Pollard Banknote's Productive Partnership With the Michigan Lottery Continues With New Contract Extension
WINNIPEG, MB, Feb. 16, 2021 /CNW/ - Pollard Banknote Limited (TSX: PBL) ("Pollard Banknote") is pleased to announce that it has been granted a one-year extension to its instant ticket games and related services contract by the Michigan Lottery ("Lottery"). Under this agreement Pollard Banknote will continue to supply the Lottery with outstanding games and strategic support through December 31, 2021.
Pollard Banknote has worked closely with the Lottery for 25 years, offering strategic insights and recommendations across a broad range of lottery products and services, including innovative games, retail initiatives, and digital engagement. Over the course of the current contract, which began on January 1, 2017, Pollard Banknote has printed many of the Lottery's instant games. In addition to providing instant tickets and related services, Pollard Banknote, together with its family of companies, supplies the Lottery with ticket dispensing systems, digital games, pull-tabs tickets and pull-tabs vending machines, and its award-winning iLottery program.
The Lottery has achieved exceptional sales results since the start of the current agreement, including a 25% increase in instant sales from FY 2017 to FY 2019, which is more than double the rate of average growth among U.S. lotteries (11 %) over the same period. In addition, the Lottery has earned consistent year-over-year instant sales growth in the double-digits for the past seven years.
Over the years, Pollard Banknote has helped the Lottery strengthen and complement its core games category with novel play concepts, innovative printing methods, and digital game apps. For example, 5X Cashword, launched in February 2020, delighted players with a brand-new play style and app-based second chance promotion, resulting in 10-week sales that were 47 % higher than average sales for the Lottery's other $5 crossword games since 2017.
Pollard Banknote also has played a role in the incredible 49% sales growth of the Lottery's higher price point ($20+) category from FY 2017 to FY 2019. Strong recent contributors to this category were $50,000,000 Cash Blowout and Millionaire Wild Time, both of which represented the inaugural $20 launch of a popular brand. Millionaire Wild Time, which launched alongside the Lottery's redesigned Wild Time app, contributed to a 12 % increase in $20 sales based on a comparison of sales 10 weeks before and after its launch.
"We are proud of the strong relationship we've cultivated with the Michigan Lottery, based on a shared vision for success focused on outstanding games, retail excellence, and digital innovation," said Donna Preziotti, Director, Sales & Marketing, Pollard Banknote. "This contract extension demonstrates the productive nature of our collaborative partnership and we look forward to helping the Lottery continue to deliver outstanding lottery experiences to its players."
"We strive to offer Michigan players innovative and engaging products. Pollard Banknote routinely brings exciting and innovative instant ticket games and strategies to the table. Many of those games are manufactured in Pollard Banknote's Michigan facility by Michiganders, having a positive economic impact on the state," said Glenn Strong, Deputy Commissioner of Games and Marketing, Michigan Lottery. "Our partnership with Pollard Banknote has helped us achieve consistent, record-breaking growth over the past four years and maximize our contributions to the School Aid Fund."
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 66.7% by the Pollard family and 33.3% by public shareholders, and is publicly traded on the 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
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: (204) 474-2323
Share this article