MGM’s exclusive sports betting division and headline brand for online casino gaming BetMGM has filled up the vacant position of a chief compliance officer with Rhea Loney. Loney will be responsible for managing all gaming regulatory compliance for the brand under the close supervision of the interim chief legal officer Joshua Jessen. The latter took the new position in June after spending half a year as BetMGM’s vice president and deputy general counsel in Jersey City.
Loney to Drive Compliance Goal Setting and Performance
As part of her new responsibilities as BetMGM’s chief compliance officer, Loney will focus on driving compliance goal setting and performance while coordinating the brand’s activities with the rest of the finance, legal, operations, and technology groups. She will also need to verify that the Compliance Program is fully adapted and ready to accommodate the one-of-a-kind cultural, legal, and regulatory differences in different US states, areas, and legalized markets.
Loney will need to create and use procedures and standards that can mitigate risks associated with illegal, improper, or unethical conduct, while periodically conveying the standards at all levels throughout the company. She will also need to monitor BetMGM’s compliance with the same standards and create complex training programs meant to guarantee focused the ongoing evolution of the company’s culture of risk and compliance.
BetMGM’s new chief compliance officer will become a member of BetMGM’s executive committee while working on creating strong ties with state regulators. Loney will also offer compliance guidance to the company during its interactions with customers, making sure BetMGM fully complies with all current policies, regulations, and laws.
What Recommends Loney for the Position?
With a Certificate of Specialization in Environmental Law from the Tulane University Law School and an Attorney license issued by the Louisiana State Bar Association, Loney started her career at Magee, Zeringue & Richardson as a solo practitioner and contract attorney in May 2011. Simultaneously, she was appointed assistant attorney general by the State Racing Commission.
She spent almost eight years in this position until November 2019 when she became Penn Interactive’s director of compliance. In march 2021, she was promoted to the position of vice president of compliance and regulatory affairs. She spent the following 20 months there, before becoming BetMGM’s new chief compliance officer. At the beginning of the week, EveryMatrix made its content available to BetMGM customers in New Jersey. This marked its launch in the regulated gambling market in the US. Earlier in the month, BetMGM became Cincinnati Reds’ new sports betting partner.