WINNIPEG, Feb. 28, 2018 /CNW/ - Pollard Banknote Limited (TSX: PBL) ("Pollard Banknote") is pleased to announce that it has received a 10-year contract extension from the Western Canada Lottery Corporation ("WCLC") for the production of instant lottery tickets and provision of related services. The extension will come into effect on April 29, 2018, lengthening the total duration of the agreement to 15 years. Based on average annual sales, this extension will increase the estimated value of the entire contract to more than $130 million.
For more than 30 years, WCLC and Pollard Banknote's collaborative approach to production, research, and marketing has provided players with exciting, high-quality instant tickets and driven sales success for WCLC's provincial and territorial members.
WCLC became Pollard Banknote's first lottery client in 1985, when the company transitioned to developing and printing instant games. Over the history of this partnership, the Lottery has embraced many of Pollard Banknote's instant ticket innovations with great market success. WCLC was the first lottery to introduce some of Pollard Banknote's earlier innovative products, including its pioneering translucent marking system, which has become the industry best for crossword and bingo games, as well as game pouches, and scented, die cut, and holographic tickets. The Lottery has also been quick to adopt more recent innovations, such as Pollard Banknote's patented Scratch FX® products.
"Our long-standing partnership with Pollard Banknote has helped us maintain a high degree of integrity and security for the provincial and territorial lottery organizations in Western Canada. At the same time, we know we can count on Pollard Banknote to continually introduce ticket innovations that keep players engaged and excited about our instant game portfolio," said David Loeb, President, Western Canada Lottery Corporation.
"Pollard Banknote is exceedingly proud of our long-term relationship with WCLC. We look forward to continuing to help WCLC introduce innovative products and services that exceed their customers' expectations," said Doug Pollard, Co-Chief Executive Officer, Pollard Banknote. "We are thrilled to be able to play a role in assisting the WCLC and its lottery organizations and the good causes they support."
Pollard Banknote has a strong presence in the jurisdictions served by WCLC with its Winnipeg, Manitoba and Barrhead, Alberta facilities achieving record employment levels. Over the past 25 years, the number of people employed at these two facilities has grown fivefold, rising from approximately 175 people in 1993 to more than 850 employees today. These facilities have helped to fuel the provincial economies by creating jobs, improving labour income, and supporting government revenue generation.
WCLC is a non-profit organization authorized to manage, conduct, and operate lottery and gaming-related activities as an agent for its members, the governments of Alberta, Saskatchewan, and Manitoba, and associate members, the Yukon Territory, Northwest Territories, and Nunavut. WCLC is a Regional Marketing Organization of the Interprovincial Lottery Corporation, which is incorporated and authorized to manage and conduct national lotteries in Canada. Through its activities, WCLC supports the efforts of its Members to raise funds that benefit thousands of good causes, ranging from education and sport to innovation and health care. The causes supported by lottery revenues contribute to active, healthy, and culturally-enriched lifestyles for people of all ages and abilities in Western Canada and the Territories.
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: firstname.lastname@example.org; John Pollard, Co-Chief Executive Officer, E-mail: email@example.com; Rob Rose, Chief Financial Officer, E-mail: firstname.lastname@example.org, Pollard Banknote Limited, Telephone: (204) 474-2323