Even though two new casinos came online in the past year, New Mexico casino net wins dropped by almost $2.5 million in the first quarter of 2009 compared to the same time period last year, records show.
The net win is the amount gambled on machines minus the amount paid in cash and noncash prizes as well as fees.
For the first quarter 2009, the total net win was $173,364,770. In the 2008 first quarter it was $175,791,147, according to the New Mexico Gaming Control Board.
Between the first quarters of 2008 and 2009, both Pojoaque Pueblo and the Navajo Nation opened new casinos, Pojoaque last August with Buffalo Thunder and the Navajos in November with the Fire Rock Casino.
Unlike other casinos in the state, Pojoaque nearly doubled its net win, up from $6.3 million in the first quarter of 2008 to just more than $12 million this year.
That doesn't mean the casino has ducked the national trend, however, said Pojoaque Gov. George Rivera.
"Just like all the other industries, gaming is down," he said.
"Fortunately, we were able to expand before the economy took a tailspin downward, but it's still a challenge for us," he said.
Rivera said the casino is employing about 200 fewer people than expected. Some jobs were cut last fall and some hires were never made, he said.
It also has a bond payment to make in June on the posh facility north of Santa Fe.
When asked whether the pueblo would be able to make the payment, Rivera said "most of that information I can't really talk about. It's confidential between us and the investor."
Meanwhile, the Navajo Nation had a net win of $7.3 million for the first quarter of this year, which ended in March.
TRIBAL GAMBLING NET WIN CHANGES IN N.M.
Here is a look at the percent change in the net wins per tribe from the first quarter of 2008 to the first quarter of 2009.
- Jicarilla Apache Nation: 20 percent
- Mescalero Apache Tribe: 4.96 percent
- Ohkay Owingeh: -17 percent
- Pueblo of Acoma: -35 percent
- Pueblo of Isleta: -3.57 percent
- Pueblo of Laguna: -9.4 percent
- Pueblo of Pojoaque: 91 percent
- Pueblo of Sandia: -2 percent
- Pueblo of San Felipe: -8.8 percent
- Pueblo of Santa Ana: -9.4 percent
- Pueblo of Santa Clara: -22 percent
- Pueblo of Taos: .08 percent
- Pueblo of Tesuque: -22 percent
- The Navajo Nation, which opened its casino last fall, reported $7,340,963 for the first quarter of 2009, according to the New Mexico Gaming Control Board.
Contact Kate Nash at 986-3036 or knash@sfnewmexican.com. Read her blog at www.greenchilechatter.com.
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