The Atlantic Lottery Corporation (ALC) has named Dallas McCready as its new president and CEO to replace the retiring Patrick Daigle.

McCready has served as ALC’s Chief Strategy Officer since 2022 and has more than 20 years of experience in the gaming industry and the public sector, with past roles including working as a deputy minister with the Government of New Brunswick.

As ALC’s chief strategist, he led the development of the organization’s recent five-year strategic plan.

He was selected from a pool of candidates following an extensive board-led international search that considered more than 120 applicants.

“On behalf of the board of directors, we are thrilled that our search identified Dallas as the next president and CEO of Atlantic Lottery,” said Sean O’Connor, chair of Atlantic Lottery’s board of directors. “He brings significant gaming experience and a unique set of skills and experiences that will drive the organization forward at a very exciting time in the industry.

“The fact that we were able to identify the ideal next president and CEO from the internal executive ranks speaks to the strength and depth of the team at Atlantic Lottery.”

“I’m honoured to have earned the confidence of the board and I look forward to the exciting work ahead with the team,” McCready said. “Atlantic Lottery has always punched above its weight. With increasing competition in the sector, we are emerging as a leader in healthy play for our customers while continuing to make a game-changing impact for the people and places of Atlantic Canada.”

ALC profits and sports betting dip, iLottery grows

McCready will be tasked with leading the ALC through 2025 after a mixed 2024.

In its year-end fiscal report for 2023-24 in October, the lottery reported a slight dip in profits despite 17% year-over-year growth in online lottery sales and a 26% rise in iGaming revenue. Daigle said at the time that the drop of 1% or around $5.2 million in total net profit was “expected” and “by design.”

The crown corporation posted gross revenue of $872 million, $28 million more than the previous fiscal year, but posted expenses of $385 million after what Daigle called “a catch-up year” of infrastructure renewals and improvements.

ALC underwhelmed in terms of sports betting performance, with net revenue down 13.4% to $14.8 million, significantly lower than was budgeted for.

Although the impact won’t be seen until next fall’s results, ALC has already taken notable steps in the 2024-25 fiscal year, such as agreeing a deal with IGT to launch cloud-based games and solutions and going live with major studio Evolution’s games for the first time.

The ALC claimed in its report that its online gambling operations hold a 22% market share of total online betting and gaming activity in the Atlantics.