Latest News
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.”
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.
Gambling in the USA
Andrew Cardno to Deliver Keynote at November Gaming Conference in Phoenix: “How are Technology Advancements Impacting Decision Making and Driving Innovation in Gaming?”
The gaming industry continues to evolve with the rapid integration of advanced technologies, offering new pathways for innovation and decision-making. Andrew Cardno, Chief Technology Officer of Quick Custom Intelligence (QCI), will deliver a keynote address titled “How are Technology Advancements Impacting Decision Making and Driving Innovation in Gaming?” at this year’s premier gaming conference, taking place on November 12th and 13th in Phoenix, Arizona.
Cardno, a leading expert with over two decades of experience in gaming and technology, will explore how advancements such as artificial intelligence, machine learning, and data-driven solutions are reshaping decision-making processes within the gaming industry. His address will provide actionable insights for professionals seeking to stay ahead in this fast-paced environment.
“Technology is no longer just an enabler; it’s the driving force behind innovation in gaming,” said Andrew Cardno. “At this year’s conference, I will delve into how these advancements can empower industry leaders to make better, faster decisions and capitalize on new opportunities for growth.”
Mark Pace, President of the International Gaming Standards Association (IGSA), praised Cardno’s expertise: “Andrew Cardno has a deep understanding of how technology is transforming the gaming industry. His ability to translate complex innovations into practical, strategic insights makes him the ideal keynote speaker. His work continues to inspire and guide decision-makers across the gaming world.”
The conference, held in Phoenix on November 12th and 13th, promises to be a hub of cutting-edge discussions and networking opportunities, bringing together top leaders to explore the future of gaming.
Seeking to further contribute to the Latin America market with innovative products and services, BetConstruct is set to participate at the anticipated SBC Summit Latinoamérica to be held on October 29-31 in Hollywood Miami FL.
SBC Summit Latinoamérica has long positioned itself as the ultimate event for Latin America’s thriving markets, gathering over 4000 delegates, many of whom are key decision-makers in the region. The event features conferences held by over 200 experts in regulation, sports betting, casinos, marketing, compliance, and more. Also showcasing at the exhibition floor are over 70+ brands.
Already an established name in the Latin America market, BetConstruct continues to support the region with innovative offerings that will be showcased at the event. These include the comprehensive Sportsbook that has the capacity of covering 140k+ pre-match and 70k+ live events each month, massive Casino Suite with thousands of top-tier games developer both in-house and by reputable providers, impressive Live Casino, and DECA, a blockchain-based decentralised casino platform built for the future.
BetConstruct’s representatives are eager to greet SBC Summit Latinoamérica delegates at stand D30 at the Seminole Hard Rock Hotel & Casino in Hollywood Miami FL, USA on October 29-31 and discuss how the company’s expansive offerings can push the industry forward in the region. You can also book a meeting with them in advance. See you soon in Hollywood Miami FL!
Kyrrex, a crypto ecosystem, is thrilled to announce its official launch in the United States. With operations now live in ten states, Kyrrex is poised to offer American users a platform for cryptocurrency trading, payments, and wallet management.
Kyrrex’s U.S. platform enables users to buy and trade cryptocurrencies with competitive commissions of just 0.2%, making crypto transactions efficient and cost-effective. Available in California, Colorado, Hawaii, Utah, Indiana, Wisconsin, Missouri, Montana, Massachusetts, and Wyoming, Kyrrex is rapidly expanding to other regions across the U.S.
“We’re incredibly excited to bring Kyrrex to the U.S. market,” said Mike Romanenko, CVO & Co-Founder at Kyrrex. “Our platform is designed to offer American users a safe and reliable way to manage all their crypto needs, and we look forward to growing our presence across the country.”
Why the U.S. Market Matters for European Crypto Companies
The U.S. represents one of the largest and most dynamic crypto markets in the world. As of 2024, the U.S. accounts for over 25% of global cryptocurrency activity, driven by increasing institutional investment and mainstream adoption. The approval of Bitcoin exchange-traded Funds (ETFs) has boosted institutional interest significantly, signaling a shift toward greater acceptance of cryptocurrencies as full-fledged assets. By 2025, the U.S. crypto market is expected to see substantial growth, with estimates projecting a compound annual growth rate (CAGR) of over 12% in the sector, supported by both retail and institutional demand. For companies like Kyrrex, entering the U.S. market is a strategic move to expand user reach and tap into this rapidly evolving landscape, which offers vast potential for innovation and growth.
Kyrrex’s expansion into the U.S. is a testament to the company’s commitment to building a global crypto ecosystem that connects crypto-related services in one platform. By providing American users with access to a platform that offers crypto trading, wallet services, and low-fee purchases via debit and credit cards, Kyrrex is positioned to be a responsible player in the U.S. market. After six years of building a comprehensive crypto ecosystem, the company continues to lead with regulatory compliance. Today, Kyrrex’s achievements include:
- Saint Vincent and the Grenadines: Kyrrex Limited is registered and recognized by the SVG Financial Services Authority, providing a foundation of trust and security;
- Malta: REX, part of the Kyrrex ecosystem, obtained a prestigious VFA Class 4 license in 2021, allowing the platform to offer Virtual Financial Assets (VFA) services while maintaining the highest European regulatory standards;
- United States: Kyrrex is registered with FinCEN as a Money Services Business (MSB) and is available in 10 U.S. states, including California, Massachusetts, and Utah.
Kyrrex ecosystem is also preparing for future regulatory changes by applying for a Class 3 MiCA (Markets in Crypto-Assets) license and an EMI (Electronic Money Institution) license in Malta and the U.K. Also, the company applied for an Investments Services license, which will enable brokerage services from and within Malta. This strategic approach ensures that Kyrrex will continue to offer secure and compliant services across multiple jurisdictions.
“Kyrrex’s entry into the U.S. comes at a critical time as regulations around cryptocurrency continue to evolve. The company’s commitment to regulatory compliance demonstrated through adherence to U.S. state law, positions Kyrrex as a responsible and reliable platform for American users. As part of Kyrrex’s mission, we will continue working closely with U.S. regulators to ensure that our platform remains compliant with the highest regulatory standards.”, stated Mr. Romanenko from Kyrrex.
With plans to expand into more states and enhance its service offerings, Kyrrex is dedicated to reshaping the operations of digital assets by providing users with secure, efficient, and regulated crypto solutions.
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