WINNIPEG, April 1, 2019 /CNW/ - Pollard Banknote Limited (TSX: PBL) ("Pollard Banknote") congratulates the Michigan Lottery on its record-breaking $941.3 million contribution to its beneficiary, public education, in Fiscal Year 2018. Instant games were a major factor in the Lottery's success, driving sales and helping to boost its contribution to the state's School Aid Fund.
The Lottery achieved record sales last year of nearly $3.6 billion, which largely can be attributed to a significant 12.6% increase in instant game sales. The Michigan Lottery is the only U.S. lottery to achieve double-digit annual instant sales growth for the past five consecutive years, and is on track for another outstanding year, with Fiscal Year 2019 year-to-date instant game sales up 15% compared to the similar period for Fiscal Year 2018, which ended Sept. 30, 2018.
Since 1996, Pollard Banknote has been helping the Michigan Lottery with strategic planning on a variety of instant game initiatives, from market research to retail strategy, and the introduction of innovative products. Among the contributors to the Lottery's success over the past year is Pollard Banknote's patented Scratch FX®, which adds a premium shine to instant game tickets. In Fiscal Year 2018, the Michigan Lottery used Scratch FX® on more than 20 instant games, including the Tax Free family of tickets offered at $1, $2, $5, and $10 price points.
The Lottery also experienced success with Pollard Banknote's Winning Combinations™, which pairs Scratch FX® and neon ink for even greater visual appeal. Even with five prior game launches at the same price point, the $150,000,000 Payout ticket, which features Winning Combinations™, achieved 20% higher sales than the Lottery's average $30 game since 2015 (based on 10-week sales).
These innovations were also used to reinvigorate some of the Lottery's base games, such as Cashword and Wild Time. This included the Lottery's $5 and $10 Wild Time games, and the $20 Super Bonus Cashword ticket, which was produced in an oversized format with Scratch FX®.
"We have enjoyed a great relationship with the Michigan Lottery for over 20 years," said Donna Preziotti, Director, Sales & Marketing, Pollard Banknote. "The Michigan Lottery does an excellent job of keeping players excited with a variety of offerings in its instant ticket portfolio, and we are excited for the opportunity to continue helping the Lottery introduce new strategies and products to promote continued growth."
"The recent record-breaking years have been an exciting time for the Lottery," said Glenn Strong, Deputy Commissioner of Games and Marketing, Michigan Lottery. "We are always looking for new ways to drive instant sales, so we are celebrating our success, but also looking forward to discovering new ways to increase the Lottery's contributions to the School Aid Fund in coming years."
About the Michigan Lottery
Since it was established in 1972, the mission of the Michigan Lottery has been to maximize revenue to support public schools by providing fun and entertaining games of chance. The Lottery contributed a record $941.3 million to its beneficiary, the School Aid Fund, in the recently ended Fiscal Year 2018. This was the Lottery's fourth consecutive record contribution, topping the previous record of $924.1 million set in the 2017 fiscal year. Since its inception, the Michigan Lottery has provided more than $22 billion to support public education. To learn more, visit www.michiganlottery.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, Schafer Systems retail merchandising solutions, and a full suite of digital offerings, ranging from game apps to comprehensive player engagement and iLottery solutions, including strategic marketing and management services. 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 provides pull-tab tickets, bingo paper, and its Diamond Game and Oasis-branded electronic ticket machines to charitable and other gaming markets in North America. Established in 1907, Pollard Banknote is owned approximately 67.5% by the Pollard family and 32.5% 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
For further information: Doug Pollard, Co-Chief Executive Officer, E-mail: [email protected]; John Pollard, Co-Chief Executive Officer, E-mail: [email protected]; Rob Rose, Chief Financial Officer, E-mail: [email protected]; Pollard Banknote Limited, Telephone: (204) 474-2323