The American Gaming Association (AGA) has welcomed revised regulatory guidelines issued by the Small Business Administration (SBA) that permit size-eligible small gaming entities to participate in the Paycheck Protection Program.
AGA President and CEO Bill Miller stated: “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.
“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.”
Miller added that he was 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. Furthermore, he acknowledged 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”.
Importantly, Congress has approved $310bn in new funding to refresh the Paycheck Protection Program and an additional $174bn in resources for small businesses, hospitals, and testing programs, which President Trump just signed into law.
Miller concluded: “Policymakers plan to reconvene in early May to consider a fourth COVID-19 relief package and we are working diligently to communicate gaming’s priorities. At the same time, the AGA is working with our member companies on resources and information to guide reopening efforts when it is safe and healthy to do so.”