Las Vegas Sun

March 28, 2024

Nevada lawmakers want loan aid for small gaming outfits

Building

Andrew Harnik / AP

In this March 30, 2019, file photo the Dome of the U.S. Capitol Building is visible as cherry blossom trees bloom on the West Lawn in Washington.

Many small gaming businesses have been shut out of federal disaster loans, but Nevada’s congressional delegation is pushing for them to be included in future legislation.

Sen. Jacky Rosen, D-Nev., said today she is pressing to expand benefits to all small gaming businesses in the next aid package.

She criticized a decision to exclude businesses that make more than $1 million or 50% of their revenue from gaming.

That’s relaxed from the original rule from the Small Business Administration that set the threshold at more than a third ofrevenue from gaming.

“It seems to me that the Small Business Administration is arbitrarily picking winners and losers,” Rosen said. “It wasn’t Congress’ intent to exclude any businesses from getting economic disaster relief.”

Congress approved money to provide forgivable loans to small businesses struggling amid the coronavirus pandemic to cover payrolls and other basic expenses.

Businesses nationwide have been forced to temporarily close to help curb the spread of the virus.

Democratic Rep. Dina Titus, whose district makes up much of Las Vegas, last week criticized the gaming exclusion.

“If you look at the language of the (stimulus package), it’s very clear,” Titus said. “It explicitly states that all small businesses should be eligible to receive a loan if they have 500 or fewer employees, so I don’t know why they decided to stick that additional requirement on there.”

Rep. Steven Horsford, a Democrat who represents much of North Las Vegas and some rural areas, said Nevada businesses should get their fair share of the funding and leaving out gaming businesses impacts the state heavily.

“If we don’t address it, it disproportionally impacts my state, businesses in my district, and that’s part of my job is to fight for them,” Horsford said.

Rosen has also called for expanding the program to include cannabis-related businesses. If businesses are operating within state law and paying taxes, they should be able to access emergency programs, she said.

Recreational marijuana, which is legal in Nevada and many other states, is still illegal under federal law.

She said the virus is “an equal opportunity destroyer. The intent of Congress was to help all of our businesses.”

Congress is tentatively set to reconvene May 4.