North America;United States of America
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Some Native American tribes have gone into business with the U.S. government as federal contractors, while others are branching into retail, construction, trucking, and even cannabis, all on the heels of Covid-related casino closures which had devastating effects on community's income.
Many tribal nations are looking to diversify from depending on casinos and gambling to ensure the financial future of their people. Most U.S. states have strict laws against gambling, or tight regulation on where it can take place. These laws don't apply to lands governed by Native Americans, who have for decades profited from their exemptions.
The COVID-19 pandemic hit the Native American community much harder than the rest of the U.S., in both health and finances. Native Americans suffered from the highest covid-related death rate among any racial group in the U.S., according to a Princeton University study. Their tribal businesses also suffered, with months or years of casino closures and a slow return to the crowds they were used to.
Now, many tribes are doing business with Uncle Sam, a new report from the Center for Indian Country Development at the Federal Reserve Bank of Minneapolis found, with a large percentage working with the Department of Defense. Some tribes are entering into the cyber-security consulting business, with others engaged in drone development and other tech.
But, there's still money in gambling, according to the National Indian Gaming Association, which reported a record $39 billion in gross gambling revenue in 2021.
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Copyright © 2023 CGTN. 京ICP备16065310号
Disinformation report hotline: 010-85061466