Pollard Banknote to Lose Michigan iLottery Contract in 2026
Pollard Banknote Limited announced that the Michigan Lottery has recommended a new supplier for its Internet Sales Platform & Related Services contract, which is set to begin in July 2026.
Financial Impact and Future Outlook
The recommendation changes the landscape for Pollard Banknote which currently provides lottery services under a contract that will expire in mid-2026.
The Michigan iLottery contract has been a vast contributor to Pollard Banknote’s financial performance. As of March 31, 2024, the company’s share of the Michigan iLottery contract income before taxes accounted for approximately $9 million of Pollard Banknote’s total Adjusted EBITDA over the trailing twelve-month period.
Despite this impending change, Pollard Banknote will continue to fulfill its obligations under the current contract until it expires in July 2026 and remain a vital supplier to the Michigan Lottery in other areas. Recently, the company was awarded a new five-year contract to be the primary supplier for the Lottery’s instant tickets.
Continued Presence in the U.S. Market
While Pollard Banknote will no longer serve as the supplier for Michigan’s iLottery services post-2026, the company remains a major player in the U.S. iLottery market.
Through its joint venture, NeoPollard Interactive LLC, Pollard Banknote currently holds five long-term iLottery contracts across the country.
Additionally, the company has invested in developing its proprietary iLottery platform, tailored specifically for the U.S. market, which it continues to market actively.
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