Pollard Banknote Limited has signed a contract to provide the ilottery solution for the Kansas Lottery. This will be the company's first launch of ilottery in the United States. The platform will be supported by its proprietary Pollard Catalyst gaming platform, which will begin generating revenue for Kansas in early 2025.
At launch, Kansas players will be able to play draw games, including Powerball and Mega Millions, as well as eInstant games customized for the Kansas market by Pollard Digital Games Studio. Pollard Banknote's player account management system will provide the necessary features for registration, age and identity verification, wallet transactions, and responsible gaming. Geolocation services will be provided through Pollard Banknote's proprietary GeoLocs technology.
Pollard Banknote Co-CEO Doug Pollard stated, "This is an exciting moment for both the Kansas Lottery and Pollard Banknote. Our decades-long partnership with the lottery, combined with our game-changing Pollard Catalyst technology and what we believe to be the strongest team in the industry, will bring the best experience to players, making it a win-win combination for the lottery and its players. We look forward to launching a very powerful iLottery program."
Pollard Banknote's second-quarter revenue reached $137.8 million
Pollard Banknote's financial results for the second quarter of 2024 show that revenue reached a historic high of $137.8 million, an increase of $7 million from the second quarter of 2023. Operating income was $19.9 million. The company's holdings in NeoPollard Interactive were valued at $166 million. The gross margin for the quarter was 21%, with adjusted EBITDA reaching $32.3 million.
