WINNIPEG, MB, Dec. 5, 2024/CNW/ - Pollard Banknote Limited ("Pollard Banknote") (TSX: PBL) is pleased to announce that it has been awarded a new exclusive contract by the Taiwan Lottery Co., Ltd. ("TLC" or "the Lottery") to serve as its sole provider of instant tickets. The five-year contract is valid through December 31, 2028, and includes provisions to extend the agreement for five additional years. Based on average annual sales, the contract value is estimated at $66 million CAD over the five-year term, which commenced on January 1, 2024.
Pollard Banknote Limited Logo (CNW Group/Pollard Banknote Limited)
As a longstanding partner to TLC and member of the Asia Pacific Lottery Association Limited ("APLA"), Pollard Banknote has served as a trusted provider of instant tickets since 2006, gaining an in-depth understanding of the Taiwanese market and delivering unique game designs that excite players and drive sales. Annual sales for 2024 are on track to reach a new record which will be the highest instant ticket sales the Taiwan Lottery has ever seen! This remarkable success comes from the many eye-catching tickets Pollard Banknote produces for TLC, including 20 Million Super Red Envelope (2,000萬超級紅包). One of the Lottery's most popular games, it features artwork from Pollard Banknote and sells out each year. Pollard Banknote also designed and printed the Lottery's Golden Dragon (金龍獎) ticket for Lunar New Year 2024. This game, printed annually by Pollard Banknote, is customized to each year's Chinese zodiac animal making it the ideal gift for Chinese New Year.
In addition to delivering cutting-edge instant tickets, TLC has demonstrated its commitment to social responsibility by generating millions of New Taiwanese Dollars to public welfare services. From 2014 to 2023, cumulative lottery proceeds reached NT$295.7 billion ($12.7 billion CAD), averaging NT$29.57 billion ($1.27 billion CAD) per year. The Taiwan Lottery also contributes an annual rebate of NT$2.7 billion ($116 million CAD) to the Ministry of Finance.
"Over the past 18 years, Pollard Banknote has cultivated a collaborative and trusting relationship with the Taiwan Lottery, and we are thrilled to continue our partnership over the course of the new contract term," said Doug Pollard, Co-Chief Executive Officer, Pollard Banknote. "We are extremely honoured to be a part of the Lottery's success in achieving its primary goal of supporting underprivileged residents in Taiwan, and deeply admire the Lottery's dedication to giving back to the community."
"Pollard Banknote continues to be an invaluable partner in supporting our success. Their commitment to quality and producing instant tickets uniquely suited to the Taiwanese market have led to us achieving our highest sales record to date," said Jonathan Hsieh, President, TLC. "We look forward to continuing this success and growing our sales further throughout the next contract term to benefit social welfare programs across Taiwan."
TLC is a subsidiary of CTBC Financial Holding Co., Ltd., and is the organization assigned to operate the Lottery. As the operator of Taiwan's Public Welfare Lottery since 2007, CTBC Bank Co., Ltd. ("CTBC Bank") was awarded a ten-year lottery operator license by the Ministry of Finance beginning January 1, 2024, and running through to December 31, 2033. CTBC Bank contracted with TLC to manage the operation of the lottery business, consisting of online, instant, and passive products. TLC offers diversified lottery products to Taiwan's citizens and strives to assist socially disadvantaged groups in Taiwan through the allocation of lottery profits that support universal health insurance, national pensions, and social assistance and welfare programs.
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% by the Pollard family and 36% 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.
