Casinos Need Help and Ask Congress for Money

Similar to the US airline industry, casinos need help in America and are now asking Congress for emergency finances as the gambling industry is taking huge losses during the Coronavirus outbreak. Las Vegas and other tourist destinations are hemorrhaging cash.

The requested aid could come in the form of a comprehensive bailout package, similar to what lawmakers might give to the airlines, cruise companies and the hospitality industry. Other possibilities include direct cash payments, deferred taxes or special bankruptcy protections, The Washington Post reports, citing two people with knowledge of the conversations who were not authorized to speak publicly.

One person said that on a strategy call Monday with members of the American Gaming Association (AGA), which represents the industry, a representative of Wynn Resorts raised the possibility of the industry seeking cash payments. Wynn was previously run by one of President Trump’s biggest political donors, Steve Wynn, who resigned his post in 2018.

You can read more about how casinos need help and what they are doing to cope with the virus outbreak, visit Yogo Net.