YPSILANTI, MI, May 22 /CNW/ - Pollard Banknote was recently awarded a
secondary contract with the Massachusetts Lottery to supply instant lottery
tickets and related services. The three-year contract is scheduled to commence
in July 2009, with two one-year extensions possible at the Lottery's option.
This latest agreement builds on a relationship that has existed since 1999.
It is anticipated that production volumes will at least equal current
levels, but opportunities to expand the company's business with the
Massachusetts Lottery are being actively pursued. Pollard Banknote's
collaboration with the Lottery broke new ground in 2007, for example, with its
inaugural launch of Cashword, an innovative product line employing the
company's patented translucent marking system. With weekly revenues of $3
million, representing about 5% of instant ticket sales, these games now form
an integral part of the Lottery's strategic plan to offer products capable of
satisfying the demands of a broader player base.
"The Massachusetts Lottery has consistently remained one of the world's
most successful instant ticket jurisdictions," said Gordon Pollard, Co-Chief
Executive Officer, Pollard Banknote. "We are proud that our company has been
given the chance to continue capitalizing on our decade-long relationship with
this industry leader and look forward to introducing products and strategies
that will assist in achieving even greater sales."
The Massachusetts Lottery currently distributes proceeds to local
governments according to an aid formula established by the state's legislative
body. The funds are subsequently dispersed to whatever programs and services
these municipalities judge most in need. In FY 2008, the Lottery's
contribution totaled over $935 million in direct assistance of this
nature-based on revenues that exceeded $4.7 billion.
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, Phone: (204) 474-2323,