North Carolina: Eastern Band Of Cherokee Indians forms new holding company

May 14, 2021 12:00 AM
  • Rege Behe, CDC Gaming Reports
May 14, 2021 12:00 AM
  • Rege Behe, CDC Gaming Reports

The North Carolina-based sovereign nation Eastern Band of Cherokee Indians Thursday announced the creation of a new holding company.

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ECBI Holdings, featuring a new management team and board, will diversify the tribe’s holdings in the commercial gaming and hospitality business. Former regional president for Caesars Entertainment R. Scott Barber will be chief executive officer, and Adele Jacobs-Madden, an enrolled member of the Eastern Band of Cherokee Indians, will be chief financial officer.

ECBI expects approval from the Indiana Gaming Control Commission to buy Caesars Southern Indiana in Elizabeth, near Louisville, Kentucky, this fall. The tribal nation agreed to purchase the casino’s operations from Caesars for $250 million in December 2020. After the purchase is approved, the 700 employees at the casino are expected to be retained.

“Caesars Southern Indiana is a beautiful facility with a well-established brand and a superb team of hundreds of local employees already in place,” Barber said in a statement. “We want to keep the same friendly, fun, familiar environment for our guests. Our intent is to build on the facility’s success and offer guests additional opportunities to play at EBCI’s Harrah’s-branded North Carolina properties while also having access to all properties throughout the Caesars Rewards network.”

Per the purchase agreement, EBCI Holdings will retain Caesars’ branding for the casino and maintain the Caesars Rewards loyalty program.

ECBI operates two tribal casinos in North Carolina: Harrah’s Cherokee Casino Resort in Cherokee, and Harrah’s Cherokee Valley River Casino & Hotel in Murphy.