CLIVE – Iowa Lottery CEO Terry Rich announced that he intends to retire in late 2018 or early 2019.
Rich has led the Iowa Lottery since February 2009 and is just the second person to serve as its CEO since the lottery’s start in 1985.
“Over the past years, I’ve had the privilege of serving three Iowa governors while achieving some significant milestones at the lottery, helping with projects to address some of the state’s biggest challenges, and driving meaningful increases in the vital state proceeds generated by the lottery,” Rich said in a statement. “I’ve done everything I’d hoped to accomplish at the Iowa Lottery. With that success, it’s time to move on.”
Rich said he intends to spend more time with family and friends, as well as pursue other professional opportunities.
“I’ve thoroughly enjoyed providing Iowans with entertainment as CEO of the Iowa Lottery. It has been our pleasure to help design successful games with the highest degree of integrity and accountability,” Rich said. “I’ve been lucky enough to lead the most prominent national lottery organizations, and my signature has appeared on hundreds of millions of lottery tickets – and checks for Iowa’s biggest lottery prizes. I’m announcing my retirement now so that transition plans can be made at the lottery.”
During Rich’s time as CEO of the Iowa Lottery, the Hot Lotto Scandal uncovered fraud against U.S. lotteries that resulted in guilty pleas from three men who admitted they illegally claimed prizes by rigging lottery drawings in five states.
“This case will remain an important reminder to organizations everywhere to keep monitoring and making improvements to stay ahead of those who would try to beat the system,” Rich said. “I’m absolutely proud of the unwavering focus our lottery kept on security and integrity to ensure that our games are fair.”
The Iowa Lottery was named the 2018 winner for an International Gaming-Compliance Award for its work in the case, which spanned seven years.
Prior to Rich becoming the lottery’s CEO in 2009, Dr. Ed Stanek led the organization from its start in 1985 until his retirement in October 2007.
In addition to his career at the lottery, Rich was CEO of Iowa’s Blank Park Zoo in Des Moines; President and CEO of Rich Heritage Inc., a national marketing and television production company based in Des Moines; and Vice President of Marketing for Heritage Communications Inc. in Des Moines.