07:47:24 EDT Tue 15 Oct 2019
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Pollard Banknote Ltd
Symbol C : PBL
Shares Issued 25,613,158
Close 2018-09-24 C$ 20.72
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Pollard wins 6-year ticket printing contract extension

2018-09-24 16:24 ET - News Release

Mr. Doug Pollard reports


Pollard Banknote Ltd. has won a six-year extension to its instant ticket printing and production services contract with the Texas Lottery. Under this agreement, Pollard Banknote will continue to provide the lottery with instant ticket printing and related services through to Aug. 31, 2024. Based on the company's most recent level of volumes, the estimated dollar value over the term of this extension is $70-million to $80-million.

This agreement extends the successful and nearly 20-year partnership between Pollard Banknote and the Texas Lottery. The lottery's success over the last two fiscal years has been particularly impressive, with instant ticket sales significantly above the U.S. average, which in turn generates additional revenue to go toward good causes within the state, most notably for education and veteran assistance funds. Throughout the relationship, but particularly during this time frame, Pollard Banknote has supported this growth with the launch of 20 innovative products -- products that make Pollard a proud part of the lottery's continued success. Supporting services, including game design, marketing and promotional support, and strategic planning, have also played key roles in driving sales.

The Texas Lottery has leveraged many of Pollard Banknote's innovative products over the years that have proved successful in engaging Texan players, including the irresistible sparkle and shine of Pollard Banknote's Scratch FX, most recently featured on the lottery's CA$H family of games. Eye-catching neon inks that stand out at retail and the North American debut of Pollard Banknote's patented Flip Scratch product have also added variety to the Texas Lottery's outstanding product lineup and contributed to its continued success.

"With a strong focus on collaboration and partnership, combined with industry-leading products and services, Pollard Banknote has proven to be a great asset to the Texas Lottery for almost two decades," said Gary Grief, executive director of the Texas Lottery. "We are pleased that this contract extension allows us to continue to build on our history of combined success, allowing us to offer Texans the most exciting and entertaining instant lottery products available."

"We are thrilled to continue our long-standing relationship with the Texas Lottery," said Brad Thompson, vice-president, sales and marketing, Pollard Banknote. "We have worked together to launch many innovative and engaging products over the years that have captured the attention of players throughout Texas and can proudly continue along this mutually beneficial path for all parties involved."

Established in 1992, the Texas Lottery is committed to generating revenue for the state of Texas through the responsible management and sale of entertaining lottery products. Maintaining the highest standards of security and integrity, the Texas Lottery has generated more than $28-billion in revenue for good causes in the state of Texas, including public education, veteran services and other important state programs. Over all, the lottery has contributed $22-billion to the Foundation School Fund and $100-million for veteran programs, with $1,313-million and $16.2-million contributed to these programs respectively in fiscal 2017.

About Pollard Banknote Ltd.

Pollard Banknote is a leading lottery partner to more than 60 lotteries around the world, providing high-quality instant ticket products, licensed games, and a full suite of digital offerings ranging from game apps to comprehensive player engagement and i-lottery solutions, including strategic marketing and management services.

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