WINNIPEG, Oct. 9, 2014 /CNW/ - Pollard Banknote Limited (TSX: PBL) (Pollard Banknote) is proud to be a contributing partner in the success enjoyed by the Michigan Lottery's $10 Cashword game, $500,000 Cashword. Launched in March 2014, this addition to the Lottery's Cashword lineup joins the popular $2, $3 and $5 price points, which have become mainstays in the Michigan market. After 28 weeks on the market, $500,000 Cashword has contributed to an incredible 42% growth in sales of the Cashword category over the previous 28-week period with very little, if any, cannibalization of the current core Cashword games. The $10 category is providing significant incremental sales!
Building upon the Michigan Lottery's highly successful $2, $3, and $5 Cashword games, $500,000 Cashword provides added value to Michigan players by employing Pollard Banknote's patent-pending Play Around™ Fold-Over innovation. Play Around™ Fold-Over games add a new twist to extended play game categories by adding an additional play area on the ticket back. $500,000 Cashword gives players three play areas, versus two play areas on the $3 and $5 tickets and one on the $2 ticket. The game allows players to fold the ticket upwards in order to match the call letters on the ticket front with the bonus play area on the back. The $10 Cashword game also brings a whole new level of excitement with two top prizes of $500,000.
In addition to the added play value of the ticket, $500,000 Cashword also features a new iteration of the Lottery's interactive Cashword game—Cashword Buried Treasure. Like the Michigan Lottery's $3 and $5 Cashword games, non-winning $500,000 Cashword tickets can be entered on the Cashword website or mobile app to gain eligibility for second chance prizes of instant game free play coupons or Players Club reward points. Cashword Buried Treasure offers higher valued prizes than the versions tied to the $3 and $5 game and gives players bonuses for treasure-related words.
"Pollard Banknote is pleased to partner with the Michigan Lottery to add this $10 price point and updated mobile app to their already successful Cashword family," noted Doug Pollard, Co-Chief Executive Officer. "$500,000 Cashword exemplifies our expertise in expanding a core game family as well as our commitment to both paper and paperless innovation in the instant ticket sector."
"Given the success of our $3 and $5 Cashword, and the strength of higher price points in Michigan, we decided to add the $10 game to our Cashword family," explained Jeff Holyfield, Director of Public Relations, Michigan Lottery. "Cashword is the highest selling instant category in Michigan. The new $10 price point has contributed to the excellent instant sales results that we've seen over the past year—an increase of nearly 10% compared to 2013."
Pollard Banknote and its predecessor companies have been the primary instant ticket supplier to the Michigan Lottery since 1986. In fiscal year 2013, the Michigan Lottery provided $734.3 million to the State School Aid Fund. Established in 1972, the mission of the Michigan Lottery is to support State education programs with the highest integrity. It accomplishes this by providing highly entertaining products through a dynamic public business enterprise built upon honesty, customer satisfaction, and teamwork.
About Pollard Banknote
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 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: Doug Pollard, Co-Chief Executive Officer, Telephone: (204) 474-2323, E-mail: [email protected]; John Pollard, Co-Chief Executive Officer, Telephone: (204) 474-2323, E-mail: [email protected]; Rob Rose, Chief Financial Officer, Telephone: (204) 474-2323, E-mail: [email protected]