WINNIPEG, MB, Feb. 28, 2022 /PRNewswire/ - Pollard Banknote Limited (TSX: PBL) ("Pollard Banknote") congratulates the Michigan Lottery ("Lottery") on another record-breaking year and a remarkable $2.496 billion in instant retail ticket sales for the fiscal year ("FY") 2021. This marks the Lottery's eighth consecutive year of double-digit retail instant sales growth. This stunning increase has helped the Michigan Lottery become the fastest growing U.S. lottery over the past 10 years, with a growth rate of 238% and more than double the rate of the U.S. average over the same timeframe!
As a longstanding partner of the Michigan Lottery, Pollard Banknote prints the majority of the Lottery's instant tickets at Pollard Banknote's Ypsilanti, Michigan plant. The plant employs almost 240 Michigan residents and prints tickets for lotteries around the globe.
The Lottery's continued success is the result of the holistic approach that it takes with Pollard Banknote, involving a broad portfolio of outstanding and innovative games, effective retail initiatives, and the expansion of the Lottery's ecosystem with the launch of several engaging digital games as well as the most successful iLottery program in the U.S., providing a true omnichannel experience. Pollard Banknote has collaborated with the Lottery to help strengthen and complement its core games category over the years with well-timed introductions of new price points, and the integration of novel play concepts, optimal prize structures, innovative printing methods, and digital game apps that extend the player experience.
Unique game concepts with print innovations and popular licensed games are among the outstanding tickets launched in 2021. A $60,000,000 Cash Blowout! ticket at $20, enhanced with the brilliance of Pollard Banknote's Spectrum Scratch FX® print feature, was exceedingly popular with sales 40% higher than similar tickets both 5 and 10 weeks after the launch. Frogger, the popular classic video game and arcade favorite returned as a $2 instant ticket at retail in Michigan, with an iLottery version allowing for cross-promotion and an exciting player experience. The $2 Frogger ticket demonstrated the highest 5-week average sales results within the Lottery's $2 ticket category in 2021.
The Lottery is also dedicated to retail excellence which is supported by Pollard Banknote's Retail Growth team. The Lottery introduced a pilot program of Lighted Menu Boards ("LMBs") from Schafer Systems, a Pollard Banknote company. The LMBs feature two vertical lights that make the tickets and inserts pop, while the ticket number clips make identifying the games easy. The LMBs were extremely effective in driving instant ticket sales, helping to increase sales for participating retailers by 32.5% in the quarter they were introduced compared to the same quarter in the previous year. The Lottery has since installed over 1,300 LMBs, and ordered over 200 more to improve instant ticket visibility, increase facings, and boost in-store sales.
"We are so pleased to have achieved another year of record-breaking sales which ultimately means increased returns to the Michigan School Aid Fund. Pollard Banknote is an important partner and has played a significant role in our continued success," stated Glenn Strong, Deputy Commissioner of Games and Marketing, Michigan Lottery. "We look forward to continuing to work together as we move forward and grow, all for the benefit of Michigan's schools."
"Congratulations to the Michigan Lottery on another tremendous year. The Michigan Lottery is a valued client, and we are very proud to contribute to their success", said Donna Preziotti, Director, Sales & Marketing, Pollard Banknote. "The long-standing relationship built between the Lottery and Pollard Banknote reflects our Company's Empowered Partnership model where we work collaboratively to seek the optimized combination of products, services and consultation for our lottery partners. Together, Pollard Banknote and the Michigan Lottery have developed and executed new products, retail solutions, and innovations into the Michigan market that have led to increased revenue and new and exciting instant and iLottery games for players."
About the Michigan Lottery
Since it was established in 1972, the mission of the Michigan Lottery has been to maximize revenue to support public schools by providing fun and entertaining games of chance. The Lottery will contribute a record $1.419 billion to its beneficiary, the School Aid Fund, for the recently ended fiscal year 2021, exceeding last year's contribution by almost $240 million. This was the Lottery's seventh consecutive record contribution. Since its inception, the Michigan Lottery has provided more almost $26 billion to support public education. To learn more, visit www.michiganlottery.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, 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 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
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.