Category: News

Supreme Ventures Limited (SVL) has ramped up marketing spend on all platforms, noting that it is a critical part of the company’s 2021 strategy. Gary Peart, company chairman, says the move predates entry of new competition. The company is aiming to drive revenue higher following a challenging 2020.

New competition entered the market in February 2021 in the form of Mahoe Gaming Limited which was given the green light by the Betting, Gaming and Lotteries Commission (BGLC) to start operations.

For the first quarter ended March 2021, SVL’s revenues fell by 18 per cent or by $135 million $to 602 million.

Although declining to disclose the new revenue numbers, and the marketing budget for the second quarter, Peart said that six months into the new year results have changed. He indicated that SVL is focused both on increasing revenue and diversification, adding new products and business lines.

Peart outlined, “Our revenue has significantly increased over the past six months and we are very pleased with the impact of our promotions on the marketplace in general. Our online gaming products are gaining traction, a result of our multifaceted marketing push that include in-store promotions, online promotions like the Grand Promotion and Million Dollar promotions.

The company chairman noted that now individuals are opting to make their gaming purchases online from the convenience of their home or office, and that “since we are still urged to maintain social distance, several persons are taking advantage of our online assets, SV Games, JustBet Online and MBet for Caymanas Park.”

Sports betting products, he added, “are also doing very well, and as the sporting world slowly reopens. We anticipate even more growth in that area in the medium term.”

The company, meanwhile, is accelerating its diversification push. In February, SVL inked a deal to purchase a 51 per cent controlling interest in microlender McKayla Financial Services.

Peart outlined, “We will be delving deeper into microfinance and financial services in the near future and increasing the range of transactions that customers can conduct at an official SVL retailer.

New launches to date include Acropolis Online which was launched on Sunday, July 18.

Peart stated, “Our marketing strategy remains a dynamic and critical part of our existing rolling strategic plan to diversify our presence in the market, this plan pre-dates the start of the new gaming entrants.”

He outlined, “In addition to pushing our suite of lottery games, we ramped up advertising of our online sports betting brands in response to the increased demand in the market for that product; we also had to push more into our online gaming product SV Games to increase registrations along with our acquisitions and entry into new markets such as microfinance.

“We have also run promotions that have always been part of our annual plans as we give back more winnings to the customers through promotional activities. We remain keenly attuned to the new entrants to the market and look forward to healthy competition.”

Investors, meanwhile, appear to be taking a bet on the company. Year to date, the stock price has climbed 6.91 per cent, closing at per cent $18.55 per unit on Monday, July 2021.

Source: https://www.jamaicaobserver.com/business-observer/supreme-ventures-aims-to-lift-revenue-with-higher-marketing-spend-and-new-products_226614?profile=1056

KINGSTON, Jamaica— The University Hospital of the West Indies’ (UHWI) diagnostic department received a boost this week with the donation of a mobile ultrasound machine from the Supreme Ventures Foundation (SVF).

According to a statement from SVF, the machine, which arrived at the hospital recently, will be integrated into the UHWI’s diagnostic network in the coming days.

The foundation said one of the key benefits of the equipment is its data compatibility with the UHWI’s information network that can be accessed remotely.

In a formal handover days before SVL celebrated its 20th anniversary on June 25, Supreme Ventures Executive Chairman, Gary Peart, said the donation was brought about by clear and open communication between the foundation and the hospital’s executives, who expressed the need in the height of the COVID-19 fight.

“While we have always been supportive of national efforts to improve health care through our annual good cause donations to government bodies, this effort symbolises a more intimate partnership, to provide the resources for an urgent specific need. It speaks to the level of open communication that must be established between health care institutions that sit on the frontline of pandemics and daily emergencies and private entities who have the resources and stand at the ready to assist,” he argued.

The ultrasound machine was earmarked for a section of the intensive care unit to prevent possible cross-contamination as the hospital also treats COVID-19 cases.

However, as more steps are taken to vaccinate the public and hospitalisations taper off, Dr Sundeep Shah, Head of Diagnostics and Interventional Radiology said the machine was still an urgent need in other areas of critical care.

 

Source: https://www.jamaicaobserver.com/latestnews/UHWI_gifted_with_mobile_ultrasound_machine

Regional gaming company Supreme Ventures Limited has announced a number of senior management appointments at its local and Guyanese subsidiaries.

Headlining the senior management appointments locally is businessman, Solomon Sharpe, who has been appointed as executive chairman of Supreme Venture’s local racehorse subsidiary, Supreme Ventures Racing and Entertainment Limited.

His appointment took effect on June 7, 2021, having been elevated from the position of non-executive chairman, a position he has held since December 2018.

At Prime Sports Jamaica, Stefan Miller has been appointed senior vice-president – product management and business development, effective June 1, 2021.

At the Guyanese subsidiary of Supreme Ventures Enterprise Inc, two appointments have been made. They are Dustanni Barrow, who has been appointed as general manager for operations, while Chantal Simpson has been appointed general manager for administration. Both appointments took effect on June 1, 2021.

The appointments according to Supreme Ventures will streamline its operations and executive team to strengthen its market share and grow its businesses in the local and regional markets which it operates.

Source: https://www.jamaicaobserver.com/business-report-daily-biz/supreme-ventures-announces-senior-management-appointments_224082

Robert Bailey – Jamaica Star – June 18, 2021

With just under a month to go before its resumption, the Elite Netball League is set to receive a massive boost as Supreme Ventures Limited (SVL) will be sponsoring the competition to the tune of $4 million.

STAR Sports has been reliably informed that the gaming company’s initial sponsorship will be for one year with the option to renew after each season. It is also understood that long-time sponsors Berger Paints will maintain its support for this year’s competition.

When contacted yesterday, president of the Netball Jamaica (NJ), Tricia Robinson, said she was not in a position to comment on SVL’s sponsorship of the competition.

Supreme Ventures Limited has been a regular sponsor of netball in Jamaica and in the past they have sponsored Netball Jamaica’s Divisional League competitions.

The Elite League, which consists of six teams, is the island’s top netball competition, attracting some of the country’s best players. The championships were scheduled to start in early 2020, but had to be postponed because of the impact of the COVID-19 pandemic.

Robinson underscored that her association is looking forward to the competition because this will set the tone for the wide scale return of the local leagues across the island.

“We are planning for the league to go ahead in July and it will be run for approximately two months but our team is working on those details just now,” said Robinson.

“This will be a good sign for us because we haven’t played any netball locally for more than a year and so we are really looking forward to the Elite League this year,” she said.

She also noted that her association is currently working on the fixtures and final details surrounding the start of the competition.

Meanwhile, a mini draft will be held to select three players for each team before the start of the competition.

Source: http://jamaica-star.com/article/sports/20210618/svl-sponsor-elite-netball-league