WINNIPEG, MB, April 21, 2021 /CNW/ - Pollard Banknote
Limited (TSX: PBL) ("Pollard Banknote") is pleased to
announce that it has been awarded a significant long-term contract
extension, which underscores the strength of its relationship with
the Ontario Lottery and Gaming Corporation ("OLG"). Under this
agreement, Pollard Banknote will continue to serve as OLG's primary
INSTANT ticket supplier, providing a full range of products and
services through July 31, 2032, with
an additional five-year renewal option.
Pollard Banknote has been a trusted partner to OLG since 1987
and has served as its primary supplier for the past 14 years. In
2008, Pollard Banknote opened an INSTANT ticket finishing plant in
Sault Ste. Marie, demonstrating
its commitment to OLG while supporting economic development in the
province of Ontario. From an
assurance of 37 full-time staff in the plant's first year of
operations, staffing has increased to 120, and will be further
increased to a commitment of 140 full-time staff with this
extension. This continuous growth has helped to boost Pollard
Banknote's total finishing capacity in tandem with its increasing
ticket production volumes. In 2020, the Sault Ste. Marie plant experienced a record
year, packaging 31% more tickets than just five years ago, with
these tickets destined for OLG and lotteries around the world.
Since 2007, OLG has reached many milestones in its business,
including in its INSTANT ticket category. Over this time, OLG has
grown sales of all instant game price points, developed
award-winning games, introduced innovative higher priced games, and
fostered one of the strongest portfolios of extended play games,
such as CROSSWORD and BINGO, in the world. In fiscal year 2020, OLG
achieved record-breaking annual INSTANT ticket sales of over
$1.4 billion. Pollard Banknote has
helped contribute to OLG's continued sales growth through the
development of great INSTANT games that engage Ontario players, while at the same time
working closely with the Lottery to ensure that the highest
standards of security and quality are maintained.
Significant drivers of this sales growth include OLG's THE
BIG SPIN and THE BIGGER SPIN INSTANT games—printed
by Pollard Banknote. These games offer three levels of prize
reveals: instant wins on the ticket, prize reveals via an animated
digital wheel at retail, and top prize amounts disclosed with the
spin of a giant wheel at live events. This game has created buzz
and excitement in Ontario and in
other jurisdictions that have introduced the concept.
"OLG is pleased to be furthering our strong partnership with
Pollard Banknote, securing the continuity and sustained growth and
development of our INSTANT lottery business. For well over a decade
we've worked together to find ways to deliver value for money for
the people of Ontario while
creating world class product for our players," said Duncan Hannay, President and CEO of OLG. "We're
happy to be working with a partner like Pollard to create
employment opportunities in this province. The new positions at the
Sault Ste. Marie plant demonstrate
our shared commitment to supporting economic recovery in the
communities where we operate our businesses."
"Pollard Banknote is very proud of our long-standing partnership
with OLG which has been productive and mutually beneficial. We have
worked hard to help OLG increase sales and offer an expanding
selection of innovative products and services to meet the players'
evolving preferences," said Doug
Pollard, Co-Chief Executive Officer, Pollard Banknote.
"Additionally, we are thrilled that the leadership and hard work of
our dedicated staff at our Sault Ste.
Marie plant are being rewarded with this contract
extension."
"I am so happy to highlight the collaboration between OLG and
Pollard Banknote. As I always say, we work better when we work
together," said Ross Romano, MPP for
Sault Ste. Marie. "Partnerships
like this are critical to our community's economic recovery and
prosperity. Partnerships such as this are not only bringing more
business into our community and growing our economy but are also
providing significant employment to Sault
Ste. Marie."
In addition to providing INSTANT tickets and related services
directly to OLG, Pollard Banknote, through its family of companies,
helps to support local communities and charities in Ontario by supplying Charitable Gaming Centres
across the province with break open tickets, bingo paper, and TAP
'N PLAY cabinet games.
OLG is a crown agency that develops world-class gaming
entertainment for the Province of Ontario. Acting in a socially responsible way,
OLG conducts and manages land-based gaming facilities; the sale of
province-wide lottery games; Internet gaming; and the delivery of
bingo and other electronic gaming products at Charitable Gaming
Centres. OLG is also helping to build a more sustainable horse
racing industry in Ontario. Since
1975, OLG has provided approximately $55
billion to the people and Province of Ontario to support key government priorities
like health care; the treatment and prevention of problem gambling;
and support for amateur athletes. Each year proceeds from OLG's
operations also support host communities, Ontario First Nations,
lottery retailers and local charities across the province.
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.
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