Colorado Lottery Goes All-In on Digital with Pollard Banknote Partnership

DENVER, CO – June 15, 2026 – The journey from prototype to profit is often marked by pivotal partnerships that unlock new markets and revenue streams. A significant milestone of this nature emerged today as the Colorado Lottery published its Notice of Intent to Award a comprehensive Lottery Digital Solution contract to Pollard Banknote Limited (TSX: PBL), a veteran in the global gaming industry. The announcement signals Colorado's strategic commitment to modernizing its lottery operations and capturing the immense growth potential of the digital landscape.

Should the deal proceed, the Winnipeg-based firm will be tasked with delivering a full-stack digital ecosystem. This includes a state-of-the-art iLottery platform, a new website and mobile application, a sophisticated player loyalty and rewards program, and a suite of digital games. While the award is still contingent on a mandatory protest period, a standard background investigation, and the final execution of a formal contract, it represents a decisive step towards a new era for both the Colorado Lottery and its chosen partner.

"We are honored that the Colorado Lottery has entrusted us with this opportunity," said Doug Pollard, Co-Chief Executive Officer of Pollard Banknote, in a statement accompanying the announcement. The honor is matched by the scale of the opportunity, as state lotteries across the U.S. increasingly look to digital solutions to augment traditional retail sales and engage a new generation of players.

A Strategic Leap for State Revenue

For the Colorado Lottery, this move is less about simple technological adoption and more about a fundamental strategic pivot to maximize its core mission: generating revenue for the state's outdoor recreation, conservation, and education programs. In fiscal year 2025, the lottery generated nearly $828 million in ticket sales, resulting in approximately $170 million for its beneficiaries. While impressive, the potential for growth through digital channels is substantial.

Industry data paints a compelling picture. The U.S. iLottery market, currently active in about 13 states, is a burgeoning sector with an estimated turnover of $7 to $8 billion in 2023. More tellingly, states with established iLottery programs report per capita sales nearly double those of states without, and the segment has grown by 24% over the past five years. This initiative positions the Colorado Lottery to tap into that growth, creating a powerful new engine for funding public goods.

By integrating a mobile app, loyalty programs, and online game sales, the lottery aims to enhance player engagement and convenience, moving beyond the limitations of brick-and-mortar retail. This omnichannel approach is critical for staying relevant in a world where consumers expect seamless digital experiences. The success of this commercialization effort will ultimately be measured in increased returns for Colorado's parks, trails, and schools.

Pollard Banknote Cements iLottery Leadership

From Pollard Banknote's perspective, this provisional award is a significant victory in the highly competitive U.S. iLottery market. Securing the Colorado contract strengthens its position against formidable rivals like Scientific Games and IGT, both of which have extensive digital lottery operations across the country. It also highlights the company's successful navigation of the complex state procurement process, a critical capability for any firm in this regulated industry.

The company's digital strategy is anchored by its Pollard Catalyst™ Gaming Platform, a modern, cloud-native system designed for rapid integration and flexibility. This technology, combined with a portfolio of digital games and loyalty solutions, forms the core of the comprehensive package offered to Colorado. This win serves as a powerful case study for the platform's capabilities, which the company claims enabled the fastest full iLottery launch in U.S. history earlier this year.

Pollard Banknote's deep entrenchment in the North American lottery ecosystem, partly through its NeoPollard Interactive (NPi) joint venture with NeoGames, provides it with a significant competitive advantage. NPi solutions, leveraging NeoGames' technology, currently command an estimated 70% of the U.S. iLottery gross wager market share. While the Colorado deal appears to be a direct contract with Pollard Banknote, the company's extensive experience through NPi in states like Michigan and North Carolina undoubtedly bolstered its bid. This award reinforces Pollard Banknote's transition from a legacy print-and-ticket provider, established in 1907, to a forward-looking digital gaming powerhouse.

Navigating the Path to Finalization and Implementation

Before the digital transformation can begin, several key milestones must be cleared. The award is subject to a protest period, defined by Colorado statute as ten business days, during which any aggrieved party from the procurement process can file a formal objection. This procedural step is a standard but crucial hurdle in public-private partnerships. Following a successful resolution of this period and a thorough background check, the parties can move to execute the final contract.

Beyond the administrative process lies the challenge of responsible implementation. Expanding lottery access to digital platforms brings with it heightened concerns about responsible gaming. The Colorado Lottery has been proactive in this area, employing a full-time Player Health Manager and striving to incorporate best practices. The new digital system will require robust tools for age verification, setting spending limits, and providing resources for players who may need help. The success of the platform will depend not only on its revenue-generating power but also on its ability to maintain public trust and uphold the highest standards of integrity.

This digital leap will redefine the player experience in Colorado, offering unprecedented accessibility and engagement. By integrating loyalty programs like those Pollard Banknote has successfully deployed in other states, such as Kansas, the lottery can build stronger, data-driven relationships with its customers. The move from anonymous retail transactions to known player accounts opens up a world of personalized marketing and responsible gaming interventions, transforming how a state lottery operates in the modern era.