Shares in Winnipeg-based Pollard Banknote drop after Michigan picks different iLottery supplier
Manitoba·New
Shares of Pollard Banknote Ltd. fell more than 30 per cent after the Winnipeg-based company said the Michigan Lottery plans to go with another supplier for its iLottery and related services when its contract expires.
Company shares fell more than 30% after announcement
Shares of Winnipeg-based Pollard Banknote Ltd. fell more than 30 per cent after the company said the Michigan Lottery plans to go with another supplier for its iLottery and related services when its contract expires.
The company, through a joint venture agreement, currently provides the services under a contract that expires in July 2026.
Pollard Banknote shares were down $9.22, or 33.6 per cent, at $19.10 in early afternoon trading on Tuesday on the Toronto Stock Exchange.
The company says it remains an important supplier to the Michigan Lottery.
It was awarded a new five-year contract by the Michigan Lottery in March to be the primary supplier for their instant tickets.
The company also says it continues to be a partner in the U.S. as part of NeoPollard Interactive LLC which currently includes five long-term iLottery contracts.
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