UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): October 30, 2009

INN OF THE MOUNTAIN GODS RESORT AND CASINO

(Exact Name of Registrant as Specified in Charter)


Not Applicable (State or Other Jurisdiction of Incorporation)		333-113140 (Commission File Number)		75-3158926 (IRS Employer Identification No.)


287 Carrizo Canyon Road Mescalero, New Mexico (Address of Principal Executive Offices)		88340 (Zip Code)

Registrant’s telephone number, including area code: (575) 464-7000

Not Applicable
(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o		Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o		Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o		Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o		Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

TABLE OF CONTENTS


Item 7.01 Regulation FD Disclosure
SIGNATURES

Item 7.01 Regulation FD Disclosure

As part of discussions by the Inn of the Mountain Gods Resort and Casino (the “Company”) with certain of its creditors relating to a restructuring of its indebtedness, on July 20, 2009, the Company provided on a confidential basis the financial information set forth below.

Fiscal Year 2010 Projections

As stated above, on July 20, 2009, the Company provided on a confidential basis to certain of its creditors the projections for the Company’s fiscal year ending April 30, 2010 (“FY 2010”) set forth below. The projections have not been updated since that date and the Company is not under any obligation to do so. Neither the Company nor any other person makes any representation with respect to the projections, including without limitation, as to whether the projections constitute the Company’s current expectations with respect to FY 2010. The projections are qualified in their entirety by the information set forth in our filings with the Securities and Exchange Commission.

The projections are forward-looking statements and were prepared by the Company based on a number of assumptions and estimates that are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of such are beyond the Company’s control. The Company’s actual results for FY 2010 will differ from the projections and the differences may be material.

The projections were not prepared in a manner that complies with the published guidelines of the American Institute of Certified Public Accountants, any other regulatory or professional agency or body or generally accepted accounting principles. Neither the Company nor any other person assumes any responsibility for the accuracy of the projections or is providing any opinion or other assurance with respect thereto.

Inn of the Mountain Gods Resort and Casino — FY 2010 Projected


	PROJECTED
	TOTAL FY
	2010
	(in thousands)
Revenues

Total Gaming		86,546
Hotel		13,178
F&B		13,300
Recreation and Other		14,828


GROSS REVENUE		127,852

Operating Expenses		92,352

EBITDA		35,500

MARGIN		27.8	%

Inn of the Mountain Gods Resort and Casino — FY 2010 Projections by Quarter

August 2009 –

November 2009

February 2010 –

October 2009

– January 2010

April 2010

Q2 FY 2010

Q3 FY 2010

Q4 FY 2010

Total FY 2010

(in thousands)

Revenues

Total Gaming

23,405

18,876

19,961

86,546

Hotel

3,587

2,861

2,411

13,178

F&B

3,800

2,800

13,300

Recreation and Other

4,098

4,681

3,155

14,828

GROSS REVENUE

34,890

29,218

28,326

127,853

Total Operating Expenses

25,320

22,172

20,335

92,352

Depreciation

3,150

12,600

NET INCOME

6,419

3,896

4,841

22,901

EBITDA

9,569

7,046

7,991

35,501

MARGIN

27.4

24.1

28.2

27.8

Inn of the Mountain Gods Resort and Casino
Projected Statement of Cash Flows FY 2010


	QTR 1			QTR 2			QTR 3			QTR 4			Total
						(in thousands)
Operating Income		7,745			6,419			3,896			4,840			22,900
Interest Expense (excluding Bond)		(605	)		(605	)		(605	)		(605	)		(2,420	)
Management Fee		(180	)		(180	)		(201	)		(180	)		(741	)

Cash flows from operating activities:
Net (loss) income	$	6,960		$	5,634		$	3,090		$	4,055		$	19,739


Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization		3,150			3,150			3,150			3,150			12,600

Net cash provided by operating activities		10,110			8,784			6,240			7,205			32,339


Cash flows from investing activities:
Purchase of property, plant and equipment		(625	)		(625	)		(625	)		(625	)		(2,500	)

Net cash used in investing activities		(625	)		(625	)		(625	)		(625	)		(2,500	)


Cash flows from financing activities:
Borrowing		—			—			—			—			—
Repayment (BIA Loan & Key Lease Pmt)		(1,071	)		(1,071	)		(1,071	)		(1,071	)		(4,284	)
Distributions to Mescalero Apache Tribe		(8,000	)		—			—			—			(8,000	)

Net cash used in financing activities		(9,071	)		(1,071	)		(1,071	)		(1,071	)		(12,284	)


Net decrease in cash and cash equivalents		414			7,088			4,544			5,509			17,555
Cash and cash equivalents, beginning of period		7,557			7,971			15,059			19,603			7,557

Cash and cash equivalents, end of period	$	7,971		$	15,059		$	19,603		$	25,112		$	25,112

Estimated Financial Information for August and September 2009

The Company has not finalized its financial results for any period following July 31, 2009. As a result, the financial information for August and September 2009 presented below is based on estimates which are preliminary in nature. The information presented below is unaudited and, for August and September 2009, subject to adjustment based upon, among other things, the finalization of the Company’s quarter-end closing and reporting processes. Such adjustments may be material. This information is not necessarily indicative of the Company’s operating results for a full year or any future period. The financial information for August and September 2009 presented below was prepared by the Company and is based on a number of assumptions and estimates that are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of such are beyond the Company’s control. The Company’s actual results for the relevant periods following July 31, 2009 will differ from the financial information presented below and the differences may be material.

Inn of the Mountain Gods Resort and Casino – August and September 2009/2008


	August 2009			August 2008			September 2009			September 2008
				(in thousands)
Total Gaming Revenue		8,411			8,903			7,737			7,123
Hotel		1,300			1,473			1,051			1,102
F&B		1,281			1,501			1,158			1,206
Recreation and Other		1,213			1,466			1,396			2,465

GROSS REVENUE		12,206			13,342			11,341			11,896

Total Operating Expenses		7,657			9,832			7,797			9,480


EBITDA		4,549			3,510			3,544			2,416

MARGIN		37.3	%		26.3	%		31.2	%		20.3	%

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


	INN OF THE MOUNTAIN GODS RESORT AND CASINO
Dated: November 1, 2009	By:	/s/ Liz Foster Anderson
		Liz Foster Anderson
		Chief Operating Officer (Principal Executive Officer)

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

INN OF THE MOUNTAIN GODS RESORTS & CASINO 8-K