Former Paddy Power executive becomes CEO of Irish National Lottery operator
Andrew Algeo to become head of Premier Lotteries Ireland in June
Paddy Power’s former managing director of commercial and risk, Andrew Algeo, has been appointed to the position of CEO for Premier Lotteries Ireland (PLI).
Algeo worked for the sportsbook operator for 10 years between 2006 and 2016, before taking up an advisory role with Ryanair, in which he spearheaded a commercial reorientation programme designed to address the Irish airline’s company image.
He is also part of the Irish government’s Effectiveness and Renewal group, which has been advising the Irish Department of Justice on its own reorientation process following a widely publicised series of scandals.
PLI’s chair Padraig Ó Ríordáin said Algeo’s wealth of expertise made him the ideal choice to “lead the National Lottery through the next phase of its development and deliver on our objective of further increasing the amounts we raise for good causes”.
PLI said Algeo had been selected following a rigorous search process and is expected to take up his new role in June. Algeo replaces Dermot Griffin who announced his decision to step down earlier this year.
Speaking about his new role, Algeo highlighted the “substantial” funding which the National Lottery provides to “exemplary causes and their inspirational people, which improves society for all of us”.
In November PLI attacked lottery betting operators in Ireland over claims they were reducing returns to good causes; however, these claims were later dismissed by a European Lotto Betting Association report as being “factually incorrect”.
Premier Lotteries Ireland holds the exclusive licence to operate the National Lottery until the year 2034 and is owned jointly by the Ontario Teachers’ Pension Plan, Irish postal service An Post and An Post Pension Funds.