AGA CEO: Revised PPP guidelines
US Government revises Paycheck Protection Program guidelines, though American Gaming Association feels the changes do not go far enough.
The Small Business Administration (SBA) has revised its Payment Protection Program (PPP) regulatory guidelines to assist gaming firms during the coronavirus pandemic.
However, American Gaming Association (AGA) CEO Bill Miller believes the revisions “fall woefully short of fully addressing the situation.”
Following the release of the initial PPP guidelines, which set out unfavourable terms for gaming firms, Gaming America speculated as to whether the US Government would follow in the UK Government’s footsteps and reverse its decision.
The SBA has since amended its guidelines but Miller is adamant “some progress” is not nearly enough.
The AGA CEO said in a statement: “The Small Business Administration today released revised regulatory guidelines that will allow additional small businesses that derive revenue from legal gaming to participate in the Paycheck Protection Program.
“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.”
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