Five-year extension valued at an estimated $45 million (CDN)
WINNIPEG, Jan. 14 /CNW/ - Pollard Banknote is pleased to announce that
the Western Canada Lottery Corporation (WCLC) has exercised their option to
extend their contract with the company for five additional years. The
extension - which runs through to April 2013 - is estimated to be
approximately $45 million (CDN).
Pollard Banknote has served as supplier of instant tickets to the WCLC
since 1985. Since the current contract began in April 2003, the Lottery's
instant ticket sales have increased 56 %.
"The WCLC has benefited from a long and successful relationship with
Pollard Banknote," said Brad Wiebe, Marketing Director, WCLC. "Pollard
Banknote continually delivers on high levels of customer service, printing
quality and systems integrity."
In addition to ticket production, Pollard Banknote also provides a number
of related services to the Lottery, including game design, marketing support,
focus group testing, and game-plan development assistance.
"It has been a pleasure working with the WCLC over the years," said
Gordon Pollard, Co-Chief Executive Officer, Pollard Banknote. "We look forward
to continuing to build on the relationship by developing products and
strategies that will help the Lottery achieve even greater sales."
Pollard Banknote currently manufactures tickets for the WCLC in the
firm's Winnipeg, Manitoba and Barrhead, Alberta facilities, which employ
approximately 500 and 90 employees respectively.
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 (email@example.com) or John
Pollard (firstname.lastname@example.org), Co-Chief Executive Officers, Pollard Banknote,
Phone: (204) 474-2323, www.pollardbanknote.com