On September 28, 2015, the much anticipated and long awaited Harrah’s Cherokee Valley River Casino & Hotel opened for business.
Located in the southwest corner of the state just minutes from downtown Murphy, North Carolina, the casino provides a second, closer gaming alternative to markets such as Knoxville, Chattanooga, and downtown Atlanta, all of which are within approximately two hour’s drive from the facility. Set on 92 acres of land high on a hill, the facility enjoys excellent 360 degree views of the Nantahala National Forest.
In 2012, the Eastern Band of the Cherokee Nation retained The Innovation Group to conduct a market analysis for a potential new casino development in western North Carolina. In our market assessment of the proposed casino, we assessed hotel, casino, and amenity demand using our internal gravity model, as well as primary market research in the form of a quantitative survey of the local market and current Harrah’s Cherokee Casino Resort patrons. Our modeling included the impact of the proliferation of sweepstakes games throughout the region. Their development team then took over, beginning in 2013 with the design, grading, and foundation work, followed by construction on the casino and the hotel beginning in 2014. After nearly eight months of operations, the casino is performing beautifully, with revenues expected to be within 3% of The Innovation Group’s projections.
We are proud to celebrate the opening of the Harrah’s Cherokee Valley River Casino & Hotel with the Eastern Band of the Cherokee Nation and we look forward to hearing of their continued success.
For more information about this project or how we can assist with your future casino or hospitality development, please contact Erika Meeske at emeeske@theinnovationgroup.com.
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