Pollard Banknote Announces Acquisition of Pacific Gaming
Pollard Banknote Limited announced that it has signed a definitive agreement to purchase 100% of the business of Pacific Gaming LLC and LIF Capital Group LLC (collectively “Pacific”), a recognized leader in bingo electronics, handhelds, blowers, point-of-sale systems, and bingo management systems.
Pacific will become part of the Pollard Charitable Games Group, joining other industry leaders such as American Games, International Gamco, Diamond Game, and CJ Venne. This acquisition strengthens Pollard’s existing product portfolio, which already includes paper pull-tabs, electronic pull-tabs, bingo paper, pull-tab vending machines, video verifiers, and bingo daubers. Pacific’s bingo equipment provides an even more comprehensive and integrated range of products to meet the needs of charitable gaming operators.
“We are thrilled about adding the Pacific electronic bingo offerings into our charitable gaming portfolio. As one of the leading providers to the charitable bingo market, the addition of electronic solutions is an important element of providing a comprehensive product offering to existing and new customers. Pacific will be a key addition in helping us remain a leader in this space,” said John Pollard, Co‐Chief Executive Officer of Pollard Banknote.
Steven Fingold, Executive Vice President for Charitable Gaming at Pollard Banknote, said: “Pacific has long been a leader in electronic bingo solutions and we’re excited to have them join our charitable games group. This acquisition further highlight’s Pollard Banknote’s ongoing commitment to the charitable gaming market and our focus on expanding our leadership role through both organic growth and key acquisitions.”
The total Acquisition purchase price is $10.0 million U.S. dollars (approximately $14.4 million CDN dollars using an exchange rate of $1.44 CDN dollar per U.S. dollar) prior to standard working capital adjustments. The purchase price will be funded from existing Pollard Banknote cash resources and availability under the existing senior credit facilities. The Acquisition is expected to be accretive to Pollard Banknote’s net income. The Acquisition agreement of Pacific has been signed and expected to close on April 1, 2025 on receipt of standard approvals. The Acquisition is not contingent on any financing.
“This acquisition continues Pollard Banknote’s commitment to growing our presence in the important charitable gaming market and strengthening our leadership role as the partner of choice for charities throughout the U.S. and around the world. We are extremely pleased to have the Pacific team join us, and we look forward to continued success in expanding our reach within the bingo market,” John Pollard added.
