Commission, explained that the nation isn’t inherently opposed to the idea of tackling Las Vegas’ highly lucrative market but is not committed to any such plans yet.
As a fast-growing tribal operator, the Cherokee Nation has long been expected to show interest in Las Vegas. Sparks, however, refuted these claims at the recent National Council of Legislators from Gaming States (NCLGS). He explained that, for now, the Cherokees’ Vegas-facing ambitions are just a rumor.
The tribal entity, for context, operates eight casinos in Oklahoma. The nation acquired the Gold Strike Hotel & Casino in Mississippi two years ago and is also pursuing a casino bid in Arkansas. A Vegas property would potentially strengthen the tribe’s gaming portfolio, poising it for further growth.
Sparks refrained from providing any predictions about the tribe’s potential foray into Las Vegas.
Tribal Gaming Has a Limited Presence in Vegas
Should the Cherokee Nation decide to pursue a casino in Las Vegas, it will likely seek a beneficial acquisition deal. According to analysts, however, this could be a major setback to any Vegas-centered plans, considering that at the moment there are no Vegas Strip casinos for sale.
To make matters worse, the economic situation has made casino M&A activity incredibly costly because of the associated high interest rates. While the Federal Reserve could lower borrowing costs, it is uncertain whether this would be enough to revitalize M&A activity within the casino sector.
As of the time of this writing, the only Las Vegas property operated by a tribal entity is Palms Casino Resort, a property near the famed Strip. Mohegan Gaming recently exited the Vegas gaming sector but the Seminole Tribe’s Hard Rock brand is set to reopen the Mirage in 2027.
Mirage Hotel & Casino, for context, just closed and is now preparing for its metamorphosis into the Hard Rock Hotel & Casino and Guitar Hotel Las Vegas.