As is the case with many Native American nations today, the Cherokee economy is based largely on gaming. The Cherokee have a number of casinos that bring in the bulk of their revenue. They also have related industries such as smoke shops that also cater to non-Indians. The Cherokee have, however, been working on diversifying so that their economy will not be so dependent upon casinos. They have expanded into some manufacturing and have won government contracts to do things like manufacturing components for various military weapons systems.
The modern Cherokee economy, then, is based on casino revenues but has also been branching out into other areas using the money earned by the gaming industry.