Jim Lightbody has been working in the position at the Crown corporation since his appointment in January 2014.
That's when Michael Graydon left the agency to take a job with PV Hospitality ULC, an affiliate of Paragon Gaming Inc.
A government review on Graydon's severance package found he was in a conflict of interest while negotiating to take the job.
Lightbody has worked for the corporation for the past 14 years, serving as vice-president of lottery gaming, as well as vice-president of casino and community gaming.
Before the lottery corporation, Lightbody worked for companies like Proctor and Gamble, Nabob Foods and BC Hot House.
"The board of directors believes Jim Lightbody is the best person to lead this organization in this time of renewal," said Bud Smith, board chairman, in a release.
"He has demonstrated strong leadership in the last 14 months as interim CEO. That combined with his understanding of the organization, his commitment to innovation and to employee engagement makes him the ideal person to lead the organization going forward."