16 PUBLIC GAMING INTERNATIONAL • JULY/AUGUST 2026 As lotteries confront disruptive technologies, expanding gaming competition, evolving regulation, and the expectations of digital native consumers, the industry faces a defining question: how should lottery evolve while preserving its identity and public trust? Do faster play, higher payouts, and more immersive experiences strengthen competitiveness or challenge the traditional values of integrity and player protection? As lottery emerges from a monopoly era into a marketplace defined by choice, this session explores how operators are redefining the player experience to remain relevant and thrive in 2026 and beyond. Moderator: Khalid Jones, Executive Director, Virginia Lottery and Lead of the Mega Millions Consortium Panelists: Blake Goldman, Vice President Business Development, Intralot, Inc. Rhydian Fisher, Chief Executive Officer, Instant Win Gaming (IWG) Brooks Pierce, President & Chief Executive Officer, Inspired Entertainment Paul Riley, Vice President of Retail Innovation & Partnerships, Brightstar Lottery Competing in a Fragmented Market Without Losing the Plot The lottery industry has always lived with a quiet contradiction. It is at once one of the most stable institutions in gaming and one of the most exposed to disruption. For decades, that contradiction resolved in lottery’s favor, as new forms of gaming emerged, competition expanded, and yet lottery continued to grow—steady, resilient, and culturally embedded in everyday life. But the numbers now tell a more complicated story. Moderator Khalid Jones: “Let’s start with context. In 1992, at the launch of Powerball—what I think of as the beginning of the modern lottery—lottery held about 70% of the legal gaming market. Today, that number is closer to 26%. What’s important, though, is that while share has declined, sales have continued to grow. That tells us something critical: this industry has faced disruption before—and adapted.” As the market has expanded, lottery is no longer operating in a protected ecosystem but in a marketplace defined by abundance, choice, and constant stimulation. That shift framed the central question posed by Khalid Jones: what does it mean to be a lottery in 2026 and beyond? The answers revealed both confidence and uncertainty, and a growing recognition that the industry’s future depends on the choices its leaders make now and in the coming months and years. The instinct in moments like this is often to look outward at trends, towards what appears to be working elsewhere, and adjust to the actions of competitors. What emerged from this discussion is that we also want to look inward, reflect on our strengths and identity in order to define what is essential, what is adaptable, and what should not be compromised. That tension between embedded brand identity and progressive evolution sits at the center of the strategic decisions the industry now faces. Too Big to Fail? Or Too Slow to Win? Jones opened with a deceptively simple provocation: is lottery too big to fail? For Rhydian Fisher, the answer was both reassuring and cautionary. “No one is too big to fail. Lottery certainly won’t disappear, but it can absolutely decline if we make the wrong choices.” He pointed to a fundamental strategic trap: trying to compete directly with iCasino, sports betting, or other forms of gaming that PANEL DISCUSSION This article is based on a panel discussion held at PGRI Smart-Tech Ft Lauderdale on March 11, 2026 Rhydian Fisher, Khalid Jones, Paul Riley, Brooks Pierce and Blake Goldman What does it mean to be a “Lottery” in 2026 and beyond?
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