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Appointment of Frank Suarez as President and CEO of the Connecticut Lottery Corporation

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Appointment of Frank Suarez as President and CEO of the Connecticut Lottery Corporation

 

CT Lottery Corporation Board of Directors voted to appoint Frank Suarez, Executive Director of the DC Office of Lottery and Gaming, as the new permanent President and CEO of the Connecticut Lottery Corporation (CLC). The appointment of Mr. Suarez will be effective as of August 1, 2024.

The appointment is the culmination of a nationwide search that began eleven months ago, with nearly 300 candidates from across the country having applied for the position. Mr. Suarez was selected for the position, as his strategic vision, dedication to customer-centric solutions, and commitment to fostering a collaborative and inclusive work environment best aligned with CLC’s core values and vision for the future.

Mr. Suarez brings with him a wealth of experience and a strong track record of success in the lottery and gaming industry. With over 10 years of progressive lottery leadership roles, including seven years with the North Carolina Education Lottery as Deputy Executive Director of Brand Management and Communications and, most recently, as Executive Director of the DC Lottery for the past 3 years, he is uniquely qualified to lead CLC into its next phase of growth and innovation.

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

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Since 2014, Mr. Suarez has served in leadership roles at two state lotteries, the North Carolina Education Lottery and the DC Lottery. Under his leadership, the DC Lottery saw significant increases in revenue and profitability through innovative strategies and effective management. During his tenure, Mr. Suarez directed a remarkable turnaround in sports betting operations, transforming a loss into profitability in less than a year and establishing the DC Lottery sportsbook as the largest in the District. He also successfully negotiated and led the conversion to a new mobile and online sports betting platform, resulting in an astounding 887% growth in gross gaming revenue within the first 30 days of operation. Mr. Suarez also helped to revitalize iLottery marketing strategies, launch a new mobile app and expand the DC Lottery’s game portfolio. These efforts led to a 168% increase in gross gaming revenue, ensuring long-term growth and profitability for the iLottery segment. Mr. Suarez also currently serves as Vice Chair of Multi-State Lottery Association’s (MUSL) Product Development Committee and Chairman of the MUSL Fast Play Product Group.

In addition to his lottery experience, Mr. Suarez also possesses extensive private sector experience in Brand Marketing and Management, which includes strategy, planning, product innovation, and promotion, for several national and global brands. He holds a Master of Business Administration (M.B.A) degree from Darden Graduate School of Business Administration, University of Virginia, as well as a Bachelor of Science in Business Administration (B.S.B.A) degree from the Kenan-Flagler Business School at the University of North Carolina.

“We are thrilled to welcome Frank Suarez as our new President and CEO,” said Robert T. Simmelkjaer, Board Chair of CLC. “His exceptional leadership skills, extensive industry experience, and visionary approach make him the perfect choice to guide our company into the next phase of growth and innovation. We are confident that, under his stewardship, we will continue to achieve remarkable success and continue to deliver value to our players and revenue to the State of Connecticut.”

As CLC welcomes Mr. Suarez to Connecticut, the Board of Directors would like to acknowledge and express gratitude to Greg Smith for his leadership and dedication over the past 6 years. He has been instrumental in steering the Connecticut Lottery to its current position as one of the highest performing lotteries in the country. Effective August 1, 2024, Mr. Smith will assume the position of Special Consultant to assist with the transition of leadership. He plans to officially retire at the end of September.

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Compliance Updates

Betsson Obtains Local Gaming Licenses in Peru

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A subsidiary of Betsson AB has obtained its first local licenses for the newly regulated market in Peru. The licenses cover online casino and sports betting for the Betsson and Betsafe brands. Further, licenses for the Inkabet brand are expected to be obtained soon.

Betsson began its Latin American venture already in 2008 and has since then positioned itself as the most recognized sports betting brand in Peru. In 2019, the Group further strengthened its position toward the country with the launch of its Betsafe brand. Two years later Inkabet, a Peruvian-facing sports betting and online casino business, was acquired.

Besides the new licenses, the Group holds licenses in two other key markets in the region, Colombia, and Argentina. In Argentina, Betsson holds licenses in Buenos Aires City, Buenos Aires province, and Córdoba.

Pontus Lindwall, President and CEO of Betsson AB, said: “We have really looked forward to Peru introducing a local regulation and are very pleased with the issuing of these licenses. With this announcement, we affirm our commitment to the local economy and the new regulatory framework in the country.”

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Conferences

QCI’s Andrew Cardno to Speak at the Casino Marketing & Technology Conference

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Andrew Cardno, the Chief Technology Officer of Quick Custom Intelligence, will be a featured speaker at the Casino Marketing & Technology Conference, taking place at the Grand Sierra Resort & Casino in Reno, Nevada. On July 17, 2024, Cardno will present an engaging session focused on strategies for casino marketing during these unpredictable times.

In his session titled “Effective Marketing Strategies for Casino Operators in a Volatile Economic Landscape,” Cardno will delve into innovative marketing tactics that can help casino operators navigate and thrive amid economic uncertainty. Drawing inspiration from Nassim Taleb’s groundbreaking work “The Black Swan,” Cardno will explore how leveraging unpredictability can become a powerful tool for casino marketers.

Attendees will gain insights into long algorithmic gaming tactics and how to adapt to the evolving convergence of entertainment and gambling. Cardno’s approach emphasizes agility and responsiveness, enabling marketers to stay ahead of sudden market changes and maintain sustained engagement and profitability.

“In these unpredictable times, it’s crucial for casino operators to embrace volatility and turn it into an advantage. By leveraging advanced marketing strategies and long algorithmic gaming tactics, we can create a more resilient and adaptive approach to casino marketing. This session will provide actionable insights to help marketers navigate the challenges and opportunities that lie ahead,” Andrew Cardno, CTO of Quick Custom Intelligence, said.

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“We are thrilled to have Andrew Cardno speak at this year’s conference. His expertise in data-driven marketing strategies and his ability to draw on concepts from thought leaders like Nassim Taleb will provide invaluable perspectives for our attendees. This session promises to equip casino operators with the tools they need to thrive in today’s dynamic economic landscape,” Deana Scott, CEO of Raving, said.

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Latest News

The Future of Gaming: Virtual Coin Exclusive Slots

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Within the last few years, there has been a significant change in the gaming industry towards digital assets. One of the most noticeable changes in this trend is the rise of virtual coin-based casinos. Among the numerous games at one’s disposal, slots are a preference for plenty of individuals. With the recent technology advancements, there is high hope for exclusive slot games that use virtual coins. We’ll discuss what lies ahead in terms of virtual coin-exclusive slots.

Immersive Technologies Reshaping the Slot Experience

The integration of augmented reality (AR) and virtual reality (VR) is set to transform slot gaming. These technologies will create more engaging and interactive environments for players. Imagine spinning reels projected onto your living room wall or stepping into a fully realized virtual casino. AR slots could overlay digital elements onto the real world, seamlessly blending the physical and digital realms. VR, on the other hand, might transport players to fantastical settings for their slot adventures. Picture yourself spinning the reels in an underwater city or on a distant planet. These immersive experiences will add new layers of excitement to traditional slot gameplay.

The social aspect of gaming will also evolve with these technologies. Players could interact with each other in virtual spaces, sharing the thrill of big wins. Friends could meet in virtual coin casinos, regardless of their location. This social dimension could make slot gaming a more collaborative and communal experience. As the technology becomes more accessible, we expect to see a surge in the popularity of these immersive slot games.

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Enhanced Transparency and Fairness Mechanisms

Trust is paramount in online gaming, even when you play Yay Casino slots. Future virtual coin slots will likely incorporate advanced fairness proofs and transparency measures. Blockchain technology could play a crucial role in ensuring the integrity of game outcomes. Each spin could be recorded on a public ledger, allowing players to verify results independently. This level of transparency would build confidence and trust among players.

Smart contracts could automate payouts, ensuring instant and accurate disbursement of winnings. These self-executing contracts would eliminate the need for manual processing, reducing errors and delays. Players could receive their gifts and bonuses immediately after a winning spin. Using decentralized systems could also enhance security, protecting players’ assets and personal information. As these technologies mature, we can expect virtual coin slots to become even more secure and trustworthy.

Artificial Intelligence Driving Personalization

Artificial Intelligence (AI) is set to revolutionize the slot gaming experience in numerous ways. AI algorithms could analyze player preferences and behaviors to offer tailored game recommendations. This personalization could extend to the games, with AI adjusting difficulty levels and bonus features. The result would be a more engaging and satisfying gaming experience for each player.

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AI could also enhance the storytelling aspects of slot games. Imagine slots with adaptive narratives that change based on your choices and playstyle. These intelligent systems could create unique storylines for each player, making every session feel fresh and exciting. Additionally, AI could help identify potentially problematic behaviors, promoting responsible gaming practices. By analyzing patterns, AI could offer proactive support and resources to players who may need assistance.

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