Buffalo Thunder misses bond payment

Buffalo Thunder Resort and Casino in Pojoaque wasn't able to make a nearly $11.5 million payment this month on the $245 million bond for the resort and is working with note holders to restructure terms of the deal.

[Intercultural]

Their first casino was originally a school. Now maybe they can turn their second casino into...a school. But no drinks for the kids.

[South of I-40]

Oddly I've seen no similar story about a similar default by the Inn of the Mountain Gods resort on the Mescalero reservation. Their payment was due in May on their 200 million dollar loan, on which they've barely managed to pay the interest since incurring it. The principal is not being paid down.

[Intercultural]

South of I-40 wrote:

Oddly I've seen no similar story about a similar default by the Inn of the Mountain Gods resort on the Mescalero reservation. Their payment was due in May on their 200 million dollar loan, on which they've barely managed to pay the interest since incurring it. The principal is not being paid down.

Perhaps it's impossible to take any real action against an Indian nation, so it doesn't really matter anyway.

[Small Town]

To big to fail?

[the Mescaleros]

are Native Americans, the Pojoaques are not.

[Joseph L Moure]

Maybe Obama will bail them out!

[I wonder]

what the occupancy rate is for the hotel.

[Kid Topeka Ks]

They can close all the casinos for all I care It will do the economy and the state all kinds of good

[Peskime]

Native wrote:

They are a "Sovereign Nation" so they can do whatever they want. Pojoaque Pueblo is already taking more water rights than it owns for the casino. Why? Because they are a sovereign nation. It they get sued for the payment, it'll have to be heard in Indian court. How do you think that's going to come out? Sovereign nation is just a fancy name for Mobsters. Indians should be accountable to the same rules as everyone else.

Bitter, bitter, bitter,
You may call yourself "native" but the Pojoaque and other Pueblos are the REAL natives.

[no the]

Peskime wrote:

<quoted text>
Bitter, bitter, bitter,
You may call yourself "native" but the Pojoaque and other Pueblos are the REAL natives.

Pojoaques are not native Americans.

[Dazzle]

no the wrote:

<quoted text>
Pojoaques are not native Americans.

Please explain.

[Ms M]

Maybe this is the reason that Pojoaque Pueblo is trying to stick it to the NMDOT for the land for the Ben Lujan interchange-- they want to be paid ten times the appraised value in cash. The state can't sue them or condemn the land because they have immunity in court as a "sovereign Indian nation". Funny how these stories are interrelated. Of course the interchange should not be built, but that is another story...

[How it works]

STEP 1
Northern New Mexicans work for 20 plus years at government jobs.
STEP 2
They "retire" in their 40's
STEP 3
Said New Mexicans take second government job for next twenty years. Collect pension and bennies.
STEP 4
The Bingo Warriors set up casinos with all the full ersatz affectation of earth worshiping animism and spirituality.
STEP 5
Greedy Wall Street partners do the dollar business side for said Natives. Take "wealth" to Wall Street.
STEP 6
New Mexico's proud community of cultural anti-intellectualism (50% HS drop out rate)(see "retired" state workers above)flock to these mind numbing hell holes for absolutely inane "entertainment" and debauchery. One quarter in a slot at a time.
STEP 7
The House always wins.
STEP 8
In case I wasn't clear in Step 7 - I'll say it again. THE HOUSE ALWAYS WINS!
STEP 9
Your tax dollars under the guise of "economic development" are funneled through this whole ugly process and out of the nation through Wall Street to investments in China. Bye Bye prosperity. Bye bye soverign nation. Nice and neat scheme, Huh?

[smokey]

I am not surprised. I think every hotel built at the peak is screwedd. See W in San Diego and the Regis.

[smokey]

We did not call it Buffalo Blunder for nothing.

[Nancy R in KC]

smokey wrote:

We did not call it Buffalo Blunder for nothing.

Good one! As for me, my first thought was that I would not want to be standing behind that buffalo.

[NambePeace]

South of I-40 wrote:

Oddly I've seen no similar story about a similar default by the Inn of the Mountain Gods resort on the Mescalero reservation. Their payment was due in May on their 200 million dollar loan, on which they've barely managed to pay the interest since incurring it. The principal is not being paid down.

Small blurb in the local section a couple weeks ago about Inn missing their payment too. I think it was in the same 4 sentences that outlined the Diaz indictment. Wonder why the Pojoaque "visionaries" chose to buy a multi-million dollar ranch instead of making good on their bills?

[no the]

Dazzle wrote:

<quoted text>
Please explain.

In 1924, 5 Mexican families took advantage of a Federal decision and robbed what is now the Pojoaque "pueblo" from the existing settlers, because they wanted the water.

Now what do these "natives" do with the water?

They pisss it over golf courses and fountains and continue to keep it from their neighbors.

[Toucan Tango]

Crud ... I hope they stay open ... they have the best buffet around.

[Nancy R in KC]

NambePeace wrote:

<quoted text>
Small blurb in the local section a couple weeks ago about Inn missing their payment too. I think it was in the same 4 sentences that outlined the Diaz indictment. Wonder why the Pojoaque "visionaries" chose to buy a multi-million dollar ranch instead of making good on their bills?

These places always look to me like their owners have bitten off more than they can chew.