Pollard Banknote Announces Michigan Lottery's Latest Cashword Success
WINNIPEG, Feb. 25, 2013 /CNW/ - Pollard Banknote Limited (TSX: PBL) (Pollard
Banknote) is pleased to announce the successful launch of the Michigan
Lottery's new $5 Cashword game, Triple Green Cashword. In the first ten weeks
since its launch, Triple Green Cashword has proven to be the Lottery's
best-selling $5 Crossword game since 2004, having sold 76% better than the
average Crossword game. The $5 Cashword price point complements the Michigan
Lottery's $3 Cashword ticket, which was heralded as the "Best New Instant
Ticket of the Year" at the 2012 World Lottery Summit, hosted by the North
American Association of State and Provincial Lotteries.
Building upon the success of $3 Cashword, Triple Green Cashword comes with an
updated online app that introduces a new form of game play—Cashword
Multiplier. Players who purchase the $3 Cashword ticket can continue playing
the app in its initial form. However, purchasing the $5 ticket enables the
bonus multiplier feature, which provides players with an opportunity to
increase their winnings—via points or vouchers—by up to 50 times.
"Pollard Banknote is thrilled with the latest achievements of the Michigan
Lottery's Cashword program," said Doug Pollard, Co-Chief Executive Officer,
Pollard Banknote. "The recent success of the Michigan Lottery's Cashword app,
combined with our relationship with the Lottery, has not only allowed us to
expand the mobile app, but also the Cashword category overall. Ultimately,
this equates to great returns for the State of Michigan."
"We are excited to build upon the momentum of our Cashword success," said Tom
Weber, Chief Deputy Commissioner, Michigan Lottery. "We truly believe we have
something special here. The team at Pollard Banknote is just as excited as we
are and there's no telling where this can go."
Pollard Banknote and predecessor companies have been the primary instant
ticket supplier to the Michigan Lottery since 1986. The Michigan Lottery
reported annual sales of $2.4 billion in fiscal 2012, and generated over $770
million in net revenue for the state's School Aid Fund. Established in 1972,
the mission of the Michigan Lottery is to support State education programs
with the highest integrity. It accomplishes this by providing highly
entertaining products through a dynamic public business enterprise built upon
honesty, customer satisfaction, and teamwork.
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.
Certain statements in this press release may constitute "forward-looking"
statements and information which involve known and unknown risks,
uncertainties, and other factors which 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.
Doug Pollard (firstname.lastname@example.org) Co-Chief Executive Officer Telephone: (204)
474-2323 Facsimile: (204) 453-1375
John Pollard (email@example.com) Co-Chief Executive Officer Telephone: (204)
474-2323 Facsimile: (204) 453-1375
Rob Rose (firstname.lastname@example.org) Chief Financial Officer Telephone: (204) 474-2323
Facsimile: (204) 453-1375
SOURCE: Pollard Banknote Limited
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