WINNIPEG, Jan. 13, 2015 /CNW/ - Pollard Banknote Limited (TSX: PBL) is pleased to congratulate the Michigan Lottery on its third consecutive year of record-breaking instant ticket sales. For FY 2014, the Lottery's instant ticket sales reached $914,000,000—an increase of almost 11% over the previous year, far exceeding the average U.S. lottery instant sales growth by almost threefold over the same time period.
The Lottery's success can be attributed to a number of factors, including leveraging Pollard Banknote's sales-driving portfolio of instant ticket product innovations and growing its range of technology-enabled products that extend the life of traditional instant tickets. In February 2014, the Lottery introduced its $30 instant ticket price point with the launch of $2,000,000 CA$H—a ticket that featured the sparkle and shine of Pollard Banknote's patented Scratch FX®. Offering premium instant games at a higher price point proved to be a valuable strategy for the Michigan Lottery, as $30 instant ticket sales accounted for more than 9% of total instant sales in FY 2014. Furthermore, Diamond 7's, another Scratch FX® product, and $500,000 Cashword—a Pollard Banknote Play Around™ Fold-Over game—were the two highest-selling $10 games in FY 2014, and helped to increase sales of the $10 price point by 33% over the previous year.
"As a valued client for almost three decades now, the Michigan Lottery has consistently demonstrated its dedication to offering players the most cutting-edge instant tickets in the industry—a commitment that has resulted in incredible incremental sales growth that ultimately benefits education in the State of Michigan" says Jennifer Westbury, Executive Vice President, Sales & Customer Development, Pollard Banknote. "Innovative products, like Scratch FX® and Play Around™ Fold-Over games, provide maximum impact at retail, while the addition of interactive elements, like Pollard Banknote's WebPlay® products that have proven very successful in Michigan, keep traditional instant games fresh and appealing to a younger demographic. Even as the Lottery expands into digital sales channels with the launch of its iLottery platform, provided by NeoPollard Interactive; a Pollard Banknote and NeoGames company, sales of instant products at retail have continued to grow, supporting the fact that digital sales channels support traditional sales channels."
Pollard Banknote and its predecessor companies have been the primary instant ticket supplier to the Michigan Lottery since 1986. The Lottery's mission is to maximize net revenues to supplement state education programs with the highest integrity. The Michigan Lottery reported annual sales close to $2.6 billion in fiscal 2014, and generated over $736 million in net revenue for the state's School Aid Fund, which supports public education programs throughout the state. Since its inception in 1972, the Michigan Lottery's total contributions to schooling have grown to exceed $18 billion.
About Pollard Banknote
Pollard Banknote is a leading lottery partner to more than 50 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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