Author Archives: Supreme Ventures

Neville Graham  – Jamaica Gleaner – June 2, 2023

Gaming and entertainment company Supreme Ventures Limited is looking to subsidiary Supreme Ventures Entertainment Limited, SVREL, to be a driver of profit this year.

Since its takeover of the Caymanas Park horse racing track through SVREL six years ago, the company has investing about $3.6 billion in rebranding and upgrading the facilities.

“This emphasis on improving the marketing and product offering was reflected in the ticket sales,” SVL Group Chairman Gary Peart told shareholders at the company’s annual general meeting on Wednesday.

Gross ticket sales climbed above the $10-billion mark for the first time last year, Peart added, following a 19 per cent spike.

Also: “For the first time since we assumed the operations, Caymanas Park has turned a profit,” he added.

SVREL, operator of the horse racing track, generated earnings of $162.5 million in 2022 “due to deferred taxes”, spinning from a loss of $85.9 million in 2021, Peart reported.

Speaking after the meeting, Peart told the Financial Gleaner that the expected importation of new horse racing stock would add to the pool and make horse racing more competitive and attractive to bettors.

Government recently removed the GCT and SCT payable on horses imported for racing and breeding stock. Both breeders and owners have responded by moving to import as many as 100 horses this year, starting in July.

“With the expansion of the horse population, you will have more competitive races, and more competitive races means more bets, “Peart said, while citing recent events where on days when the races were not competitive, revenue flows were just $45 million to $50 million.

“If we have 10 competitive races, we actually have a day where the revenue would jump to about $76 million,” Peart said.

Consistent revenue from more competitive races would translate to about $1.6 billion in additional annual revenue over the 88 race days of the year, he added.

Revenue from sports betting, which covers mostly horse racing, totalled $14.38 billion for financial year 2022. For the first quarter ended March 2023, revenue totalled $3.7 billion. Sport betting is the second most lucrative income stream for SVL Group after lottery games.

Photovoltaic system

In addition to more horses, SVREL is looking to its new 1.3MW solar photovoltaic system to deliver cost savings of about $110 million on the company’s current $120-million energy bill.

The $400-million solar system will supply up to 95 per cent of Caymanas’ energy needs, Peart said.

However, SVREL has encountered difficulties in connecting the solar system to the Caymanas operations. The area of greatest concern is that of the stables which, Peart says, is badly in need of a complete overhaul.

Until that issue is resolved, the company is connecting the new tote board to the renewable energy system.

The company’s next big energy project will be property lighting for the track.

“When you put in lights at Caymanas, it becomes a game changer. If I have lights at Caymanas, I can have a night market, so that when the people of Portmore and St Catherine are leaving work, you can stop at Caymanas and get fresh produce on your way home,” Peart said.

“We can change the racing calendar and, say, do racing on a Wednesday, starting at 5:30 p.m. You can go to work, come home to Portmore, then you come to Caymanas for a night of racing. You then have more punters, more entertainment – it will be a huge game changer,” Peart asserted.

Source: https://jamaica-gleaner.com/article/business/20230602/svl-betting-horses

Supreme Ventures Limited launched the Supreme Scratchaz Supreme Wheels game on Wednesday, May 24 at Stewart’s Auto Gallery, St Andrew.

“We create winners, and we change lives. Scratchaz has been no different. People have realised their dreams in a number of ways, but more importantly has been the realisation that Supreme Ventures continues to innovate and deliver… [to] the market things that are exciting, new and different. Scratchaz is a big part of that,” Xesus Johnston, chief executive officer, Supreme Ventures Gaming Limited, told the media on hand at the launch event.

Introduced just a year ago, Supreme Scratchaz, gives buyers of a ticket 20 chances to win prizes by scratching off sections of the tickets and matching them with the winning numbers also on the ticket. Previously, the maximum payout was $10,000,000. Now the top prize will be one of several 2024 GWM Haval H6 sport utility vehicles under the Supreme Scratchaz Supreme Wheels moniker.

Johnston explained that this was the company’s first time working with any automotive supplier, but the partnership has been long in the making.

After debuting the Supreme Wheels commercial at the event Supreme Ventures will be on a major marketing push to make sure as many people are aware of the opportunity to win the brand new vehicle. The H6 will make its rounds around the country at various locations and promotions for customers to interact with.

Johnston added that it is the hope of Supreme Ventures that Supreme Wheels will expand the appeal of the game to non-traditional customers.

“I can say for every Jamaican it’s a big dream to own a car. Owning a house, owning a car those are two of the most important things for a Jamaican. And, working together, Supreme Ventures and Stewart’s Automotive Group we’re going to make that dream a reality for many Jamaicans,” said Johnston.

Duncan Stewart, general manager, Stewart’s Motors Limited, thanked Supreme Ventures for the partnership. While Debbie Green, general manager, International Game Technology, producers of the Scratchaz cards, expounded that the cards will retain their potential $350,000,000 in cash prizes alongside the Haval H6, making it possible for someone to win both the vehicle and cash together.

Source: https://www.jamaicaobserver.com/auto/supreme-ventures-wants-you-to-scratch-di-car/

Labour Day in Jamaica, celebrated annually on May 23, marked the culmination of Workers’ Week, emphasising the civic and social responsibility of all Jamaicans. This year, under the theme ‘Plant a Tree … For Life’, Supreme Ventures Foundation, in collaboration with Change Makers Ltd, embarked on a transformative mission focused on climate change mitigation, food security, and road safety.

Two children’s homes, Sunbeam Plus Home for Boys in St Catherine and City of Refuge in St Andrew, were beneficiaries of the foundation’s efforts. Sunbeam Plus Home for Boys provides a nurturing environment for 16 boys, teaching them Christian principles, while City of Refuge houses 56 children ranging from six months to 18 years old. These homes identified pressing needs for repairs, beautification, and essential resources.

Supreme Ventures Foundation, driven by its commitment to serving the community, deployed dedicated staff volunteers who actively participated in this annual initiative. Their presence and assistance aimed to create equal opportunities and foster safe and enjoyable living environments for Jamaican children in need, a release noted.

“Labour Day is not just a day of service, but a day of empowering our children and building stronger communities. Through our partnership with Supreme Ventures Foundation, we are creating a lasting impact that will inspire and uplift generations to come,” expressed Corporate Communications and PR Manager of Supreme Ventures Limited, Chloleen Daley-Muschett.

The Labour Day project encompassed a range of activities designed to transform the homes. Staff volunteers provided meals and engaged in painting, repairs, and installations of garden boxes. The children enthusiastically joined in, painting and planting trees and flowering plants. Cleaning efforts and improvements to the overall environment were also carried out. Daley-Muschett added, “We believe in the power of collective action and the positive impact it can have on the lives of those in need. Through our ‘Plant a Tree … For Life’ initiative on Labour Day, Supreme Ventures Foundation is proud to be a catalyst for change, fostering environmental consciousness and creating safer, more nurturing spaces for Jamaican children. Together, we can sow the seeds of hope and transform lives for a brighter future,” she remarked.

Source: https://jamaica-gleaner.com/article/news/20230525/supreme-ventures-foundation-plants-seeds-hope-labour-day

iBet Supreme, a subsidiary of Supreme Ventures Limited (SVL) based in Guyana, has announced the restructuring of its administrative and retail operations as part of its overall plan for expansion.

The restructuring, the company said, includes the relocation of its retail operations and the company’s corporate offices.

Stefan Miller, Senior Vice President of Product Management and Business Development at SVL, commented on how the new location for iBet Supreme’s retail operations aligns with the company’s vision for expansion.

“With a strategic vision of growth, we have invested in a new state-of-the-art retail facility on Charlotte Street in Georgetown that will not only allow us to better serve our customers but will also greatly enhance the gaming experience for everyone who visits the store,” Miller said in a press release.

“Meanwhile, our new corporate office on Lamaha Street will provide a dedicated space for our administrative and support staff, allowing them to focus on providing the highest level of service to our customers and our over 70 retailers in the country. Our goal is to be the premier gaming destination in Guyana, and we are confident that this move will help us achieve that goal,” he added.

As part of the launch activities for its new retail location, iBet Supreme will host a special event that will provide customers with exciting opportunities to win prizes including free gaming credits and cash.

Abigail Primo-Chase, Deputy General Manager of iBet Supreme, echoed Miller’s sentiments, adding, “Our team is dedicated to providing our customers with the best gaming experience locally and so we’re very proud to open the doors to this brand new location.

“The relocation is a bold step towards enhancing our capacity to meet the needs of our customers, and we look forward to continuing to deliver the exceptional service that our customers have come to love and expect from us at iBet Supreme,” she said.

iBet Supreme launched in December 2018 offering popular numbers games, Cash Pot, a one drop numbers game that is played six times a day, and Money Time, a roulette themed game that is played every four minutes. The company later expanded its offering to include sports betting and online gaming on its Ibet games platform.

For SVL, the launch of the new location represents a significant milestone in iBet Supreme’s growth journey.

Source: https://www.jamaicaobserver.com/latest-news/svl-guyana-subsidiary-ibet-supreme-restructures-retail-operations/

Other Links: https://jamaica.loopnews.com/content/svl-guyana-subsidiary-ibet-supreme-restructures-retail-operations