Terrorism Risk Insurance Reauthorization Passes Congress, Will Provide Much-Needed Certainty to Gaming Industry
Washington, DC – American Gaming Association President and CEO Geoff Freeman released the following statement after the new Congress swiftly reauthorized the Terrorism Risk Insurance Act (TRIA), which expired last week, now sending it to the President’s desk:
“We’re pleased that Congress has heard our message on the importance of reauthorizing TRIA on a multi-year basis, a vital tool that ensures economic continuity for the gaming industry in the event of a terror attack. Today, after many months of advocacy by the AGA and a wide range of businesses, the gaming industry’s hotels, casinos, entertainment venues and manufacturing facilities received the certainty necessary to protect our businesses, employees and patrons in the wake of potential acts of terrorism.”
TRIA was first enacted in 2002 following the September 11th, 2001 terrorist attacks. TRIA pays for “the Federal share of compensation for insured losses resulting from acts of terrorism.” Congress has reauthorized the program twice.
The AGA, in partnership with other business leaders as part of the Coalition to Insure Against Terrorism (CIAT), has worked diligently to ensure passage of TRIA. Last year, Freeman sent a letter to Senate Banking Committee leaders urging TRIA’s extension. Last fall, AGA aggressively worked with House members also urging swift consideration of TRIA.
In November, the AGA joined dozens of other business leaders to storm Capitol Hill and advocate for the importance of TRIA to gaming. The AGA led direct meetings with targeted Members of Congress including Sen. Dean Heller (R-NV), Rep. Joe Heck (R-NV), Rep. Andy Barr (R-KY) and policy staff for Sen. Harry Reid (D-NV). Additionally, in conjunction with coalition partners, AGA helped recruit dozens of Members of Congress to support the reauthorization of TRIA.