The Navajo Nation is looking at alternative sources of funding for its new gaming empire due to concerns about a $100 million loan from JP Morgan Chase bank.

The tribe agreed to secure the loan in order to build its first casino in New Mexico. But JP Morgan Chase modified the terms of the deal in response to a threat of litigation in tribal court.

Navajo officials are now considering tapping into other tribal funds to open the casino near Gallup. They say they could use $35 million from the $56 million Land Acquisition Trust Fund for the facility.

It's possible the loan with JP Morgan Chase could still be worked out, Navajo gaming chief Bob Winter told the Associated Press.

Get the Story:
Navajos take different route to finance tribe's first casino (AP 1/15)
Land for money (The Gallup Independent 1/16)