- Reinforces long-term approach to manage existing customer
accounts
- Provides option to pursue future North America iLottery opportunities through
the NeoPollard Interactive or independently
WINNIPEG, MB, Jan. 10,
2023 /CNW/ - Pollard Banknote Limited (TSX: PBL)
("Pollard Banknote" or "the Company"), is pleased to announce today
that it has entered into a joint venture operating agreement with
respect to NeoPollard Interactive LLC ("NPI" or the "Joint
Venture") and amended the parties' Michigan Joint Venture Agreement
(the "Agreements") with NeoGames S.A. (Nasdaq: NGMS) ("NeoGames").
The Agreements reinforce the long-term approach to ensure the
continued success of NPI and accordingly, the operations of its
market leading customers. In addition, the Agreements allow
Pollard and NeoGames the option to pursue future iLottery
opportunities in the North American market either in partnership,
as part of the Joint Venture, or independently.
Doug Pollard, Co-Chief Executive
Officer of Pollard Banknote stated, "NPI has been the leader in the
North American iLottery market since its creation ten years ago and
continues to generate significant value for its lottery
clients. We are extremely pleased to reconfirm the commitment
to our NPI joint customers and look forward to continuing long-term
success with the completion of the Agreements."
"The signing of the Agreements underlines the strong
relationship we have had with NeoGames throughout the growth of NPI
and the high level of commitment our team brings to our existing
iLottery clients. The Agreements further provide the
flexibility for both Joint Venture parties' to pursue future
iLottery opportunities within the Joint Venture or
independently. Such decisions will be made on a case-by-case
basis and will depend on the specific facts and circumstances of
each opportunity."
The operations of NPI remain unchanged under the
Agreements. The NPI team will continue to provide world class
player operations support, account management and professional
services.
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
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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SOURCE Pollard Banknote Limited
