PURPOSE: To make it possible to form perforations in accordance with the kind of tickets, by providing such a arrangement that a perforation forming rotary cutter is rotated in synchronization with the speed of ticket sheet conveyance in such a range that the rotary cutter forms perforations, but may be rotated in asynchronization with the above-mentioned speed in a free rotational range after the working.

CONSTITUTION: When a pad of tickets is dispensed, a rolled sheet 12 is paid out to a predetermined length by means of a conveying motor M2, is printed by a printer 15 and is then delivered to a perforation forming device 18. In association with the delivery operation, when a digit 29 is in a stand-by position P1 where a sensor S4 confirms the cutter 29, the latter is moved to a rotation starting position P2 by means of a perforation forming motor M3. When a perforation forming position on the rolled sheet 12 comes to a position corresponding to the digit cutter 29, the motor M3 is rotated in synchronization with the speed of conveyance by the motor M2 to form perforations. Then the perforation forming motor M3 is rotated at a high speed to promptly move the cutter 29 to the rotation starting position P, jumping out the stand-by position P1, and therefore the cutter 29 forms a predetermined number of perforations successively. The thus obtained ticket pad is cut off by a cutting device and is discharged. Thus, it is possible to surely form perforations at predetermined positions in accordance with the kind of tickets.