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Pollard Banknote Provides Business Update in Response to COVID-19 Uncertainty

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5 years ago

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Reading Time: 4 minutes

 

Pollard Banknote Limited, like many organizations, has been confronted with an unprecedented challenge in managing the impact of the COVID -19 virus outbreak.

Our focus in all of our operations is maintaining a safe and healthy environment for all of our employees, their families and all of our stakeholders, while continuing to support the business of our customers. We have implemented stringent health protocols in all of our facilities including extensive social distancing protocols, more frequent cleaning and disinfecting, widespread working at home policies and daily health and temperature screening for all staff working at all of our facilities.

Pollard’s business is primarily focused on the sale of instant tickets and ancillary products to government lotteries around the world and the sale of charitable gaming products to charitable gaming organizations in North America. Our products are sold to lotteries and distributors for ultimate sale at various retail establishments.

Lotteries

Pollard’s lottery operations account for approximately 78% of our overall revenue. Currently almost all lotteries have remained operational and are continuing to sell lottery products including instant tickets at retail. The impact of the virus on retail sales of lottery products has varied from jurisdiction to jurisdiction, however on average, over the last few weeks North American lotteries are reporting between 15-20% reductions in retail sales of instant tickets compared to the same periods last year.

All of our lottery production facilities remain open and operational at this time, and all of our staff who can work from home are doing so. Our supply chains remain intact. We have not yet seen a significant reduction in our short-term production schedule as generally we produce instant tickets well in advance of its release at retail by the lotteries. However, to ensure a safe work environment, including maintaining social distancing, we have reduced our staffing and production capacity in our Ypsilanti, Michigan facility. The combined impact of this reduction in capacity and some softening in our orders due to lower retail sales could result in a reduction in our instant ticket revenue of between 10-15% during this period.

Traditionally, sales of instant tickets have shown significant resilience during times of substantial economic downturn and we anticipate a return to the historic sales levels and continued growth when retail markets return to normal.

Our sales earned through our iLottery operations, generated through revenue sharing, has grown noticeably over the past few weeks, as consumers increasingly move their purchases to the internet. However, only a small number of lotteries have developed iLottery portals and as a result, our increased revenue from iLottery will only modestly mitigate reduced sales in other areas of our business.

Pollard has taken a number of steps to minimize our expenditures throughout our lottery business in light of the reduced lottery revenue. This includes reductions in discretionary expenses, postponing capital projects, select temporary staff furloughs in certain areas of the lottery operations and salary reductions for our entire management group. Government programs available to assist employees and businesses are being investigated and reviewed. In addition, our ancillary products operations, including Schafer and Fastrak merchandising operations, are selectively utilizing temporary staff furloughs to help mitigate any reduction in revenue for these businesses. To the extent the economic environment further reduces lottery sales, additional expenditure reduction initiatives will be implemented.

Charitable Gaming

Our charitable gaming products generate approximately 22% of our consolidated revenue and include the sale of pull-tab tickets, bingo paper and the operation of Diamond Game and Oasis branded egaming machines. Sales primarily occur in social settings such as bars, veteran halls and bingo centers across North America. Essentially all jurisdictions have temporarily closed these facilities and as a result, our charitable gaming and egaming revenue has been mostly eliminated. This revenue reduction is expected to continue during the period these outlets are closed. There is no clear indication when jurisdictions may reopen these establishments or when we can expect retail sales of charitable gaming products to return to their pre-existing levels.

Our American Games and International Gamco business units remain operational at this time and continue to produce inventory to help address a significant backlog of orders that had developed due to strong customer demand prior to the closure of the various social settings. This replenishment of our pull-tab and bingo paper inventory levels will allow us to be strongly positioned to meet our customer demand when the retail locations are allowed to reopen.

Pollard is also taking steps across our charitable gaming businesses to minimize our losses during this period. Discretionary expenses have been eliminated and capital expenditure projects postponed. In addition, temporary staff furloughs, workshare programs among employees and salary reductions across management have been implemented throughout our operations. We do not make these decisions lightly and in all cases we are working closely with employees and governments to take advantage of various programs that provide financial support for our staff in these difficult times.

The situation we are all facing is unprecedented and has been changing very quickly. Based on the current impact of the virus on our business, we would estimate that our overall consolidated revenue could be reduced in the 25-30% range compared to the prior year during this period of decreased sales. We have implemented cost reduction strategies to minimize the impact of the revenue reduction, which will evolve as the situation changes.

Pollard has significant financial strength and a number of sources of liquidity to allow us to weather this period of reduced sales. In addition to our expenditure reduction initiatives, our balance sheet is strong with substantial available cash resources and access to additional funding through an undrawn secured senior bank facility that provides considerable readily available liquidity including a large accordion feature. Our working capital levels going into this period were high, providing further liquidity as we collect our receivables. The Pollard family, 67.5% shareholders, remain very committed to our business through their leadership and continued financial backing.

“The situation relating to the COVID-19 virus is changing very rapidly and will undoubtedly continue to do so,” commented Doug Pollard, Co-Chief Executive Officer, Pollard Banknote. “However, the long-term business fundamentals of the lottery and charitable gaming industries remain extremely positive. Our organization is very strong and will be able to withstand this difficult period. When markets start to open up again we expect our products to bounce back very quickly.”

“Having been established over 110 years ago in 1907, Pollard clearly focuses on taking the long-term view through our vision and commitment to our stakeholders. The Pollard family and all of our more than 1,900 dedicated team members remain committed to growing our world class organization and being the partner of choice to our lottery and charitable gaming customers, now and in the future.”

 

SOURCE Pollard Banknote Limited

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Affiliate Industry

Meet MegaList: The Rising Force in iGaming Affiliation

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4 hours ago

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June 16, 2025

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There are affiliate networks, and then there’s MegaList – a performance-first, hype-last kind of operation built for casino and sportsbook brands that prefer results over buzzwords.

In an industry that sometimes feels like it’s powered by vague metrics and recycled content, MegaList steps in as the “Mega Map” – a practical, data-driven network guiding both players and operators to higher ground. Less “look at our reach,” more “here’s your conversion rate.”

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The iGaming Affiliate World: Why It (Still) Matters

Let’s be honest – the affiliate space in iGaming has had its fair share of bad actors and empty promises. But when done right, affiliate marketing is still one of the most effective and efficient ways to connect licensed operators with the right players.

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The post Meet MegaList: The Rising Force in iGaming Affiliation appeared first on European Gaming Industry News.

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Gambling in the USA

Gaming Americas Weekly Roundup – June 2-8

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6 days ago

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June 10, 2025

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Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.

Latest News

Merkur Gaming is going to participate in this year’s Peru Gaming Show, taking place from June 18 to 19 at the Centro de Convenciones Jockey Plaza in Lima. Representatives from the company’s German headquarters and its local subsidiary, Merkur Gaming Peru, will be on site to present the latest product innovations and engage with customers and visitors alike. The main attraction at the Merkur Gaming stand will be the linked progressive jackpot system Clash Link. This system stands out for its wealth of unique jackpot mechanics, which keep the excitement level consistently high.

PENN Entertainment has launched a new PGA TOUR-branded Blackjack game in New Jersey and Ontario. PGA TOUR Blackjack, now available via online Hollywood Casino in New Jersey and theScore Casino in Ontario, is the first iCasino game featuring PGA TOUR branding across any platform. PGA TOUR Blackjack, created by PENN’s in-house game development studio, PENN Game Studios, offers classic blackjack gameplay, plus poker and pairs side bets. The golf-themed table features official PGA TOUR logos, custom playing cards, chips and golf-themed celebrations. The new title is available on the standalone Hollywood Casino and theScore Casino platforms and is also accessible through ESPN BET in New Jersey and theScore BET in Ontario.

International Game Technology PLC announced the launch of IGT PlayDigital’s MEGA VAULT offering – a new innovation on its player engagement solution. Powered by the IGT PlayDigital Engagement Platform, a customisable suite of player engagement tools, MEGA VAULT brings together its industry-renowned engagement tools—Prize Drops, Leaderboards, Marketing Jackpots and more—into a single promotional experience. Designed to maximise excitement, engagement and rewards, MEGA VAULT aims to deliver seamless high-impact campaigns that captivate players and drive long-term retention.

Partnerships

Zitro has installed its revolutionary CONCEPT cabinets at the Casino La Cima in Mérida, Yucatán. The CONCEPT cabinets feature the Magic Lighting system, which syncs lights and sound with gameplay for a fully immersive experience, and the largest Screen Deck button panel on the market, offering unmatched comfort and ease of use for players and operators. This launch is backed by some of Zitro’s most successful titles — Fortune Legacy, Legendary Sword and King Fu Frog — all proven crowd favourites known for their engaging mechanics and strong performance.

Aristocrat Interactive, under NeoGames US, signed a six-year contract with the Michigan Lottery to provide its full solution of iLottery product offerings, reaffirming its leadership in the U.S. iLottery industry. Under the contract, from July 2026, Aristocrat Interactive will provide services to the Michigan Lottery for six years, with six additional one-year extension opportunities. The relationship with the Michigan Lottery began in 2014 with the launch of its iLottery programme using NeoGames’ iLottery platform and games. This new deal will provide the Michigan Lottery with eInstant games, draw-based games and add-on offerings produced by Aristocrat Interactive’s NeoGames Studio, along with continuing to leverage the company’s iLottery technology. Aristocrat Interactive will also provide the Michigan Lottery with a new website and mobile application services with Gambyt – a software company specialising in the lottery, casino and sports betting industries.

The post Gaming Americas Weekly Roundup – June 2-8 appeared first on European Gaming Industry News.

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Industry News

EGBA Announces Dates for This Year’s European Safer Gambling Week

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6 days ago

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June 10, 2025

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The European Gaming and Betting Association (EGBA) has announced that this year’s European Safer Gambling Week will take place from November 17 to 23.

European Safer Gambling Week is an annual collaborative initiative to raise awareness about safer gambling in Europe and foster a strong culture of player protection. Organised by EGBA, the initiative serves as a platform to inform citizens about safer gambling and promote information and best practice-sharing between stakeholders across Europe’s gambling sector, including operators, regulators, technology providers, support organisations and experts-by-experience.

This year will be the fifth edition of the initiative and follows the unprecedented success of 2024, which saw 195 partners participate in a social media campaign across 26 countries reaching 3.1 million social media users with important safer gambling messages. There were also 20 events held during the week that gathered 3000 attendees.

Building upon this momentum, the 2025 edition will be underpinned by a social media campaign and an array of insightful workshops. These will aim to raise awareness about safer gambling, share best practices and tips, signpost crucial resources and services, and facilitate meaningful discussions about the latest developments in regulation and research.

Maarten Haijer, Secretary General of EGBA, said: “We’re pleased to announce the dates for European Safer Gambling Week 2025 and are excited to build on the exceptional momentum of last year’s campaign. The initiative has become Europe’s leading platform for safer gambling awareness and last year brought together a record coalition of 195 partners across 26 countries to promote player protection. This is a shared commitment and we invite organisations across the industry to join us for this year’s edition and help us foster a strong culture of safe and sustainable gambling in Europe.”

The post EGBA Announces Dates for This Year’s European Safer Gambling Week appeared first on European Gaming Industry News.

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