Lottery tech supplier Pollard Banknote has successfully won the vendor contract for the Colorado Lottery.
The news was announced by the company itself, highlighting that the Colorado Lottery has published a Notice of Intent to award Pollard Banknote as its successful vendor for lottery digital solutions following a procurement process.
As such, Pollard Banknote will supply the lottery with a comprehensive iLottery platform, a fully fledged website and a mobile application, player loyalty and rewards incentives, marketing programmes, as well as a portfolio of games.
The contract awarding is now subject to a protest period and the completion of the standard background investigation process, together with the subsequent administrative execution.
Doug Pollard, Co-Chief Executive Officer, Pollard Banknote, commented: “We are honored that the Colorado Lottery has entrusted us with this opportunity.”
Colorado to help stabilise Pollard Banknote’s financials
The subsequent revenue generated from the contract’s iLottery sales will undoubtedly help Pollard Banknote bounce back from a hesitant financial profile at the start of the year.
For the three months ending 31 March, the company reported $141.7m (£105.6m) in revenue, which represented a 3.1% decline from the same period last year.
Meanwhile, gross profit was down to $16.6m from $25.4m in Q1 2025, net income dropped to $3.5m from $11.7m for the year prior, while operational income stood at $7.5m – a noticeable 58.5% drop from $18.3m in Q1 2025.
John Pollard, Doug Pollard’s brother and Pollard Banknote Co-Chief Executive, pointed to a devaluation of the US dollar as one of the main reasons behind the firm’s Q1 performance.
However, he was quick to highlight that Pollard Banknote will return to growth by the end of the year, with scheduled instant ticket volumes over the next two quarters already ‘at the highest level in recent years’.
“While the first quarter financial results were very disappointing, we are confident the remainder of 2026 will see improved results from both our instant ticket and digital areas, as well as continuing strong results from our charitable division,” John Pollard added.
Pollard Banknote is also currently in the process of securing a new Chief Financial Officer after Rob Rose announced that he will step into retirement at the end of 2026.