WINNIPEG, Sept. 24, 2018 /CNW/ – Pollard Banknote Limited (TSX: PBL) ("Pollard Banknote") is pleased to announce a six-year extension to its Instant Ticket Printing and Production Services contract with the Texas Lottery®. Under this agreement, Pollard Banknote will continue to provide the Lottery with instant ticket printing and related services through to August 31, 2024. Based on our most recent level of volumes, the estimated dollar value over the term of this extension is $70-80 million (CDN).
This agreement extends the successful and nearly 20-year partnership between Pollard Banknote and the Texas Lottery. The Lottery's success over the last two fiscal years has been particularly impressive, with instant ticket sales significantly above the U.S. average, which in turn generates additional revenue to go toward good causes within the state, most notably for Education and Veterans' assistance funds. Throughout the relationship, but particularly during this timeframe, Pollard Banknote has supported this growth with the launch of 20 innovative products; products that make us a proud part of the Lottery's continued success. Supporting services including game design, marketing and promotional support and strategic planning have also played key roles in driving sales.
The Texas Lottery has leveraged many of Pollard Banknote's innovative products over the years that have proven successful in engaging Texan players, including the irresistible sparkle and shine of Pollard Banknote's Scratch FX®, most recently featured on the Lottery's CA$H family of games. Eye-catching Neon inks that stand out at retail and the North American debut of Pollard Banknote's patented Flip Scratch™ product have also added variety to the Texas Lottery's outstanding product line-up and contributed to its continued success.
"With a strong focus on collaboration and partnership, combined with industry-leading products and services, Pollard Banknote has proven to be a great asset to the Texas Lottery for almost two decades," said Gary Grief, Executive Director of the Texas Lottery. "We are pleased that this contract extension allows us to continue to build on our history of combined success, allowing us to offer Texans the most exciting and entertaining instant lottery products available."
"We are thrilled to continue our long-standing relationship with the Texas Lottery," said Brad Thompson, Vice President, Sales and Marketing, Pollard Banknote. "We have worked together to launch many innovative and engaging products over the years that have captured the attention of players throughout Texas, and can proudly continue along this mutually beneficial path for all parties involved."
Established in 1992, the Texas Lottery is committed to generating revenue for the state of Texas through the responsible management and sale of entertaining lottery products. Maintaining the highest standards of security and integrity, the Texas Lottery has generated more than $28 billion in revenue for good causes in the state of Texas, including public education, veterans' services, and other important state programs. Overall, the Lottery has contributed $22 billion to the Foundation School Fund and $100 million for veterans programs, with $1.313 billion and $16.2 million contributed to these programs respectively in FY 2017.
About Pollard Banknote
Pollard Banknote is a leading lottery partner to more than 60 lotteries worldwide, providing high quality instant ticket products, licensed games, 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 plays a major role in providing 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 67.6% by the Pollard family and 32.4% 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: r[email protected]; Pollard Banknote Limited, Telephone: (204) 474-2323