WINNIPEG, Manitoba, July 22, 2014 /CNW/ – Pollard Banknote Limited (TSX: PBL) (“Pollard Banknote”) is pleased to announce it has been named the new primary supplier of scratcher ticket printing and services for the Virginia Lottery. The five-year contract is set to begin October 28, 2014, and includes provisions to extend the agreement for up to five additional years. The estimated contract value is $20,250,000 (USD) over the first five years.
The Virginia Lottery will benefit from Pollard Banknote’s proven ability to develop unique instant game strategies and concepts. This new contract allows the Lottery to take full advantage of the company’s expansive portfolio of innovative and propriety products, including proven sales-driving play formats like the Pollard PlayBook®, and cutting-edge ticket print enhancements such as Scratch FX® that make tickets stand out in stores. Pollard Banknote also offers a growing range of interactive and technology-enabled products that can both help the Lottery broaden its player base by engaging a wide variety of consumer segments, and optimize instant ticket sales at retail.
“Pollard Banknote is excited for this opportunity to demonstrate our strengths and capabilities to the Virginia Lottery as its new primary supplier of instant ticket printing and services,” said Jennifer Westbury, Executive Vice President, Sales & Customer Development, Pollard Banknote. “We are dedicated to working with the Lottery to develop market-specific strategies that will leverage our unique and innovative products to foster sales growth in Virginia and maximize revenue to support public education within the State.”
“We are pleased to name Pollard Banknote as our new primary scratcher ticket supplier, and look forward to building a strong and collaborative partnership with the company in this new role,” said Paula Otto, Executive Director, Virginia Lottery. “Pollard Banknote’s vision is very much in line with the Virginia Lottery’s—to be an innovative leader in delivering lottery games to the broadest possible consumer base. We are eager to explore every opportunity to create exceptionally entertaining products and services that exceed the expectations of Virginia’s players and retailers, and ultimately benefit all Virginians.”
For nearly three decades, the Virginia Lottery has been producing fun and exciting games for Virginians to enjoy. Since 1999, all Virginia Lottery profits have been used to support public education in the Commonwealth. Last year alone, the Virginia Lottery generated sales totaling nearly $1.7 billion, and contributed more than $486 million to Virginia’s public schools.
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.
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