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

1 min read | January 01, 2021 04:32 AM AEDT | By Team Kalkine Media

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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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