Another tribal casino is headed for a default, with Pojoaque Pueblo in New Mexico about to miss an $11 million bond payment. Gov. George Rivera said the tribe is struggling to recover from the economic downturn. "We are able to keep people employed and keep the doors open, but as far as the big profit expected for investors, that part won't be seen on the scale that was expected," he told The Santa Fe New Mexican. The tribe issued $245 million in bonds to finance the Buffalo Thunder Resort and Casino, the largest Indian gaming facility in the state. Rivera said revenues and hotel bookings have increased as the tribe works to streamline operations. Net win at the casino was about $12 million, compared to $11.7 million in the third quarter of 2008. That's up from $6 million in the first quarter of 2008, the paper reported. Get the Story:
Buffalo Thunder won't make another bond payment (The Santa Fe New Mexican 11/25)