WINNIPEG, MB, Aug. 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 primary contract from the Minnesota State Lottery ("Minnesota Lottery" or "Lottery") to provide Scratch Game Printing and Related Services. Under this agreement, Pollard Banknote will provide at least 70% of the Lottery's scratch games per contract year. The initial contract term commenced on July 1, 2022 and is four years with the option to extend for an additional two years. The estimated contract value, including all available extensions, is approximately $28 million USD.
The new contract extends the long and successful partnership between Pollard Banknote and the Minnesota Lottery that provides a strong foundation on which to develop effective products and strategies that continuously drives sales, broadens the Lottery's player base, and maximizes proceeds for good causes. Since first partnering with Pollard Banknote in 2007, scratch games sales in Minnesota have grown 136%. Most recently in FY2021, the Lottery's game sales totaled just over $615.6 million, an increase of $92.6 million from the previous fiscal year, generating over $188 million in returns to the State—the highest ever in the Lottery's history!
As the Lottery's primary scratch game partner, Pollard Banknote will continue to play an integral role in supporting the Lottery with outstanding games and effective retail solutions that attract and engage players. A majority of the Minnesota Lottery's scratch games, including its most successful games, are printed by Pollard Banknote and many leverage industry-leading print innovations, such as Scratch FX®, which added a sparkle and shine to the Lottery's 30th Anniversary and Full of $500s Holiday Edition tickets, which both sold exceptionally well.
"We are very excited to extend our strong partnership with Pollard Banknote," said Adam Prock, Executive Director, Minnesota Lottery. "Throughout our time working together, the company's expertise has helped us to maximize revenue in support of programs that benefit all Minnesotans. We are pleased that this agreement will allow us to continue to collaborate and bring engaging scratch games to our players."
"We are thrilled that the Minnesota Lottery has once again chosen us to be their primary partner for scratch games and related services," said Byron Peterson, Senior Director, Sales & Marketing, Pollard Banknote. "Having served as the Lottery's primary scratch games partner for over a decade, we have worked to provide players across Minnesota with best-in-class scratch games and retail initiatives that foster engagement and growth. We are excited to continue our partnership with the Lottery to deliver exciting products that create memorable experiences, ultimately benefitting residents throughout the State."
For over 30 years, the Minnesota Lottery has been dedicated to raising money for programs that positively impact the lives of Minnesotans, including education, public safety, and health & human services. Since its inception, the Lottery has returned more than $3 billion to the state with over $1.2 billion going toward preserving, protecting, and restoring Minnesota's environment. For more information, please visit www.mnlottery.com.
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 64.3% by the Pollard family and 35.7% 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.
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SOURCE Pollard Banknote Limited
