Pojoaque gov.: Resort struggles despite rise in gambling revenue, hotel bookings.

Buffalo Thunder Resort and Casino is likely to miss making an upcoming $11 million bond payment because of the lingering effects of the economic downturn, Pojoaque Pueblo Gov. George Rivera told The New Mexican.

"We're still at a point where we're not able to make the payment," Rivera told the paper. "We're basically still recovering from last fall's 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."

Last June, the pueblo had to work out an arrangement with bond holders because it couldn't make that payment, also for about $11 million, on the overall $245 million bond financing for the posh resort north of Santa Fe, The New Mexican said.

Meanwhile, Rivera told the paper that gambling revenues and the number of hotel bookings have actually gone up from last year and that he's optimistic those trends will continue.