WINNIPEG, Oct. 24, 2016 /CNW/ - Pollard Banknote Limited (TSX: PBL) ("Pollard Banknote") is pleased to announce an extension to its contract for instant game tickets, game designs, and marketing services with the Massachusetts State Lottery. Under this agreement, Pollard Banknote will continue to provide the Lottery with instant products and related services until October 2017.
Pollard Banknote's relationship with the Massachusetts State Lottery began in 1999. Through the years, the company has worked with the Lottery to help strengthen its instant game portfolio—particularly the development of its Crossword category, which accounted for approximately 14% of the Lottery's instant ticket sales in FY 2016. Pollard Banknote helped the Lottery launch its first $2 Cashword ticket in 2007, and subsequently leveraged its category management expertise to assist in the introduction of $5 and $10 Cashword games in the Massachusetts market. Most recently, Pollard Banknote designed and printed the Lottery's current $5 Crossword game on the market, 20X Cashword.
"Our partnership with Pollard Banknote has contributed to our overall performance as one of the world's most successful lotteries," said Michael Sweeney, Executive Director, Massachusetts State Lottery. "We particularly appreciate their flexible and responsive customer service and the valuable assistance they have offered in building our extended play portfolio. The continued sales growth of our Crossword category has helped us meet our goal of maximizing the net profit that we deliver to the Commonwealth for all cities and towns in Massachusetts."
"Pollard Banknote values this opportunity to continue our long-standing relationship with the Massachusetts State Lottery," said Brad Thompson, Director, Sales & Marketing, Pollard Banknote. "We will continue to work with the Lottery to develop market-specific strategies that will leverage Pollard Banknote's unique and innovative products to foster sales growth in the State."
The Massachusetts State Lottery was established by the legislature in 1971 in response to the need for revenues for the cities and towns of the Commonwealth. Each year, the Massachusetts State Lottery returns money to the Commonwealth to help aid local communities. The Lottery is the Commonwealth's single largest source of unrestricted local aid, returning $989.4 million in net profit to the state in FY 2016.
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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For further information: Doug Pollard, Co-Chief Executive Officer, E-mail: firstname.lastname@example.org; John Pollard, Co-Chief Executive Officer, E-mail: email@example.com; Rob Rose, Chief Financial Officer, E-mail: firstname.lastname@example.org; Pollard Banknote Limited, Telephone: (204) 474-2323