News in brief

Cherokee unit buys Tunica hotel, casino

Cherokee Nation Entertainment Gaming Holdings LLC has purchased the operations of the Gold Strike casino-hotel in Tunica in a $450 million cash deal.

The Gold Strike property includes a 32-story hotel with more than 1,100 rooms, including 125 suites, according to a Thursday release. The 50,000 square foot casino area features a sportsbook, high-limit gaming area, a conference and convention center and dining options.

Cherokee Nation Entertainment Gaming Holdings LLC, will establish a long-term lease agreement with VICI Properties Inc., the Gold Strike property owner, according to a release.

“We are looking forward to expanding our gaming and hospitality businesses as we execute on our strategic plan to grow our footprint outside of the Cherokee Nation Reservation,” said Chuck Garrett, chief executive officer of Cherokee Nation Businesses.

Cherokee Nation Entertainment Gaming Holdings LLC is a subsidiary of Cherokee Nation Businesses. The deal is subject to regulatory approvals.

— John Magsam

Shortage of peppers slows Sriracha flow

IRWINDALE, Calif. — Sriracha hot sauce could be hard to find on store shelves this summer.

Southern California-based Huy Fong Inc., told customers in an email earlier this year that it would suspend sales of its spicy condiment over the summer because of a shortage of chili peppers.

The company said in its April 19 email that all orders submitted after that date would be fulfilled after Labor Day.

“Unfortunately, this is out of our control and without this essential ingredient we are unable to produce any of our products,” the company said.

The company sources peppers from farms in California, New Mexico and Mexico, and said that weather conditions are affecting the quality of the peppers and deepening the chili pepper shortage. It didn’t immediately respond to an email seeking comment.

Historic drought across the US West is taking a toll on California’s agriculture. The US Drought Monitor reported that the whole state was in “severe drought” as of last week, with the Central Valley facing “extreme drought” conditions.

— The Associated Press

State index drops 15 to finish at 784.58

The Arkansas Index, a price-weighted index that tracks the largest public company based in the state, closed Thursday at 784.58, down 15.00.

“Equities sold off in the afternoon trading as the European Central Bank announced an end to asset purchases along with an interest rate hike over the next month which stoked investor fears ahead of monthly US CPI data due [this] ,” said Leon Lants morning, managing director at Stephens Inc.

The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.

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