American Gaming Association (AGA) President and CEO Bill Miller has issued a statement following the release of the interim regulatory guidelines issued by the Small Business Administration (SBA) for the Paycheck Protection Program (PPP).
Miller discussed his concern with the SBA’s interim regulatory guidelines due to it seemingly denying small gaming entities and its employees the ability to receive economic support under the newly-established PPP.
He stated: “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.
“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 continued by further criticizing the new measures due to those it would affect, with the CEO stating that all Americans ‘deserve the same level of support as anyone across the country during these unprecedented times.’
In addition to this, the AGA President also cited the critical nature in ensuring that employees remain connected to their employers, stay off unemployment, and have the ability to quickly return to their jobs once the COVID-19 pandemic subsides.
Miller concluded: “The AGA urges SBA Administrator Carranza to immediately correct this oversight and extend this needed relief to all of America’s small businesses and their employees, including those in the communities across 43 states that rely on our industry’s contributions.”
More information on COVID-19’s impact on U.S. casino industry workers and local communities is available here.