AGA claims victory after PPP eligibility amendment
The eligibility requirements for the Paycheck Protection Program (PPP) have been amended to allow small gambling businesses to benefit from the fund, following an intense lobbying effort from the American Gaming Association (AGA).
The eligibility requirements for the Paycheck Protection Program (PPP) have been amended to allow small gambling businesses to benefit from the fund, following an intense lobbying effort from the American Gaming Association (AGA).
The PPP is a series of loans for small businesses, which are forgiven if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities. The total value of the scheme is $349bn.
However the PPP – which is one element of the Coronavirus Aid, Relief and Economic Security (CARES) Act that was signed into law on 27 March – initially would not allow companies that relied on gambling for revenue to apply for the loans.
Earlier this month (6 April), Miller and the AGA wrote a letter to the SBA and US Department of Treasury, urging them to amend this. Two days later, the group wrote a letter to US President Donald Trump, again calling for the restrictions to be removed