Pollard Banknote made official its decision to acquire mkodo Limited with the help of a definitive agreement inked recently. This would result in the acquisition of mkodo’s equity in its entirety, ensuring that future operation of the two lottery powerhouses would go smoothly. For the time being, it appears that the deal would be closed at the beginning of 2020. Both companies have a strong foothold across Canadian provinces.
In the gaming world, expanding one’s horizons is essential for the development of a given gaming giant. Down the road, acquiring a rival or a company that could diversify offerings and result in an even better end product is beneficial for the operation. It also means that the customers of two companies come together to form an even larger audience awaiting new offerings.
Digital Improvement Projected
Pollard Banknote made it clear that mkodo is the partner it needs right now, confirmed by the acquisition announcement. The lottery products leader decided to acquire 100 percent of mkodo, known for its digital operation and the creation of lottery apps for some of the Canadian provincial corporations. Its experience and professionalism would make it possible for Pollard Banknote to implement it in its future projects.
Ever since 2001, mkodo has been working closely with lottery corporations, sports betting giants, as well as gaming providers willing to introduce premium online platforms to their players. Most of the Canadian lottery corporations work in close collaboration with the developer, powering their lottery apps. This year saw the Western Canada Lottery Corporation collaborate with mkodo on its mobile lotto app available on the AppStore and Google Play.
The year 2020 is projected to see the new competitive mobile lottery app, allowing players to scan their tickets in a quick and easy manner, as to check whether they win or not. Players hailing from Alberta, Saskatchewan, and Manitoba, in addition to Yukon, Northwest Territories and Nunavut will have the chance to enjoy the premium technology in the upcoming months.
Deal Closes Q1 2020
British Columbia Lottery Corporation has worked with the company on its app in the past, but this year saw the Crown corporation reach out for modernization. Its new functionalities would allow players to deposit and withdraw funds giving them the online freedom they have always been looking for.
In addition to that, the updated app is going to allow them to purchase lottery tickets for national and regional games. UK-based lotteries have also been collaborating closely with mkodo over the years. Doug Pollard, Co-Chief Executive Officer, made it clear that the acquisition would make it possible for mkodo to reach an entirely new audience ready for its premium offerings. This move estimates to some CA$13.4 million.
Pollard Banknote wants to be well-positioned for future sports wagering expansion in Canada, as the country strives to remain competitive to the neighboring US. Sports wagering and online bingo offerings mkodo is known for would diversify existing Pollard Banknote treats and enhance them with fresh technology. Digital presence is projected to see an improvement, as players enjoy the revamped platform of Pollard Banknote’s online lottery and various perks in the digital space.