WINNIPEG, Manitoba, January 22, 2014 /CNW/ – Pollard Banknote Limited (TSX: PBL) (Pollard Banknote) is pleased to announce that it has been named the primary supplier of instant ticket printing services for the Vermont Lottery Commission (“Vermont Lottery”). Under this new agreement, Pollard Banknote will provide the Vermont Lottery with instant scratch tickets, game design, and related services. The three-year contract began January 15, 2014 and includes provisions for two additional one-year extensions. The estimated contract value is $6.3 million (USD) over the first three years.
This contract award marks Pollard Banknote’s first opportunity to work with the Vermont Lottery. This new partnership allows the Lottery to take full advantage of Pollard Banknote’s creative game concepts and designs that feature unequalled playability, expertise in creating sales-driving prize structures, as well as a number of innovative and propriety products, including the company’s extraordinarily successful, Pollard PlayBook® concept and Scratch FX® games.
“We are thrilled that the Vermont Lottery has chosen Pollard Banknote as its primary instant ticket supplier,” said Doug Pollard, Co-Chief Executive Officer, Pollard Banknote. “This is a great opportunity for our company to establish a collaborative and successful relationship with the Vermont Lottery, where we can combine our respective visions to introduce new and exciting products to its instant ticket portfolio that are sure to resonate with lottery players in Vermont.”
“We are looking forward to working with Pollard Banknote as our new primary supplier of instant scratch tickets,” says Greg Smith, Executive Director, Vermont Lottery. “Pollard Banknote has a reputation for providing some of the finest instant lottery products in the industry, as well as an unsurpassed commitment to gaming integrity and security. We are confident that this new partnership will help maximize the revenue generated from the sale of instant tickets for the benefit of all Vermonters.”
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 and has been paid to local Lottery agents in the form of commissions. Since 1999, over $280 million has gone to the State of Vermont Education Fund.
About Pollard Banknote Limited
Pollard Banknote Limited 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.
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