Casinos now qualify for the federal Paycheck Protection Program, according to an announcement from U.S. Sen. Mike Rounds, R-S.D.
The program makes forgivable loans to businesses with 500 or fewer employees. But the U.S. Small Business Administration has pre-existing rules against lending money to businesses that get more than a third of their revenue from gambling.
Rounds said Friday the SBA has agreed to modify its rules and let casinos apply. Congress also recently agreed to restock the loan fund with $310 billion.
“Like every other sector of South Dakota’s economy right now, our gaming facilities, such as tribally-owned casinos and gaming operations in Deadwood, need relief,” Rounds said in a news release.