WINNIPEG, May 17, 2016 /CNW/ - Pollard Banknote Limited (TSX: PBL) ("Pollard Banknote") is pleased to announce a one-year extension to its contract for instant ticket printing services with the Vermont Lottery Commission ("Vermont Lottery"). The initial three-year contract provided the opportunity for two one-year extensions, and the Lottery has awarded the first of the two possible one-year extensions. Under this agreement, Pollard Banknote will continue to provide the Lottery with instant ticket printing, marketing support, and related services until at least January 15, 2018.
Pollard Banknote was named primary instant ticket supplier to the Vermont Lottery in July 2014. This partnership has already proven successful, with FY 2015 sales up an impressive 12.4% over FY 2014. In addition, the Lottery has moved up five positions in U.S. per capita sales since the initial contract began, and is fast approaching the top ten with its current rank of number twelve in the U.S. This success is due in part to Pollard Banknote assisting the Lottery with prize structure improvements and play enhancements, as well as the launch of a new second chance website and exciting licensed brands like the $5 Frogger ticket. A successful mix of game offerings has also contributed to the increase in overall instant ticket sales, including $3 Cashword!, $5 Big Bills, and $5 20x Lucky.
Over the course of the contract, Pollard Banknote will continue to offer the Lottery strategic product and marketing recommendations, including the introduction of new games and price points. For example, the Lottery will leverage the success of Frogger by launching another classic arcade game brand, Tetris®, in the fall of 2016. Furthermore, to mark the introduction of Cashword at the $5 price point, the Lottery launched a WebPlay® Cashword app alongside the new ticket that was released in March 2016. The WebPlay® Cashword app extends the life of the instant ticket by allowing players to continue to play the Cashword game online for prizes or for fun. Pollard Banknote developed the play mechanics and layout of the app based on the expertise we have gained from our experience launching successful apps for several other lotteries throughout the U.S.
Greg Smith, Executive Director, Vermont Lottery, said, "Through our partnership with Pollard Banknote, the Lottery has successfully introduced many new games at various price points, as well as the exciting new second chance website that launched in October 2015, and has already enhanced player engagement. We are pleased that the extension to our existing contract will allow us to continue leveraging Pollard Banknote's industry-leading product innovations and strategic recommendations."
"Our newly established relationship with the Vermont Lottery has delivered immediate results due to a mutual focus on growing sales through innovation, research, analysis, and implementation of winning strategies," said Byron Peterson, Director, Sales & Marketing, Pollard Banknote. "The Lottery is open to exploring new products and ideas in the industry, which allows them to introduce innovative offerings such as WebPlay® in order to maximize instant ticket revenue. We are excited to build on this partnership throughout the extended contract term, offering a full range of products and services that will ultimately provide proceeds for The Vermont Education Fund."
Since the sale of its first ticket in February of 1978, the Vermont Lottery has produced over $1.6 billion in overall sales. From those sales, over $1 billion has been returned to players in the form of prizes. Over $91 million has gone back into the local communities as payment to local agents in the form of commissions. Since 1999, over $430 million has gone to the State of Vermont Education Fund. For more information about the Lottery, please visit www.vtlottery.com.
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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For further information: Doug Pollard, Co-Chief Executive Officer, Telephone: (204) 474-2323, E-mail: firstname.lastname@example.org; John Pollard, Co-Chief Executive Officer, Telephone: (204) 474-2323, E-mail: email@example.com; Rob Rose, Chief Financial Officer, Telephone: (204) 474-2323, E-mail: firstname.lastname@example.org