Penn Entertainment faced a stern rebuke from the Nevada Gaming Commission over significant compliance failures, particularly involving the presence of minors in casinos and the inclusion of self-excluded individuals in betting activities. These lapses have spotlighted the company’s urgency in updating policies to conform to stringent regulatory requirements. Notably, these issues emerged as pivotal concerns during the review of Penn’s ongoing IPO process, yet the offering proceeded with approval despite these flagged shortcomings. Commissioner Rosa Solis-Rainey highlighted persistent compliance challenges dating back to 2020, signaling a continued struggle in adhering to established standards.
Chris Soriano, the Vice President and Chief Compliance Officer at Penn Entertainment, responded by acknowledging the delays in policy updates, which he attributed to an extensive review alongside external legal counsel. This comprehensive examination aimed to forge robust policies that could withstand varied regulatory landscapes across the states. Soriano emphasized that Penn planned to finalize this review by August 15, although Solis-Rainey voiced dissatisfaction with the pace and demanded interim measures to curb further violations. Soriano assured improvements in inter-property communication and mentioned a new corporate policy addressing diverse state regulations, while admitting the difficulty of harmonizing compliance with twenty different regulators.
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