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

Published

5 years ago

April 16, 2020

George Miller

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

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

Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Pollard Banknote Provides Business Update in Response to COVID-19 Uncertainty

Related Topics:gambling industry in Europe

George Miller

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Latest News

Americas Online Gambling Market To Soon Eclipse Europe’s, Finds Vixio Forecasts

Published

3 hours ago

May 12, 2025

George Miller

Reading Time: 2 minutes

Vixio forecasts that regulated online GGR in North and Latin America will grow at a compound annual rate of 3 percent from US$22.3bn in 2023 to US$56.3bn by 2028, drawing level with regulated European market.

Vixio, a leading provider of regulatory intelligence solutions, ahead of SBC Americas forecasts that the regulated online gambling market in the Americas to be worth US$32.5bn by 2026, compared to US$15.6bn in 2022, more than doubling in size in a period of four years. This growth rate is more than double the equivalent in Europe, with the European regulated online gambling market projected to be worth €37.3bn in 2026, up from just under €30bn in 2022.

By 2028, regulated online gambling markets in the U.S., Canada and Latin American countries are expected to generate US$56.3bn, drawing level with Europe or potentially surpassing it depending on currency fluctuations.

“Prior to 2018, the regulated online gambling market was highly euro-centric but legalization of sports betting and iGaming in various U.S. states as well as the major markets of Ontario and Brazil has coincided with stricter regulations in European countries that has restricted growth in a number of cases,” said James Kilsby, Chief Analyst, Vixio.

Vixio will be showcasing its data forecasting and regulatory intelligence solutions in more detail at the SBC Summit Americas 2026 at stand B175, with additional information in its Latin America Online Outlook report, available at vixio.com/research/latin-america-outlook-2025.

Vixio forecasts that regulated online GGR in North and Latin America will grow at a compound annual rate of 20.3 percent from US$22.3bn in 2023 to US$56.3bn by 2028, drawing level with regulated European market.

Providing further insight into one of the most closely watched online gambling markets globally, Kilsby, Vixio’s award-winning analyst, will be speaking during a panel session titled “Brazil 2025: A Surge in Licensing and Lessons So Far.” James was recently recognized as a Silver Stevie® Award Winner for Thought Leader of the Year in the 2025 American Business Awards®. The panel will take place on Wednesday, May 14, at 11 a.m. in conference room four.

In addition, Vixio has been shortlisted for Compliance Solution of the Year at the 2025 SBC Awards, which will be announced on the second day of the conference.

Visit us at stand B175 at SBC Summit Americas to learn more about how Vixio can help your business navigate the regulatory challenges of the gaming industry.

For more information, or to book a meeting with a Vixio representative at SBC Americas, visit vixio.com.

The post Americas Online Gambling Market To Soon Eclipse Europe’s, Finds Vixio Forecasts appeared first on European Gaming Industry News.

Latest News

ACR POKER’S FANTASY POKER LEAGUE RETURNS FOR VEGAS’ HOTTEST SUMMER SERIES

Published

3 hours ago

May 12, 2025

George Miller

Reading Time: 2 minutes

Drafting opens from today through Monday, May 26th, giving players the chance to compete for cash rewards

ACR Poker is bringing back its fan-favorite Fantasy Poker League promotion this month, offering players the chance to cash-in on Vegas’ biggest summer series without playing a single hand.

Building on the success of 2024’s inaugural Vegas edition, where over 700 teams were created, the Fantasy Poker League: Vegas 2025 gives fans and players worldwide a unique opportunity to engage with the action by drafting their ultimate lineup of poker pros and competing for cash prizes, glory and bragging rights.

“Fantasy sports are wildly popular, and after last year’s epic Vegas edition, bringing the Fantasy Poker League back was a no-brainer,” said 2003 WSOP Main Event champion and ACR Pro Chris Moneymaker. “Whether you’re railing your favorite pros or competing with friends, it’s the best way to stay connected to all the hot poker action in Vegas this summer.”

The drafting period for the Fantasy Poker League kicks off today and runs until Monday, May 26th (12pm ET). From Tuesday, May 27th through Wednesday, July 16th, participants will earn points every time their drafted players cash in live poker events during Sin City’s hottest summer series.

Here’s how the 2025 Fantasy Poker League works:

Draft your fantasy squad(s) (between 4 to 8 players), staying within the $300 salary cap (May 12th–26th)
Choose between three fantasy league buy-in options: $20, $100, and $500 (May 12th–26th)
Check the leaderboard daily to see how your selected team(s) are performing against the competition (May 27th–July 16th)

In addition to the Public League, ACR Poker is enhancing this year’s Vegas edition with the introduction of Private Leagues. Players now have the ability to design their own custom league experience with friends and choose their own buy-ins, salary caps, and participation limits to create the perfect competition.

Moneymaker also noted that participants can easily register and assemble their dream poker team(s) by visiting the My Account page – Rewards tab in the ACR Poker client. Plus, they can enter as many teams as they like.

Alongside the Fantasy Poker League, players looking for more poker action this May can jump into ACR Poker’s largest Online Super Series XL, guaranteeing over $50 Million. Plus, the ‘Moneymaker May-Hem’ offers players a chance to join Chris Moneymaker in Las Vegas for the $10K Main Event when they play in any $109 Sunday Moneymaker Tournament this month.

To learn more about the Fantasy Poker League: Vegas, visit ACRPoker.eu.

The post ACR POKER’S FANTASY POKER LEAGUE RETURNS FOR VEGAS’ HOTTEST SUMMER SERIES appeared first on European Gaming Industry News.

Latest News

Rapid growth in sports traffic and 400+ participating teams – the Golden Boomerang Awards 2025 results.

Published

8 hours ago

May 12, 2025

George Miller

Reading Time: 2 minutes

The Golden Boomerang Awards 2025, a global affiliate traffic tournament hosted by Boomerang Partners, has officially concluded after three thrilling months of intense competition. From February 3 to May 11, the tournament brought hundreds of affiliate teams across two dynamic leaderboards: Sports betting and Casino.

Boomerang shared some impressive numbers and results from the tournament:

Over 400 affiliate teams from around the world participated (last year, 226)
The share of sports traffic to the Boomerang portfolio brands increased by 39% during the competition;
Sports traffic attracted to the active segment during the competition remained at 86%;
The top sports event during the contest period was the Champions League semi-final match between Barcelona and Inter;
During the same period, the top game on the casino leaderboard was the Sugar Rush 1000

In addition to awards in 11 categories (these will be awarded to the winners in May at a special ceremony), Golden Boomerang Awards 2025 participants competed for exclusive prizes in monthly drawings. There were a total of four such drawings:

Month 1 winner — RevPanda. They attended AC Milan vs Inter.
Month 2 winner — HighRoller Gaming. The prize was a trip to F1.
Month 3 winner — Boring Seo. The Boomerang Partners team will fulfil their wish.

Boomerang also held a special competition as part of GBA 2025. It was timed to coincide with the Champions League semi-finals. The winner was team FUMMA, which will receive the coveted ‘Home Stadium Fan’ VIP experience.

With the competition closed, the Top 30 affiliate teams are receiving official invitations to an exclusive award ceremony and networking event at the legendary San Siro Stadium in Milan. As the Official Regional Betting Partner of AC Milan, Boomerang Partners is proud to host the winners in true Italian style — with a show-stopping evening that combines recognition, entertainment, and football heritage. At the center of the celebration will be Andrea Pirlo, football icon and AC Milan legend, who will personally present the award nominations to the top-performing teams.

More details about the final event and winners will follow soon.

About Boomerang

Boomerang Partners is a rapidly growing global brand offering a wide range of services. Boomerang is the Official Regional Betting Partner of AC Milan and collaborates with women’s football star and influencer Alisha Lehmann. In 2024, it launched the inaugural Golden Boomerang Awards 2024, the first annual global affiliate tournament. Boomerang Partners’ betting segment surged 5x, and gambling — 2x in 2024. Its affiliate program demonstrated a 120% increase in partners, and the number of sports betting offers surged more than 6 times. Six new products were launched by Boomerang in 2024, which contributed to an almost 1.5-fold increase in product users.

Boomerang’s portfolio contains 15+ gambling brands, including sportsbooks. They cover over 35 GEOs and offer a wide range of betting options with favorable odds. These products provide personalized bonuses and 24/7 multilingual support.

The post Rapid growth in sports traffic and 400+ participating teams – the Golden Boomerang Awards 2025 results. appeared first on European Gaming Industry News.