Associated Press - November 25, 2009 12:25 PM ET
POJOAQUE PUEBLO, N.M. (AP) - Pojoaque Pueblo Gov. George Rivera says the struggling economy means the pueblo's Buffalo Thunder Resort and Casino likely won't be able to make an upcoming $11 million bond payment.
The pueblo had worked out a deal with bond holders in June after it couldn't make that payment on the $245 million bond financing for the development. The June payment also was for about $11 million.
Rivera says the resort, which opened 15 months ago, is still recovering from last fall's economic downturn.
However, the pueblo governor also says gambling revenues and hotel bookings are up from last year, and expressed optimism those trends will continue.
Information from: The Santa Fe New Mexican, http://www.sfnewmexican.com
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