I wrote this morning about Buffalo Thunder Resort and Casino not being able to make a payment this month on its $245 million bond.
A reader let me know that there's a similar situation at the Inn of the Mountain Gods in Ruidoso. He said local radio station KWES reported last week that the Inn defaulted on a $12 million interest payment on its $200 million bond.
Even though two new casinos opened in the past year in the state -- including Buffalo Thunder -- casino net wins dropped by almost $2.5 million in the first quarter of 2009 compared to the same time period last year.
That trend could spell bad news for the state, because of revenue sharing agreements under which the state gets a cut of what the casinos take in.