(The Center Square) – Sin City has no shortage of milestones that have suffered tremendously amid the COVID-19 pandemic, and according to payments from a federal grant program meant to help them and their employees, some important went to a handful of wealthy magicians.
The Small Business Administration of the United States Subsidy for operators of shuttered sites has distributed over $ 16 billion nationwide. In Nevada, 206 entities were promised more than $ 193 million in two waves of grants.
The list of companies reflects Nevada’s flashy entertainment industry. The winners include a high-flying trapeze act, exclusive nightclubs, dance troupes, festivals and more.
Four organizations received the maximum of $ 10 million allocated; Vegas mainstay David Copperfield’s Disappearing Inc. is one of them. The business entity of magician duo Penn and Teller received more than $ 7.5 million.
Magic Revolution by illusionist Criss Angel not only received $ 6,964,936, but his production company, Angel Productions Worldwide, received $ 6,502,920 as a separate grant. Angel, real name Christopher Sarantakos, is worth around $ 50 million.
Meleco Records, the Incline Village recording label owned by Beach Boy founder Mike Love, is also among the state’s top 10 recipients. The musician is said to be worth $ 80 million. Meleco received $ 7,517,320.
According to the granting criteria, magicians and others seem to qualify in the classification “operator or promoter of performance hall”. Recurring acts like Copperfield and others have great organizations working behind the scenes to make sure the shows go off without a hitch.
Applicants are eligible to receive 45% of their 2019 gross income, up to $ 10 million per grant. To qualify for the grant, the businesses had to have been opened by February 29, 2020. Any federal paycheck protection program loans that the businesses canceled would have to be subtracted from the grant total.
The top ten recipients from Nevada:
â¢ $ 10 million: Brenden Theater Society;
â¢ $ 10 million: Disappearing Inc. by David Copperfield;
â¢ $ 10 million: Life Is Beautiful LLC (an annual festival held in Las Vegas);
â¢ $ 10 million: The Smith Center for the Performing Arts;
â¢ $ 7.6 million: Steve Beyer Productions Inc. (a promoter of cover groups and others);
â¢ $ 7.52 million: Meleco SARL (Beach Boy member Mike Love’s label);
â¢ $ 7.3 million: Buggs & Rudy Discount Corp. (Penn and Teller);
â¢ $ 7.15 million: MB BC Limited Liability Company (a Las Vegas nightclub);
â¢ $ 6.96 million: Magic Revolution LLC (Criss Angel, who also received another $ 6.5 million grant);
â¢ $ 6.88 million: Galaxy Sparks LLC (a chain of movie theaters).