Loney Adds Extensive Compliance &
Regulatory Experience as Company Continues Rapid Expansion
JERSEY
CITY, N.J., Oct. 27,
2022 /PRNewswire/ -- BetMGM, a leading sports betting
and digital gaming entertainment company, today announced that Rhea
Loney will join its executive team as Chief Compliance
Officer. Loney will oversee BetMGM's compliance department,
including online and retail operational compliance, registration
and licensing, AML and financial compliance, and responsible
gaming.
"Rhea brings extensive industry knowledge and regulatory
experience to BetMGM and is a phenomenal addition to our team as we
continue to grow rapidly in a dynamic industry," said Adam Greenblatt, CEO, BetMGM.
Loney joins BetMGM from Penn Interactive, the online subsidiary
of Penn Entertainment, Inc., where she served as VP of Compliance,
Regulatory Affairs & Strategy. While at Penn, she helped build
the compliance team, including licensing, regulatory affairs,
operational compliance, risk & fraud, AML, and responsible
gaming departments. Additionally, Loney oversaw the online launch
of Barstool Sportsbook in 13 states, iCasino in 4 states and over
20 retail sportsbook launches.
Upon her appointment, Loney said, "I'm thrilled to play a
meaningful role in BetMGM's continued commitment to excellence in
compliance. BetMGM is uniquely positioned in the market,
and we will continue to be a leader and innovator in
responsible gaming and compliance."
Prior to Penn Interactive, Loney served as an Assistant Attorney
General with the Louisiana Department of Justice, Division of
Gaming. While there, she represented and provided legal counsel to
the Louisiana State Racing Commission from 2011 to 2019 and was
first to administratively prosecute the Dermophin (Frog Juice)
cases in the U.S.
Loney holds a J.D. from Tulane Law
School, and a B.S. from Southeastern
Louisiana University.
For more information on BetMGM, follow @BetMGM on Twitter.
About BetMGM
BetMGM is a market-leading sports betting and gaming
entertainment company, pioneering the online gaming industry. Born
out of a partnership between MGM Resorts International (NYSE: MGM)
and Entain Plc (LSE: ENT), BetMGM has exclusive access to all of
MGM's U.S. land-based and online sports betting, major tournament
poker, and online gaming businesses. Utilizing Entain's
US-licensed, state of the art technology, BetMGM offers sports
betting and online gaming via market-leading brands including
BetMGM, Borgata Casino, Party Casino and Party Poker. Founded in
2018, BetMGM is headquartered in New
Jersey. For more information, visit
http://www.betmgminc.com/.
Statements in this release that are not historical facts are
"forward-looking" statements and "safe harbor statements" within
the meaning of the Private Securities Litigation Reform Act of 1995
that involve risks and/or uncertainties, including BetMGM's ability
to grow in new or existing jurisdictions. Management has based
forward-looking statements on current expectations and assumptions
and not on historical facts. Among the important factors that could
cause actual results to differ materially from those indicated in
such forward-looking statements include the effects of economic and
market conditions in the jurisdictions in which BetMGM operates,
competition with other iGaming and sports betting platforms, the
timing and costs of expanding in new jurisdictions as well as
obtaining and maintaining the required permits, licenses,
financings, approvals and other contingencies in connection with
growth in new or existing jurisdictions. In providing
forward-looking statements, BetMGM is not undertaking any duty or
obligation to update these statements publicly as a result of new
information, future events or otherwise, except as required by law.
If BetMGM updates one or more forward-looking statements, no
inference should be drawn that it will make additional updates with
respect to those other forward-looking statements.
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SOURCE BetMGM