Small US gaming businesses gain access to Paycheck Protection Program27th April 2020 3:22 pm GMT
The American Gaming Association (AGA) has applauded the Small Business Administration’s (SBA) new guidelines that permit small gaming-related businesses to participate in the US government's Paycheck Protection Program.
The Paycheck Protection Program is a loan scheme designed to provide a direct incentive for small businesses to keep their workers on the payroll.
The program is being funded under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) but previously excluded small businesses that earned the majority of their revenue from legal gaming.
“In the nearly one month since the CARES Act was enacted to provide economic relief to blunt the impact of the COVID-19 pandemic, the American Gaming Association and our allies have fought tirelessly to correct the Small Business Administration’s antiquated policy that precluded gaming companies from qualifying for loans through the Paycheck Protection Program,” said American Gaming Association president and CEO Bill Miller. “We are pleased that the new regulatory guidelines released today make small gaming companies eligible for this critical program just as Congress has replenished its funding.
“I’m grateful to President Trump and his administration for recognizing that commercial and tribal gaming industry employees deserve the same support available to other small businesses, and for the significant, sustained efforts of members of Congress to amplify the need for changes to the guidelines to get small gaming operators and their employees through this challenging time.”