Pollard Banknote (TSX:PBL) Acquires Compliant Gaming, Set To Buy Next Generation Lotteries

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Pollard Banknote (TSX:PBL) Acquires Compliant Gaming, Set To Buy Next Generation Lotteries

 

  • Lottery solutions firm Pollard Banknote Limited has completely the 100 per cent acquisition of electronic pull-tab gaming systems Compliant Gaming LLC ("Compliant").
  • Pollard paid US$ 19 million or nearly C$ 24.3 million for the acquisition transaction. Pollard is funding it by utilizing its cash flow and existing senior credit facilities.
  • Compliant Gaming, launched in 2014, offers charitable gaming, custom mobile and internet gaming system. It has a broad range of game content and electronic gaming support system. It is the second largest supplier in Minnesota charitable gaming market.
  • Pollard Banknote is also set to acquire lottery management and iLottery technology Next Generation Lotteries AS for €36 million or approximately C$50 million. The acquisition deal is likely to end by the 2021 first quarter. NGL offers omni-channel full solutions to the lottery industry.
  • Of the €36 million, €32 million will be paid at the time of the closing of the deal and remaining €4 million after achieving certain gross margin targets in 2021.
  • Pollard will fund €27.6 million of the €36 million purchase price from existing cash resources and senior credit facilities.
  • NGL entered the lottery operation following the purchase of Novomatic Lottery Solutions (formerly Betware) in October 2019.

 

 

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