WINNIPEG, Manitoba, April 23, 2014 /CNW/ – Pollard Banknote Limited (TSX: PBL) (Pollard Banknote) is pleased to announce that it has secured a six-year secondary contract to supply instant scratch tickets and related services to Washington’s Lottery—a new lottery client for the company. The award is the result of a competitive procurement process and includes an option to extend the contract for up to four additional years in any number of extensions.
The sale of instant scratch tickets accounted for more than half of the Lottery’s total revenues for fiscal year 2013. Through this new partnership, Pollard Banknote will help the Lottery further increase player engagement by introducing new and innovative products to its customers.
“We are very excited to begin working with Washington’s Lottery for the first time in our company’s history,” said Doug Pollard, Co-Chief Executive Officer, Pollard Banknote, adding that “by securing this new contract, the Lottery demonstrates its confidence in our ability to offer the latest innovations to help maximize proceeds for the wide-ranging education programs it supports. We look forward to helping the Lottery creatively respond to changes in both the lottery industry and the Washington marketplace with exciting leading-edge innovations that have broad appeal.”
About Washington’s Lottery
Created in 1982, Washington’s Lottery was established to generate revenues for state programs through the sale of lottery products, including draw-based and instant games. The Washington Opportunity Pathways Account (WOPA) is the primary beneficiary of the Lottery. In 2013 it received $115.6 million in proceeds to support education programs and scholarships.
About Pollard Banknote
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 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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