winstar world casino onlineorg.Small casinos remain ineligible for coronavirus relief through the Small Business Administration’s Paycheck Protection Program (PPP), despite recent amendments from the US Treasury Department.(Image: CNBC)With US casinos shuttered by the coronavirus, ratings agencies are issuing lower grades on debt issued by gaming operators.liberty slots promotionsThey are hitting those companies with “negative” outlooks or both, as the industry grapples with a zero-revenue scenario, with no near-term end in sight.Bellagio operator MGM is staring down a possible credit downgrade, says Moody’s.Small businesses are able to receive forgivable loans up to million through the Small Business Administration so long as at least 75 percent of the money is used to continue paying employees.seminole casino line of credit

poker casino en

sunset station casino nvevastating” consequences for the city.But I want to be clear, it’s nofree slots bonust small casinos.MGM Resorts International’s (NYSE:MGM) credit rating was confirmed at “Ba3” by Moody’s Investors Service.online casino australia real money poker”Industry ResponseIn updated clarification issued today, the Treasury Department now says any business that had revenue from gambling exceeding million in 2019, and enterprises that made at least 50 percent of their income from gambling that same year, are ineligible for PPP money.MGM’s grade has “speculative elements” and “is subject to substantial credit risk.They are hitting those companies with “negative” outlooks or both, as the industry grapples with a zero-revenue scenario, with no near-term end in sight.desert diamond casino covid 19

scarlet pearl casino commercial

hollywood casino 500 matchorg.Lacking VisibilityCredit raters are pro“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 (PPP),” said American Gaming Association President Bill Miller.The confirmation of the company’s Ba3 corporate family rating (CFR) reflects MGM’s good liquidity, including sizable cash balances, aided by revolver drawdowns, and the ability to withstanfree slots bonusd a meaningful but temporary cash burn from weakened operating performance and facility closures related to the coronavirus,” said Moody’s in a note obtained by Casino.Lacking VisibilityCredit raters are pro“As Congress seeks to put additional resources behind the PPP, we look forward to working with them to make it clear that ‘we are all in this together’ by rejecting the SBA’s dangerous view that gaming employees don’t deserve assistance during this unprecedented crisis.the d casino blackjack