Suarez exits sees Connecticut Lottery search for new CEO

Frank Suarez, the executive director of the D.C. Lottery, has resigned to become the president and CEO of the Connecticut Lottery Corporation (CLC).

Suarez will stay in his current role until the end of July and will begin his new position in Connecticut on Aug. 1.

The CLC announced that Suarez’s appointment resulted from a nationwide search that lasted nearly a year. They chose Suarez for his experience, which includes seven years with the North Carolina Education Lottery and three years leading the D.C. Lottery. The CLC believes his background makes him uniquely qualified to lead them into the future.

“I am honored and excited to join the Connecticut Lottery Corporation and work with the talented team here to drive continued growth and success,” Suarez said. “Our focus will be on maximizing revenue for the state while maintaining the highest standards of integrity and responsible gaming.”

Suarez will take over the role previously held by Greg Smith.

In December, the CLC signed up Fanatics Betting & Gaming as its new sports betting vendor, replacing Rush Street Interactive. The lottery competes with industry leaders FanDuel and DraftKings, which operate in the state through partnerships with the Mohegan Sun and Foxwoods tribal casinos.

Suarez’s departure coincides with a shakeup in D.C. sports betting. His career move comes right after the D.C. Council voted to open the district’s online gaming market to multiple commercial operators.

Following the vote, the district budget will head to the governor’s table with language that allows companies like BetMGM, Caesars, DraftKings, and Fanatics to enter the market and compete with FanDuel.

As of April 15, FanDuel is the only operator licensed to offer online and mobile sports betting throughout D.C. It subcontracts this right from Intralot, the D.C. Lottery’s contracted operator.

In its first full month of operations as D.C.’s exclusive online wagering provider, FanDuel generated $4.9 million in revenue, an increase of nearly 600% from the amount GambetDC made in the same month last year. The betting handle rose 450% from $5.4 million on GambetDC to nearly $30 million through FanDuel.