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POLLARD BANKNOTE ANNOUNCES COMPLETION OF THE PREVIOUSLY ANNOUNCED ACQUISITION OF PACIFIC GAMING
POLLARD BANKNOTE ANNOUNCES COMPLETION OF THE PREVIOUSLY ANNOUNCED ACQUISITION OF PACIFIC GAMING ...
About this update from Pollard Banknote Limited
[{"type":"text","content":"\n\n\n\n POLLARD BANKNOTE ANNOUNCES COMPLETION OF THE PREVIOUSLY ANNOUNCED ACQUISITION OF PACIFIC GAMING\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n WINNIPEG, MB\n \n\n ,\n \n\n April 1, 2025\n \n\n /CNW/ -\n \n Pollard Banknote Limited\n \n (\"Pollard Banknote\") (TSX: PBL) announced today that it has completed the previously announced agreement to purchase (\"Acquisition\") 100% of the business of Pacific Gaming, LLC and LIF Capital Group, LLC (collectively \"Pacific\"), a recognized leader in bingo electronics, handhelds, blowers, point-of-sale systems, and bingo management systems. Pollard Banknote signed a definitive agreement to acquire 100% of the equity of Pacific on\n \n March 21, 2025\n \n . The Acquisition was subject to certain standard regulatory and third‐party consents, which have now all been obtained.\n \n\n\n\n\n\n\n\n\n Pacific has become part of the Pollard Charitable Games Group, joining other industry leaders such as American Games, International Gamco,\n \n Diamond Game\n \n , and CJ Venne. This acquisition strengthens Pollard Banknote's existing product portfolio, which already includes paper pull tabs, electronic pull tabs, bingo paper, pull tab vending machines, video verifiers, and bingo daubers. Pacific's bingo equipment provides an even more comprehensive and integrated range of products to meet the needs of charitable gaming operators.\n \n\n The total Acquisition purchase price is\n \n $10.0 million\n \n U.S. dollars (approximately\n \n $14.4 million CDN\n \n dollars using an exchange rate of\n \n $1.44 CDN\n \n dollar per U.S. dollar) prior to standard working capital adjustments. The purchase price was funded from existing Pollard Banknote cash resources and availability under existing senior credit facilities. The Acquisition is expected to be accretive to Pollard Banknote's net income.\n \n\n\n About Pollard Banknote\n \n\n\n Pollard Banknote is a leading lottery partner to more than 60 lotteries worldwide, providing high-quality instant ticket products, licensed games, in-lane ticket opti...