WINNIPEG, May 22, 2013 /CNW/ - Pollard Banknote Limited (TSX: PBL) ("Pollard Banknote") is pleased to announce that it has been awarded a new five-year Primary contract by Western Canada Lottery Corporation ("WCLC") for the production of instant lottery tickets. This new agreement commenced on April 29, 2013, extending the company's longstanding partnership with WCLC until at least 2018, and includes an option to renew the contract for up to an additional five years. The estimated value of the contract is $75 million over the life of the contract, including extensions.
Pollard Banknote has been a dedicated partner to WCLC since the company first began printing instant lottery tickets in 1985. The company's Canadian operations include its corporate headquarters and two manufacturing facilities based in Winnipeg, Manitoba, with an additional plant in Barrhead, Alberta, for the finishing and pouching of instant ticket products. As such, Pollard Banknote offers WCLC the unique opportunity of having a world-class supplier of instant lottery tickets with industry-leading expertise located within its jurisdiction.
"Pollard Banknote is very proud of our nearly 30-year relationship with WCLC," said Douglas Pollard, Co-Chief Executive Officer, Pollard Banknote. "Since printing our very first instant lottery ticket for WCLC in the mid-80s, we have amassed a thorough and unrivalled understanding of the Lottery, its players, and the Western Canadian market as a whole. We look forward to building upon this partnership in the coming years with the mutual goal of increasing revenues for WCLC and its associated provincial and territorial marketing organizations."
Through the years, WCLC has continually leveraged a number of Pollard Banknote's exclusive print innovations--including the company's patented Scratch FX® and Pollard PlayBook® products--in order to offer its players the most exciting and bestselling instant tickets available. Recently, WCLC and Pollard Banknote also successfully collaborated on several landmark market research and field studies to identify new opportunities to grow retail sales within the Western Canadian marketplace.
About Western Canada Lottery Corporation
WCLC is a non-profit organization authorized to manage, conduct, and operate lottery and gaming-related activities as an agent for its members, the governments of Alberta, Saskatchewan, and Manitoba. The Yukon Territory, Northwest Territories, and Nunavut participate as associate members. WCLC works in conjunction with the Alberta Gaming and Liquor Commission, Saskatchewan Lotteries, Manitoba Lotteries Corporation, Lotteries Yukon, and Sport North Federation. WCLC is a Regional Marketing Organization of the Interprovincial Lottery Corporation, which is incorporated and authorized to manage and conduct national lotteries in Canada.
About Pollard Banknote Limited
Pollard Banknote Limited is one of the world's leading full-service lottery vendors and is a major supplier to North America's charitable gaming industry. The company manufactures instant lottery tickets and provides related programming, design, and marketing support. As well, Pollard Banknote manufactures pull-tab tickets and bingo paper, and supplies lottery management services (including warehousing and distribution). Established in 1907, Pollard Banknote is owned approximately 73.5% by the Pollard family and 26.5% by public shareholders and currently serves more than 50 lotteries worldwide, including some of the largest and most respected lotteries in the United States, Canada, Europe, Asia, and Central and South America.
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
