Pollard Banknote Awarded Three-Year Exclusive Contract With Israel's Mifal Hapayis Lottery
WINNIPEG, Manitoba, April 15, 2013 /CNW/ – Pollard Banknote Limited (TSX: PBL) (Pollard Banknote) is pleased to announce that Mifal Hapayis, Israel’s national lottery, has awarded Pollard Banknote an exclusive contract for instant ticket manufacturing and support services. This new contract, which began in March 2013, is for three years, with two optional one-year extensions. The contract value including extensions is estimated at $15 million (CDN). Pollard Banknote has supplied instant tickets to Mifal Hapayis since 2002, with this new contract representing Pollard Banknote’s third consecutive exclusive contract. During this period, Mifal Hapayis’ annual instant ticket sales increased from 800 million Israeli New Shekels (ILS) to 1.327 billion ILS in 2012.
“Pollard Banknote is excited for this opportunity to continue developing our 10-year relationship with Mifal Hapayis,” said Doug Pollard, Co-Chief Executive Officer. “Mifal Hapayis appreciates our dedication to understanding their market and our ability to adapt to their changing needs. We will use our insight, knowledge, and experience to continue bringing new product concepts to Israel’s players.”
“Over the last decade, we have built a true partnership with Pollard Banknote based on collaboration and trust,” commented Avi Levy, Mifal Hapayis’ Instant Tickets Marketing Director. “Pollard Banknote’s unfailing attention to customer service is complemented with quality products and a high level of commitment to integrity and security. They have brought innovative products to the Israeli marketplace, such as their eye-catching Scratch FX®, which has proven perfect for our higher-priced tickets. We look forward to working with the Pollard Banknote team to continue our trend of annual sales growth.”
Mifal Hapayis was started in 1951 as a revenue source for healthcare initiatives. Today, with a primary focus on generating funds for education in Israel, the Lottery supports other good causes including culture, welfare, the environment, and the arts. In total, Mifal Hapayis has raised over 23 billion ILS to support Israeli good causes.
About Pollard Banknote Limited
Pollard Banknote Limited is one of the world’s leading full-service lottery vendors and is a major supplier to North America’s charitable gaming industry. The company manufactures instant lottery tickets and provides related programming, design, and marketing support. As well, Pollard Banknote manufactures pull tab tickets and bingo paper, and supplies lottery management services (including warehousing and distribution). Established in 1907, Pollard Banknote is owned approximately 73.5% by the Pollard family and 26.5% by public shareholders and currently serves more than 50 lotteries worldwide, including some of the largest and most respected lotteries in the United States, Canada, Europe, Asia, and Central and South America.
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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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