Pollard Banknote to acquire Next Generation Lotteries for €36m

first_img Subscribe to the iGaming newsletter Tags: Pollard Banknote Next Generation Lotteries AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 5th January 2021 | By Robert Fletcher Topics: Lottery Email Address Lottery solutions provider Pollard Banknote has signed a definitive agreement to acquire lottery management and ilottery technology specialist Next Generation Lotteries (NGL) for €36m (£32.5m/$44.2m). Pollard Banknote to acquire Next Generation Lotteries for €36m NGL chief executive Hans Vigmostad added: “We are excited about the cultural fit between NGL and Pollard Banknote. Lotteries will not only appreciate the great technology we will offer, but also the commitment from our teams to offering the right solutions for our customers.” Pollard Banknote will fund the acquisition using existing cash resources and senior credit facilities. Subject to certain standard regulatory and third-party consents, the acquisition is expected to close early in the first quarter of 2021. “NGL will significantly expand our product offering for both retail and ilottery gaming and will be a strong complement to our North American leading joint venture, NeoPollard Interactive,” Pollard Banknote co-chief executive Doug Pollard said. NGL is a solutions supplier to the lottery industry, offering retail lotto systems and ilottery platforms. The provider is primarily focused on Europe and Asia, counting the likes of Loteries de Catalunya in Spain among its customers. Under the deal, Pollard Banknote will pay €32m upon closing of the acquisition, with the remaining €4m to be paid upon the achievement of certain gross margin targets in 2021. “The recent worldwide growth seen in 2020 in omni-channel lottery sales, and particularly ilottery, highlights an important opportunity for lotteries around the world.” The supplier acquired its lottery operations when it purchased Novomatic Lottery Solutions, formerly known as Betware, from the Austrian gaming giant in October 2019. Lotterylast_img

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