mohegan sun casino executives(Image: Elk Valley Casino)Under the .2 trillion Coronavirus, Aid, Relief, and Economic Security Act (CARES Act), Congress set aside 9 billion for the PPP. (Image: Elk Valley Casino)Under the .2 trillion Coronavirus, Aid, Relief, and Economic Security Act (CARES Act), Congress set aside 9 billion for the PPP. Small casinos are now eligible for the federal government’s Payroll Protection Program. seneca niagara casino smokingNow, the SBA says it doesn’t matter how mfree online vlt slots lucky larryuch a small business makes from legal gaming.“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,” said AGA President Bill Miller.“We are pleased that the new regulatory guidelines Those in favor of liquidating casino property holdings argue operators aren’t real estate companies, and selling property creates a near-term influx of capital while moving risk off the balance sheet. That diminutive footprint isn’t keeping some on Wall Street from being enthusiastic about the stock.In addition to owning all of its real estate, MCRI had one of the best balance sheets in gaming, coming into the pandemic with 2.2x net leverage at year-end,” said Union Gaming analyst John DeCree in a note to clients today.Selling real estate to boost cash holdings is common in the gaming industry. caesar casino windsor

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boomtown casino mibibippiConversely, those that don’t favor real estate sales as a means of boosting cash say the move creates a new liability for the seller in the form ofree online vlt slots lucky larryf what are usually lengthy leases.Dealing With a Rough ClimateLike its larger rivals, Monarch is contending with temporary property shutdowns forced by the coronavirus. Small businesses, defined as having 500 or fewer employees, were eligible to apply for forgivable loans (up to million) so long as they use at least 75 percent of the money to continue paying workers.A caveat in the initial bill excluded companies that derive more than one-third of their revenue from gambling. “We need to see more progress, and more slowing, before we can begin those considerations.”sycuan casino birthday promotions“We need to see more progress, and more slowing, before we can begin those considerations.”Companies making more than 50 percent of their revenue, as well as any business that made million in 2019 from gaming, remained disqualified.That updated conditions still excluded many small casinos throughout the country. Its Atlantis in Reno has been shuttered for more than a month, and the same is true of the company’s Centennial State property.The impact of the coronavirus closures on Monarch’s top and bottom lines is evident, as highlighted by the company’s first-quarter results revealed earlier this week. viejas casino lobster buffet

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chukchansi casino hiringSmall businesses, defined as having 500 or fewer employees, were eligible to apply for forgivable loans (up to million) so long as they use at least 75 percent of the money to continue paying workers.A caveat in the initial bill excluded companies that derive more than one-third of their revenue from gambling. Monarch Casino & Resort (NASDAQ:MCRI) is one of the smallest publicly traded gaming companies by market value – just 6 million – but it has massive upside potential in the eyes of some analysts. After being pressed by the gaming industry, the SBA amended the PPP regulations to permit companies that generate up to half of their income from gaming. (Image: YouTube)The Reno-based company owns just two casinos – the Atlantis Casino-Resort in its home market and the Monarch Casino Black Hawk in the Colorado town of the same name. Small casinos can now apply to receive funds through the Small Business Administration’s Payroll Protection Program (PPP) after the agency issued new regulations. ing. soaring eagle casino map