Pollard Banknote Announces the Acquisition of Pacific Gaming, a Leading Supplier of Electronic Solutions to the Charitable Bingo Market

WINNIPEG, MB, March 24, 2025 /CNW/ - Pollard Banknote Limited ("Pollard Banknote") (TSX: PBL) announced today that it has signed a definitive agreement to purchase ("Acquisition") 100% of the business of Pacific Gaming, LLC and LIF Capital Group, LLC (collectively "Pacific"), a recognized leader in bingo electronics, handhelds, blowers, point-of-sale systems, and bingo management systems.

Pacific will become part of the Pollard Charitable Games Group, joining other industry leaders such as American Games, International Gamco, Diamond Game, and CJ Venne. This acquisition strengthens Pollard's existing product portfolio, which already includes paper pull-tabs, electronic pull-tabs, bingo paper, pull-tab vending machines, video verifiers, and bingo daubers. Pacific's bingo equipment provides an even more comprehensive and integrated range of products to meet the needs of charitable gaming operators.

"We are thrilled about adding the Pacific electronic bingo offerings into our charitable gaming portfolio," said John Pollard, Co-Chief Executive Officer, Pollard Banknote. "As one of the leading providers to the charitable bingo market, the addition of electronic solutions is an important element of providing a comprehensive product offering to existing and new customers. Pacific will be a key addition in helping us remain a leader in this space."

Steven Fingold, Executive Vice President, Charitable Gaming, Pollard Banknote commented, "Pacific has long been a leader in electronic bingo solutions and we're excited to have them join our charitable games group.  This acquisition further highlight's Pollard Banknote's ongoing commitment to the charitable gaming market and our focus on expanding our leadership role through both organic growth and key acquisitions."

The total Acquisition purchase price is $10.0 million U.S. dollars (approximately $14.4 million CDN dollars using an exchange rate of $1.44 CDN dollar per U.S. dollar) prior to standard working capital adjustments.  The purchase price will be funded from existing Pollard Banknote cash resources and availability under our existing senior credit facilities. The Acquisition is expected to be accretive to Pollard Banknote's net income. The Acquisition agreement of Pacific has been signed and expected to close on April 1, 2025 on receipt of standard approvals. The Acquisition is not contingent on any financing.

John Pollard concluded, "This acquisition continues Pollard Banknote's commitment to growing our presence in the important charitable gaming market and strengthening our leadership role as the partner of choice for charities throughout the U.S. and around the world. We are extremely pleased  to have the Pacific team join us, and we look forward to continued success in expanding our reach within the bingo market."

About Pollard Banknote

Pollard Banknote is a leading lottery partner to more than 60 lotteries worldwide, providing high-quality instant ticket products, licensed games, in-lane ticket options, and sales-driving merchandising solutions from its Schafer Retail Solutions + portfolio. It also offers a full suite of digital offerings, ranging from world-class 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, ticket vending machines, 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% by the Pollard family and 36% by public shareholders, and is publicly traded on the Toronto Stock Exchange (TSX: PBL). For more information, please visit our website at www.pollardbanknote.com.

Forward-looking Statements

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.

SOURCE Pollard Banknote Limited

FOR MORE INFORMATION CONTACT: Doug Pollard, Co-Chief Executive Officer, E-mail: [email protected]; Rob Rose, Chief Financial Officer, E-mail: [email protected]; John Pollard, Co-Chief Executive Officer, E-mail: [email protected]; Pollard Banknote Limited, Telephone: [phone]