Pollard Banknote Limited (TSX: PBL) (“Pollard Banknote”) is pleased to announce that it has been granted a one-year extension to its instant ticket games and related services contract by the Michigan Lottery (“Lottery”). Under this agreement Pollard Banknote will continue to supply the Lottery with outstanding games and strategic support through December 31, 2021.
Pollard Banknote has worked closely with the Lottery for 25 years, offering strategic insights and recommendations across a broad range of lottery products and services, including innovative games, retail initiatives, and digital engagement. Over the course of the current contract, which began on January 1, 2017, Pollard Banknote has printed many of the Lottery’s instant games. In addition to providing instant tickets and related services, Pollard Banknote, together with its family of companies, supplies the Lottery with ticket dispensing systems, digital games, pull-tabs tickets and pull-tabs vending machines, and its award-winning iLottery program.
The Lottery has achieved exceptional sales results since the start of the current agreement, including a 25% increase in instant sales from FY 2017 to FY 2019, which is more than double the rate of average growth among U.S. lotteries (11 %) over the same period. In addition, the Lottery has earned consistent year-over-year instant sales growth in the doubledigits for the past seven years.
Over the years, Pollard Banknote has helped the Lottery strengthen and complement its core games category with novel
play concepts, innovative printing methods, and digital game apps. For example, 5X Cashword, launched in February 2020, delighted players with a brand-new play style and app-based second chance promotion, resulting in 10-week sales that were 47 % higher than average sales for the Lottery’s other $5 crossword games since 2017.
Pollard Banknote also has played a role in the incredible 49% sales growth of the Lottery’s higher price point ($20+) category from FY 2017 to FY 2019. Strong recent contributors to this category were $50,000,000 Cash Blowout and Millionaire Wild Time, both of which represented the inaugural $20 launch of a popular brand. Millionaire Wild Time, which launched alongside the Lottery’s redesigned Wild Time app, contributed to a 12 % increase in $20 sales based on a comparison of sales 10 weeks before and after its launch.
“We are proud of the strong relationship we’ve cultivated with the Michigan Lottery, based on a shared vision for success focused on outstanding games, retail excellence, and digital innovation,” said Donna Preziotti, Director, Sales & Marketing, Pollard Banknote. “This contract extension demonstrates the productive nature of our collaborative partnership and we look forward to helping the Lottery continue to deliver outstanding lottery experiences to its players.”
“We strive to offer Michigan players innovative and engaging products. Pollard Banknote routinely brings exciting and innovative instant ticket games and strategies to the table. Many of those games are manufactured in Pollard Banknote’s Michigan facility by Michiganders, having a positive economic impact on the state,” said Glenn Strong, Deputy Commissioner of Games and Marketing, Michigan Lottery. “Our partnership with Pollard Banknote has helped us achieve consistent, record-breaking growth over the past four years and maximize our contributions to the School Aid Fund.”