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Canada’s Pollard Banknote Secures Norsk Tipping Contract

Posted on January 6, 2023 | 6:02 am

Pollard Banknote Limited, the Canadian lottery solutions provider based in Winnipeg, has announced that it has secured an important contract with Norsk Tipping, the national lottery operator from Norway.

The contract will run for the next three years and it will automatically renew for a further year if the parties don’t decide to end it. The deal sees Pollard Banknote Limited remain the primary provider of scratch ticket products for Norsk Tipping after the two companies had been working together in the past few years as well.

This partnership has allowed Norsk Tipping to launch some innovative products such as Flax Julekalender, using the Scratch Tab technology developed by Pollard Banknote Limited. Moreover, the Scratch FX innovation was also implemented in Norsk Tipping products.

Norsk Tipping was founded all the way back in 1948 and it is a state-owned enterprise which also has a social mission along with the entertainment value of their lottery games. Since its founding, the company has contributed over 18 billion dollars to sport, culture, health and humanitarian causes in Norway.

Speaking about the new contract, Hans Erland Ringsvold, Head of Gaming Operations at Norsk Tipping, described Pollard Banknote as “a trusted partner” and explained that the new deal allows his company to leverage more of the partner’s experience, “including strategic marketing services” along with product innovations.

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Revenue Record Broken

Pollard Banknote Limited has been doing very well lately, last year they announced that 2021 has brought them record-breaking revenue which amounted to 459 million Canadian dollars, more than it ever generated in its history that spans more than a century.

The was established all the way back in 1907, starting out as a commercial printing business. Then, in the 1970, the company made the move towards security printing and eventually into lotteries and iGaming.

The revenue in 2021 was 10.8 percent higher than in 2020, when the company generated just 414.1 million Canadian dollars. However, the gross profit for the year was just 0.1 percent higher than in 2020, amounting to 91.1 million Canadian dollars.

The company’s total pre-tax income was 27.1 million Canadian dollars, 41.2 percent less than what was recorded in 2020. The total net income for the year amounted to 19.7 million Canadian dollars, a decrease of 40.8 year-on-year.

SOURCE“Pollard Banknote Awarded Instant Scratch Ticket Contract by Norsk Tipping“PR Newswire. January 2, 2023.

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