WINNIPEG, Oct. 17, 2016 /CNW/ - Pollard Banknote Limited (TSX: PBL) ("Pollard Banknote") would like to congratulate the Virginia Lottery on another year of record-breaking sales, closing out FY 2016 with more than $1.1 billion in instant Scratcher sales (all figures in USD). FY 2016 sales were an impressive 8.1% increase over FY 2015—a year in which the Lottery made history by selling more than $1 billion in Scratcher tickets for the first time in a single fiscal year.
One contributor to the Virginia Lottery's record-breaking success is the growth of its $3 price point, in particular the strength of its $3 Crossword games. Since FY 2014, sales of the Lottery's $3 games have increased by an outstanding 27%. In addition, the Virginia Lottery continues to enhance its core offerings and create new and innovative products that engage players with unique play concepts and value propositions, as seen with its $1,000 Frenzy ticket. This $10 game, featuring a lower top prize of $1,000, focused on offering an increased number of meaningful wins for players.
"Pollard Banknote commends the Virginia Lottery on the successful efforts and initiatives put forward to improve core games, leverage innovative products and introduce new play formats, and applauds the Lottery's hard work and dedication in reaching record sales. The Lottery has developed a truly exciting portfolio of games for players in Virginia, and continues to identify player trends and unique opportunities to bring the very best games to the market", said Byron Peterson, Director, Sales & Marketing, Pollard Banknote. "As the Lottery's primary supplier of instant Scratcher tickets, we pride ourselves on being a value-add partner that the Lottery can rely upon to provide strategic support and industry proven tactics to drive sales and to incorporate new, innovative products to their game portfolio."
"We are extremely pleased with the impressive growth over FY 2015 in our instant Scratcher sales," said Paula Otto, Executive Director of the Virginia Lottery. "We work diligently to bring our players the best instant games that the industry has to offer in order to maximize proceeds that ultimately benefit education in the Commonwealth of Virginia. We look forward to continuing to work with Pollard Banknote to explore new ideas and new initiatives in the years to come."
About Virginia Lottery
Since 1988, the Virginia Lottery has been producing fun and exciting games for Virginians to enjoy. With every game purchase, sales increase and more profits can be turned over to the Commonwealth. Since 1999, 100% of the Lottery's profits support Virginia public education, K-12. For more information, pleasevisit www.valottery.com.
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: email@example.com; John Pollard, Co-Chief Executive Officer, E-mail: firstname.lastname@example.org; Rob Rose, Chief Financial Officer, Pollard Banknote Limited, Telephone: (204) 474-2323, E-mail: email@example.com