COUNCIL BLUFFS, IA, Sept. 20, 2016 /CNW/ - Pollard Games, Inc. (dba "American Games"), a wholly owned subsidiary of Pollard Banknote Limited (TSX: PBL), is pleased to announce that, under a new contract, it will supply the Iowa Lottery with 337 new pull-tab vending machines (PTVMs) and related maintenance services. Beginning October 1, 2016, this three-year contract provides the Lottery the option of exercising three, one-year extensions. The contract value, including extensions, is estimated at $3.1 million (USD).
This contract award builds upon a 29-year partnership between American Games and the Iowa Lottery. Since 1987, American Games has produced more than one billion pull-tab tickets for the Lottery and, since 1991, has installed more than 4,000 vending machines in Iowa.
The well-established relationship also goes beyond pull-tab products; Pollard Banknote supplies the Iowa Lottery with instant scratch tickets, including some of the company's patented and specialty products.
"We're thrilled to again be selected as the Iowa Lottery's partner for pull-tab vending machines and related services," said Steven Fingold, President, American Games. "We are very proud of the working relationship we have built with the Iowa Lottery since we began manufacturing their pull-tab tickets nearly 30 years ago. Our vending platform has also come a long way since then and we have the Iowa Lottery to thank for driving many of the enhancements to our vending machines."
"The Lottery is pleased that American Games will continue to supply and service our pull-tab vending machines," said Larry Loss, Executive Vice President of the Iowa Lottery. "American Games is an Iowa-based business that has played an important role in the development of our pull-tab business with entertaining games for players and vending machines that are user friendly for both players and retailers. In addition to products, American Games offers market knowledge that we have been able to leverage to help raise funds for good causes in the state."
American Games' PTVMs are the machines of choice for members of North American Association of State and Provincial Lotteries (NASPL); over the years, American Games has signed vending machine contracts with numerous lotteries throughout the U.S. and Canada. In addition to lotteries, these vending machines can also be found in many charitable gaming markets. Worldwide, the company has supplied more than 15,000 PTVMs that, in turn, have vended billions of secure gaming products.
Since its inception in 1985, the Iowa Lottery has raised more than $1.7 billion for state programs that benefit all Iowans. Today, lottery proceeds are allocated to three main causes: support for veterans and their families through the Iowa Veterans Trust Fund, help for a variety of significant projects through the state General Fund, and backing for the Vision Iowa program, which was implemented to create tourism destinations and community attractions and build and repair schools. In FY2016, pull-tab sales accounted for $15.1 million of the Lottery's total lottery sales of over $366.9 million.
About Pollard Banknote
Pollard Banknote is a leading lottery partner to more than 60 lotteries worldwide, providing high quality instant ticket products, licensed games and strategic marketing and management services for both traditional instant games and the emerging iLottery space of web, mobile and social channels. The company is a proven innovator and has decades of experience helping lotteries to maximize player engagement, sales and proceeds for good causes. Pollard Banknote also plays a major role in the charitable pull-tab and bingo markets in North America. Established in 1907, Pollard Banknote is owned approximately 73.5% by the Pollard family and 26.5% by public shareholders and is publicly traded on the TSX (PBL). For more information, please visit our website at www.pollardbanknote.com.
Certain statements in this press release may constitute "forward-looking" statements and information, which involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. When used in this document, such statements include such words as "may," "will," "expect," "believe," "plan," and other similar terminology. These statements reflect management's current expectations regarding future events and operating performance and speak only as of the date of this document. There should not be an expectation that such information will in all circumstances be updated, supplemented, or revised whether as a result of new information, changing circumstances, future events, or otherwise.
SOURCE Pollard Banknote Limited
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