WINNIPEG, Manitoba, August 6, 2024 /CNW/ – Pollard Banknote Limited (“Pollard Banknote”; TSX: PBL) disclosed today the Michigan Lottery (“Lottery”) has published their Award Recommendation results of their Internet Sales Platform & Related Services request for proposal. Currently Pollard Banknote, through a joint venture agreement with their third party technology partner, provides these services under a contract that expires in July 2026.

The Lottery has recommended starting in July 2026 the contract for the supply of iLottery and related services will be provided by a supplier other than Pollard Banknote. On a trailing twelve month basis as of March 31, 2024, our share of the Michigan iLottery contract income before income taxes represents approximately $9 million of our total Adjusted EBITDA.

The current iLottery supply contract will continue to be provided by Pollard Banknote and our technology partner through the end of its existing contract in July 2026. We continue to be a partner in the U.S. iLottery market leader NeoPollard Interactive LLC which currently includes five long‐term iLottery contracts.

Pollard Banknote continues to actively market our own state of the art proprietary iLottery platform, which has been installed in a number of jurisdictions and which we have re‐developed over the past three years specifically for the U.S. market. We believe this will be the most effective omni‐channel iLottery solution for lotteries around the world and we look forward to growing in this lottery market segment.

Pollard Banknote remains an important supplier to the Michigan Lottery through a number of different ongoing products and solutions including recently being awarded a new five year contract for the primary supplier for their instant tickets. We currently employ approximately 375 employees at our facilities throughout the state of Michigan.

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.

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FOR MORE INFORMATION CONTACT:

Doug Pollard
Co-Chief Executive Officer        
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John Pollard
Co-Chief Executive Officer        
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