When you mention anything related to gambling in the District of Columbia, you can’t blame Frank Suarez for moving on after less than three years as executive director of the D.C. Office of Lottery and Gaming (OLG).
When it came to the sports betting part, things were dicey in D.C. And truth be told, the Connecticut Lottery Corporation (CLC) has had a few problems of its own, and that happens to be where Suarez is off to. Maybe that explains why the CLC zeroed in on Suarez after 11 months to become president and CEO, succeeding Greg Smith who intended to retire in 2024.
The CLC rakes in $400 million in annual profits for the state.
Still, Connecticut struggled with a new point-of-sales system. The struggles left patrons with winning tickets that were erroneously invalidated.
Rush Street Interactive, which ran the online sportsbook, ended its association with the lottery in March 2023. In an earnings call, RSI acknowledged insufficient earnings to carry an “appropriate return on investment.” Fanatics Betting & Gaming took over in December.
“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,” Suarez said in a press release. “Our focus will be on maximizing revenue for the state while maintaining the highest standards of integrity and responsible gaming.”
In a statement, the agency attributed a D.C. comeback to Suarez. “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 D.C. Lottery sportsbook as the largest in the District,” the CLC said.
The agency also showered their incoming CEO for “conversion to a new mobile and online sports betting platform, resulting in an astounding 887 percent growth in gross gaming revenue within the first 30 days of operation,” GamBetDC with FanDuel.
Robert Simmelkjaer, board chair of the CLC, said that Suarez brings “exceptional leadership skills, extensive industry experience” and a “visionary approach” that “make him the perfect choice to guide our company into the next phase of growth and innovation.”
Suarez’ resume includes stops as deputy executive director in charge of brand management and communications at the North Carolina Education Lottery and positions in marketing and brand management in the consumer food and restaurant industries. He holds a bachelor’s degree in business administration from the University of North Carolina and an MBA from the University of Virginia.
In related D.C. news, FanDuel has threatened to call it quits as the lone sportsbook in the capital in response to efforts by lawmakers to open the market to more operators. FanDuel President Christian Genetski wrote a letter to city council chairman Phil Mendelson, warning that expanding the marketplace for other mobile operators could result in FanDuel’s exit.
The 2025 budget unveils a Class C license which permits a sportsbook to partner with one of the pro sports teams and offer district-wide mobile access.
As the law currently reads, the OLG controls online betting, with FanDuel the only permitted operator within the district. The two retail locations operated by BetMGM and Caesars Sportsbook include limited mobile betting inside an exclusion zone.
D.C. Mayor Muriel Bowser has yet to approve the 2025 budget, which faces opposition related to tax implications. However, if approved, it would open up the city’s sports betting market. Both BetMGM and Caesars Sportsbook could offer their platforms citywide, and new operators could apply for D.C. sports betting licenses.
Should FanDuel pull out of its partnership with OLG, the company could still seek a Class C license and partner with a local sports team.
The OLG’s digital monopoly dates back to the legalization of sports betting in 2019. The agency selected Intralot which offered digital betting through a platform called GamBetDC. It would be kind to say GamBetDC did not meet projections and earlier this year, Intralot scrapped the company and subcontracted with FanDuel, which set records in both handle and revenue.
