America’s casino lobby says its smaller gaming operators deserve access to federal funding aimed at mitigating the fallout of suspended business related to the COVID-19 pandemic.
Last Friday, American Gaming Association CEO Bill Miller issued a statement challenging guidelines issued by the Small Business Administration (SBA) regarding the federal government’s Paycheck Protection Program (PPP). Specifically, Miller took issue with the SBA’s view that “small gaming entities and their employees” are ineligible to receive PPP benefits.
Miller said the AGA was “deeply concerned” by the SBA’s decision to stick with its standard prohibition on issuing Economic Injury Disaster Loans to any entity “deriving more than one-third of gross annual revenue from legal gambling activities.”
The AGA notes that the federal bailout specifically states that any business concern shall be eligible for an SBA loan if it meets specific qualifications regarding its number of employees. The AGA warns that unless the SBA’s guidelines are amended, “one-third of the US casino industry” and hundreds of thousands of casino staff and associated businesses will suffer irreparable harm.