American Gaming Association President and CEO Bill Miller released the following statement on the revised interim regulatory guidelines that the Small Business Administration issued today for the Paycheck Protection Program:
“The Small Business Administration (SBA) today released revised regulatory guidelines that will allow additional small businesses that derive revenue from legal gaming to participate in the Paycheck Protection Program (PPP). While these changes represent some progress, they fall woefully short of fully addressing antiquated, discriminatory policies that have, to date, restricted small gaming companies from accessing critical loan support made available through the CARES Act. As a result of this half-measure, small gaming businesses that have closed to comply with government orders will continue to be denied access to this critical lifeline to support their employees."
- Last Thursday, the AGA wrote to President Trump regarding the Paycheck Protection Program.
- Dozens of bipartisan members of Congress also called the administration and wrote letters regarding gaming’s exclusion from the program.
- Casino gaming is vital to local small businesses, supporting 350,000 small business jobs and delivering $52 billion annually in small business revenue, including construction, manufacturing, retail, and wholesale firms.
- All 989 commercial and tribal casino properties have shuttered their doors because of the COVID-19 pandemic. More than half of the 1.8 million jobs gaming supports are at non-gaming businesses, such as restaurants and local shops, which are all dramatically affected by a local casino’s closure.
- In many states, gaming pays among the highest tax rates of any industry with $10.7 billion in gaming taxes and tribal revenue share payments that support fundamental and critical programs from infrastructure to education.
More information on COVID-19’s impact on U.S. casino industry workers and local communities is available http://www.americangaming.org/covid-19-resources/#impact-of-covid-19.