WINNIPEG, Sept. 10, 2013 /CNW/ - Pollard Banknote Limited (TSX: PBL) ("Pollard Banknote") is pleased to announce that it has been awarded a new four-year contract by the Maryland State Lottery and Gaming Control Agency ("Maryland Lottery") as its Primary Contractor for the supply of instant ticket games and related services. The contract commences September 3, 2013, and includes the option for one additional three-year renewal period. The value of the contract over the four-year term and three-year renewal is estimated to be in excess of $30 million.
With this new contract, Pollard Banknote will continue to be the principal supplier of instant ticket games for the Maryland Lottery—printing at least 75% of the Lottery's total work assigned over the term of the contract. In addition to the production of instant ticket games, Pollard Banknote will assist the Lottery with the overall operation of its instant ticket program by providing on-site management, marketing services, research, and sales analysis.
"We're excited to continue our partnership with the Maryland Lottery and build upon the relationship that has been forged over the past seven years as the Lottery's Primary instant ticket supplier," said Jennifer Westbury, Executive Vice President, Sales & Customer Development. "We will continue to be a key partner to the Maryland Lottery and are committed to bringing the best strategies, innovations, and marketing support required to drive sales and support the Lottery's core mandate of growing lottery revenues in Maryland."
"Continuing our partnership with Pollard Banknote will enable the Maryland Lottery to move forward with ongoing initiatives to attract new players from untapped market segments, retain current players and boost instant ticket sales," said John Martin, Assistant Director, Maryland Lottery. "We look forward to bringing new, innovative products to Maryland players and increasing our revenue contributions to benefit Maryland citizens."
The Maryland Lottery and Gaming Control Agency generates revenue to help support good causes within Maryland. Since its inception in 1973, the Lottery has generated $13.3 billion in revenue to the State and awarded nearly $21 billion in prizes to players. In fiscal year 2013, the Maryland Lottery contributed more than $545.2 million in revenue to the state's General Fund, which supports education, public health, public safety and the environment.
About Pollard Banknote Limited
Pollard Banknote Limited is one of the world's leading full-service lottery vendors and is a major supplier to North America's charitable gaming industry. The company manufactures instant lottery tickets and provides related programming, design, and marketing support. As well, Pollard Banknote manufactures pull-tab tickets and bingo paper, and supplies lottery management services (including warehousing and distribution). Established in 1907, Pollard Banknote is owned approximately 73.5% by the Pollard family and 26.5% by public shareholders and currently serves more than 50 lotteries worldwide, including some of the largest and most respected lotteries in the United States, Canada, Europe, Asia, and Central and South America. 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
For further information:
Chief Financial Officer
Telephone: (204) 474-2323
E-mail: [email protected]