Home Gaming Casinos not eligible for SBA paycheck protection loans

Casinos not eligible for SBA paycheck protection loans

by Nevada State News

LAS VEGAS — The American Gaming Association is protesting the federal interim guidelines for the Small Business Administration’s Paycheck Protection Program. The guidelines do not allow gaming establishments to participate.

“The American Gaming Association (AGA) is deeply concerned with the interim regulatory guidelines issued by the Small Business Administration (SBA), which preclude small gaming entities and their employees from receiving economic support under the newly-established Paycheck Protection Program (PPP),” the group’s CEO, Bill Miller said.

“In SBA’s efforts to quickly issue guidance on the PPP, they relied on antiquated, discriminatory regulations that ignore today’s economic reality and the congressional intent behind the CARES Act, which states that any business concern shall be eligible to receive an SBA loan if they meet specific qualifications regarding their number of employees.”

Most all (984 of 989) commercial and tribal casino properties have shuttered their doors as of April 1, AGA noted.

“Unless amended, these initial guidelines will irreparably harm one-third of the U.S. casino industry and the hundreds of thousands of Americans that rely on gaming businesses for their livelihood,” Miller added.

Related Stories

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept

Privacy & Cookies Policy
%d bloggers like this: