WINNIPEG, Manitoba, April 21, 2021 /CNW/ – Pollard Banknote Limited (TSX:PBL) (“Pollard Banknote”) is pleased to announce that it has been awarded a significant long-term contract extension, which underscores the strength of its relationship with the Ontario Lottery and Gaming Corporation (“OLG”). Under this agreement, Pollard Banknote will continue to serve as OLG’s primary INSTANT ticket supplier, providing a full range of products and services through July 31, 2032, with an additional five-year renewal option.
Pollard Banknote has been a trusted partner to OLG since 1987 and has served as its primary supplier for the past 14 years. In 2008, Pollard Banknote opened an INSTANT ticket finishing plant in Sault Ste. Marie, demonstrating its commitment to OLG while supporting economic development in the province of Ontario. From an assurance of 37 full-time staff in the plant’s first year of operations, staffing has increased to 120, and will be further increased to a commitment of 140 full-time staff with this extension. This continuous growth has helped to boost Pollard Banknote’s total finishing capacity in tandem with its increasing ticket production volumes. In 2020, the Sault Ste. Marie plant experienced a record year, packaging 31% more tickets than just five years ago, with these tickets destined for OLG and lotteries around the world.
Since 2007, OLG has reached many milestones in its business, including in its INSTANT ticket category. Over this time, OLG has grown sales of all instant game price points, developed award-winning games, introduced innovative higher priced games, and fostered one of the strongest portfolios of extended play games, such as CROSSWORD and BINGO, in the world. In fiscal year 2020, OLG achieved record-breaking annual INSTANT ticket sales of over $1.4 billion. Pollard Banknote has helped contribute to OLG’s continued sales growth through the development of great INSTANT games that engage Ontario players, while at the same time working closely with the Lottery to ensure that the highest standards of security and quality are maintained.
Significant drivers of this sales growth include OLG’s THE BIG SPIN and THE BIGGER SPIN INSTANT games—printed byPollard Banknote. These games offer three levels of prize reveals: instant wins on the ticket, prize reveals via an animated digital wheel at retail, and top prize amounts disclosed with the spin of a giant wheel at live events. This game has created buzz and excitement in Ontario and in other jurisdictions that have introduced the concept.
“OLG is pleased to be furthering our strong partnership with Pollard Banknote, securing the continuity and sustained growth and development of our INSTANT lottery business. For well over a decade we’ve worked together to find ways to deliver value for money for the people of Ontario while creating world class product for our players,” said Duncan Hannay, President and CEO of OLG. “We’re happy to be working with a partner like Pollard to create employment opportunities in this province. The new positions at the Sault Ste. Marie plant demonstrate our shared commitment to supporting economic recovery in the communities where we operate our businesses.”
“Pollard Banknote is very proud of our long-standing partnership with OLG which has been productive and mutually beneficial. We have worked hard to help OLG increase sales and offer an expanding selection of innovative products and services to meet the players’ evolving preferences,” said Doug Pollard, Co-Chief Executive Officer, Pollard Banknote. “Additionally, we are thrilled that the leadership and hard work of our dedicated staff at our Sault Ste. Marie plant are being rewarded with this contract extension.”
“I am so happy to highlight the collaboration between OLG and Pollard Banknote. As I always say, we work better when we work together,” said Ross Romano, MPP for Sault Ste. Marie. “Partnerships like this are critical to our community’s economic recovery and prosperity. Partnerships such as this are not only bringing more business into our community and growing our economy but are also providing significant employment to Sault Ste. Marie.”
In addition to providing INSTANT tickets and related services directly to OLG, Pollard Banknote, through its family of companies, helps to support local communities and charities in Ontario by supplying Charitable Gaming Centres across the province with break open tickets, bingo paper, and TAP ‘N PLAY cabinet games.
OLG is a crown agency that develops world-class gaming entertainment for the Province of Ontario. Acting in a socially responsible way, OLG conducts and manages land-based gaming facilities; the sale of province-wide lottery games; Internet gaming; and the delivery of bingo and other electronic gaming products at Charitable Gaming Centres. OLG is also helping to build a more sustainable horse racing industry in Ontario. Since 1975, OLG has provided approximately $55 billion to the people and Province of Ontario to support key government priorities like health care; the treatment and prevention of problem gambling; and support for amateur athletes. Each year proceeds from OLG’s operations also support host communities, Ontario First Nations, lottery retailers and local charities across the province.
About Pollard Banknote
Pollard Banknote is a leading lottery partner to more than 60 lotteries worldwide, providing high quality instant ticket products, licensed games, Schafer Systems and Fastrak retail merchandising solutions, and a full suite of digital offerings, ranging from world-class mkodo 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 provides pull-tab tickets, bingo paper, and its Diamond Game and Compliant Gaming electronic games and devices to charitable and other gaming markets in North America. Established in 1907, Pollard Banknote is owned approximately 64.3% by the Pollard family and 35.7% 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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