Lawrence DiMatteo has stepped down as the chief executive officer of Lottery.com after almost a decade in the position. His departure follows the leave of Matthew Clemenson, the company’s chief revenue officer.
DiMatteo Led the Company for Years
DiMatteo was named CEO of Lottery.com in 2015 and has since headed one of the largest lottery brokers and news outlets in the United States. Having previously served as the co-founder and CEO of Glimpsable, a mobile app, DiMatteo brought important experience to the company.
In addition, he co-founded WinTogether, an app that has been integrated into Lottery.com’s business. Through WinTogether.org, Lottery.com is “fundamentally changing how non-profit donors are incentivized to action”, according to the broker’s description. WinTogether also helps Lottery.com run various community and philanthropic initiatives.
After years of contributions, DiMatteo handed his notice of resignation five days ago. According to Lottery.com, the executive officially stepped down from the position on July 22.
While DiMatteo will no longer lead Lottery.com, he will not be parting ways with the company. Instead, the now ex-CEO will remain as a senior advisor to the company’s board of directors. This way, he will be able to keep helping the company.
DiMatteo Resigned In the Wake of Turbulent Events
DiMatteo’s resignation may be the result of the current turbulent events among the company’s executives. Notably, recent reveals showed a certain high-profile Lottery.com executive broke several rules. The company’s board found out that Ryan Dickinson, the previous president, treasurer and chief financial officer, didn’t comply with certain state and federal laws concerning the state in which tickets are procured.
As a result, Lottery.com parted ways Dickinson, temporarily replacing him with Harry Dhaliwal. The latter will now serve as the broker’s interim CFO. Following that, Lottery.com reevaluated its cash balance and found out that it had overstated its cash holdings by $30 million.
DiMatteo isn’t the only high-ranking executive to leave the company in the wake of the aforementioned reveals. Matthew Clemenson, the company’s chief revenue officer, also left Lottery.com last week.
Lottery.com was founded in 2015. Since then the company has been offering the freshest lottery news and content to enthusiasts across the United States. Moreover, Lottery.com’s online and desktop platforms allow fans to purchase tickets for all legally-sanctioned lotteries in the country. Players can then use the platforms to check their results.
Lottery.com also offers B2B solutions that allow its partners to use LotteryLink to provide Lottery.com products to their customer base.