Pueblo of Nambé shuts down small casino after less than two years in operation
Monday, December 18, 2017
The Nambé Falls
Casino in New Mexico is no more. Photo: Pueblo of Nambé
The Pueblo of Nambé shut down its small gaming facility after slot machine revenues dwindled, The Santa Fe New Mexican reports.
The Nambé Falls Casino only offered 180 slot machines when it opened in January 2016. But net revenues fell from $1.1 million during the first couple months of operation to just $11,714 for the months of July, August and September of this year, the paper reported.
The casino closed on September 8, the paper said.
The facility was located on the same stretch of highway as three other tribal casinos in norhtern New Mexico. It was less than a mile south of the Buffalo Thunder
Resort and five miles south of the Cities of Gold, both operated by the Pueblo of Pojoaque.
The Pueblo of Tesuque runs the Camel Rock Casino just three miles from Nambe Falls. That facility is showing some signs of improvement but slot revenues have failed to return to 2009 levels, The New Mexican reported.
Read More on the Story:
Game over: Shrinking slot revenue sinks Nambe casino
(The Santa Fe New Mexican December 16, 2017)
$P Federal Register Notice:
Gaming; Tribal-State Class III Gaming Compacts Taking Effect in the State of New
Mexico (December 29, 2015)
Pueblo pays off remaining funds owed to gaming developer (May 5, 2016)
Pueblo hopes small casino stands out in a crowded market (February 9, 2016)
Pueblo announces grand opening for new gaming facility (January 15, 2016)