Navajo Nation Entering The Casino Era in New Mexico

Casino gambling is big business with American Indian tribes. They have prospered by putting casinos in areas and watching as people flock to spend their money.

The Navajo Nation is apparently done with watching from the sidelines. The Window Rock tribe has plans to build the first casino for the tribe in New Mexico.

"We are extremely pleased with this outcome and grateful for the work and vision of the tribe's resource committee, budget and finance committee and the president's office support," said interim CEO of Navajo Nation Gaming Enterprise.

The casino will be funded through a $35 million loan from the tribe's Land Acquisition Trust Fund. The loan will be over seven years at an eleven percent interest rate, which will be paid through all of the first year's payments.

"History in the making," is how Navajo Nation Budget and Finance Chairman Lorenzo Bates categorized the move by the tribe. The plan is to begin building in April. They expect to be open for business by October.

March 21, 2008
Posted By Tom Jones
Staff Editor, CasinoGamblingWeb.com
Submit News!