POLLARD BANKNOTE AWARDED MAIN CONTRACT FOR PRINTING OF SCRATCH GAME BY MINNESOTA LOTTERY
WINNIPEG, MB, August 11, 2022 /PRNewswire/ – Pollard Banknote Limited (TSX: PBL) (“Pollard Banknote” or the “Company”) is pleased to announce that following a competitive procurement process, it has been awarded a prime contract from the Minnesota State Lottery (“Minnesota Lottery” or “Lottery”) to provide scratch card printing and related services. Under this agreement, Pollard Banknote will supply at least 70% of the Lottery’s scratch games per contract year. The initial term of the contract began on July 1, 2022 and is for four years with the possibility of extension for another two years. The estimated value of the contract, including all available extensions, is approximately 28 million US dollars.
The new contract extends the longstanding and successful partnership between Pollard Banknote and the Minnesota Lottery, which provides a solid foundation on which to develop effective products and strategies that continuously drive sales, expand the lottery’s player base and maximize profits for good causes. Since the first partnership with Pollard Banknote in 2007, sales of scratch cards in Minnesota increased by 136%. More recently, in fiscal year 2021, Lottery game sales totaled slightly more $615.6 millionan augmentation of $92.6 million of the previous year, generating more than $188 million in returns for the State—the highest ever recorded in the history of the Lottery!
As the Lottery’s premier scratch partner, Pollard Banknote will continue to play a vital role in supporting the Lottery with exceptional games and effective retail solutions that attract and engage players. The majority of Minnesota Lottery scratch games, including its most successful games, are printed by Pollard Banknote and many take advantage of cutting-edge printing innovations, such as Scratch FX®, which has added shine and brilliance at the lottery games. 30e Anniversary and Full $500 Holiday Edition tickets, both of which sold exceptionally well.
“We are delighted to extend our strong partnership with Pollard Banknote,” said Adam Prok, Executive Director, Minnesota Lottery. “Throughout our collaboration, the company’s expertise has helped us maximize revenue in support of programs that benefit all Minnesotans. We are excited that this agreement allows us to continue to collaborate and to offer attractive scratch games to our players.”
“We are delighted that the Minnesota Lottery has once again chosen us as their premier partner for scratch games and related services,” said Byron Peterson, Senior Director, Sales and Marketing, Pollard Banknote. “Having been the Lottery’s premier scratch card partner for over a decade, we have worked to provide players across Minnesota with the best scratch games and retail initiatives that drive engagement and growth. We are excited to continue our partnership with the lottery to deliver exciting products that create memorable experiences, benefiting residents across the state. »
For more than 30 years, the Minnesota Lottery has been dedicated to raising funds for programs that positively impact the lives of Minnesotans, including education, public safety, health and social services. Since its creation, the Lottery has brought in more than $3 billion in the state with more $1.2 billion move towards preservation, protection and restoration from minnesota environment. For more information, please visit www.mnlottery.com.
About the Pollard ticket
Pollard Banknote is a leading lottery partner for over 60 lotteries worldwide, providing high-quality instant ticket products, licensed games, in-line ticket options and merchandising solutions driving sales from of its Schafer Retail Solutions + portfolio. It also offers a full suite of digital offerings, ranging from world-class gaming 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 maximize player engagement, sales and revenue for worthy causes. Pollard Banknote also provides break open tickets, bingo paper, ATMs and its diamond game and Compliant Gaming games and electronics to charitable and other gaming markets in North America. Founded in 1907, Pollard Banknote is owned approximately 64.3% by the Pollard family and 35.7% by public shareholders, and is listed on the Toronto Stock Exchange (PBL). For more information, please visit our website at www.pollardbanknote.com.
Certain statements contained in this press release may constitute “forward-looking” statements and information, which involve known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements to differ materially. results, performance, or achievements expressed or implied by such forward-looking statements. When used in this document, these statements include words such as “may”, “will”, “expect”, “believe”, “plan”, and other similar terms. These statements reflect management’s current expectations regarding future events and operating performance and speak only as of the date of this document. It should not be expected that this information will under any circumstances be updated, supplemented or revised, whether as a result of new information, changed circumstances, future events or otherwise.
SOURCE Pollard Banknote Limited