Today, April 24, 2020, the Trump administration eliminated a rule that had previously denied small casinos from accessing funds allocated for small businesses as part of the Paycheck Protection Program (PPP). Now, casinos and gaming operations with less than 500 employees are eligible to apply for PPP loans. The SBA’s interim final rules released today, state a business that is otherwise eligible for a PPP Loan is not rendered ineligible due to its receipt of legal gaming revenues, and 13 CFR 120.110(g) is inapplicable to PPP loans.
The PPP funds will help small businesses and their employees get through the tough economic climate caused by COVID-19.
The full SBA regulatory guidelines can be read by here.
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