New contract valued at $3 to $4 million (CDN) annually
WINNIPEG, Oct. 31 /CNW/ - Pollard Banknote is pleased to announce it will
continue to serve as the sole supplier of instant tickets and related services
to Mifal Hapayis, operator of the national lottery franchise in Israel,
following a competitive procurement.
A new contract, set to begin January 1, 2008, has an initial term of two
years. Three additional one-year extensions are at the Lottery's option. The
contract is valued at $3 to $4 million (CDN) annually.
"Pollard Banknote has supplied Mifal Hapayis' instant tickets since 2002,
and the Lottery not only entrusts us to ensure the print fidelity of their own
stunning in-house game designs, but to bring forward a full spectrum of our
instant products that will appeal to Israeli players," said Gordon Pollard,
Co-Chief Executive Officer, Pollard Banknote.
"Mifal Hapayis is always willing to explore new ideas, and Pollard
Banknote looks forward to delivering the products, advice, and support that
will help keep their instant games fresh and compelling over the coming
Pollard Banknote has supplied more than 150 games to Mifal Hapayis,
including patented Fusion(R) products, die cut, scented, and multiscene games,
and special tickets that celebrate unique aspects of Israel's culture.
"We expect the next five years with Pollard Banknote to be as wonderful
as the past five," said Mr. Shimon Katznelson, the Chairman of Mifal Hapayis.
"The company is an outstanding partner for Mifal Hapayis, and together we will
achieve all of our marketing and sales goals."
Mifal Hapayis' sales of instant games have increased 9% since 2002. Sales
of instant games in 2006 totaled 900 million Israeli New Shekels (ILS), or
approximately $238 million (CDN). Mifal Hapayis forecasts that 2007 sales of
instant games will be approximately one billions ILS.
Established in 1951, Mifal Hapayis is jointly owned by and under the
control of Israeli local authorities, and operates the national lottery under
a permit from the Israeli Ministry of Finance. Lottery proceeds fund
About Pollard Banknote Limited Partnership
Pollard Banknote Limited Partnership ("Pollard Banknote") is one of the
world's leading full-service lottery vendors and is a major supplier to North
America's charitable gaming industry. The firm manufactures instant tickets
and provides related programming, design, and marketing support. As well,
Pollard Banknote manufactures ticket vending machines, pull tab tickets and
bingo paper, and supplies lottery management services (including warehousing
and distribution). Established in 1907, the firm is owned by the Pollard
family and the Pollard Banknote Income Fund and currently serves more than
45 lotteries worldwide, including some of the largest and most respected
lotteries in the United States, Canada, Europe, Asia, and Central and South
About Pollard Banknote Income Fund
Pollard Banknote Income Fund (TSX: PBL.UN) is an unincorporated, open-end
trust which owns 26.7% of Pollard Holdings Limited Partnership, which in turn
owns Pollard Banknote Limited Partnership.
This press release may contain forward-looking statements relating to
expected future events and financial and operating results of the Pollard
Banknote Income Fund ("the Fund") or Pollard Holdings Limited Partnership that
involve risks and uncertainties. Actual results may differ materially from
management expectations as projected in such forward-looking statements for a
variety of reasons, including market and general economic conditions and the
risks and uncertainties detailed from time to time in the Fund's periodic
reports and registration statements filed with the Canadian securities
regulatory authorities. Due to the potential impact of these factors, the Fund
disclaims any intention or obligation to update or revise any forward-looking
statements whether as a result of new information, future events or otherwise,
unless required by applicable law.
For further information:
For further information: Gordon Pollard (firstname.lastname@example.org) or John
Pollard (email@example.com), Co-Chief Executive Officers, Phone: (204) 474-2323,