WINNIPEG, Manitoba, September 10, 2012 /CNW/ – Pollard Banknote Limited (TSX: PBL) (Pollard Banknote) is pleased to announce that it has signed a six‐year contract for the supply of instant tickets and related services with the Texas Lottery Commission. The contract, which started on September 1, 2012, also provides for two additional three‐year extensions. In previous contracts, the Texas Lottery named a single primary supplier; however, this recent award distributes instant ticket printing among multiple qualified bidders.
“Pollard Banknote is both honored and excited to now be a major supplier to the Texas Lottery. We’ve proven that we can play a vital role in helping the Lottery achieve both short and long‐term growth based on the strength of our category expertise and proprietary innovations,” said Doug Pollard, Co‐Chief Executive Officer. “This contract demonstrates the Lottery’s leadership in the industry and speaks to its confidence in Pollard Banknote as a key supplier in its future growth.”
“Pollard Banknote has provided us with high quality, secure tickets that have helped contribute funding to public education in the state of Texas,” commented Gary Grief, Executive Director of the Texas Lottery Commission. “We look forward to working more closely with Pollard Banknote to leverage its unique product portfolio in the years ahead.”
Beginning with the first ticket sold in 1992, the Texas Lottery has generated more than $20 billion in revenue for the state of Texas and distributed $39 billion in prizes to lottery players. Since 1997, the Texas Lottery has contributed more than $14 billion to the Foundation School Fund, which supports public education in Texas. As authorized by the Texas Legislature, certain Texas Lottery revenues benefit state programs including the Fund for Veterans’ Assistance.