The Supreme Ventures Limited (SVL) has announced a $1 million donation towards the Government’s PATH programme to specifically feed children in vulnerable inner-city communities in light of the presence of the novel coronavirus (COVID-19) on the island.
Based on the recent school closure announcement made by Prime Minister Andrew Holness, thousands of students are now at home and will not receive the benefit of the national school-feeding programme.
The intention is to enable the PATH programme to continue the feeding programme at home in order to attend to the nutritional needs of the children.
Jamaica’s first case of COVID-19 was confirmed last week and the total number of confirmed cases now stands at 12 cases. The pandemic has spread to over 175,000 persons globally with over 6,000 deaths.
State Minister in the Ministry of Education, Youth and Information, Alando Terrelonge said SVL’s donation is timely as the government is ensuring that the vulnerable members of the public are taken care of while attempting to contain the local spread of the virus.
“We understand the needs of our children on PATH and the importance of ensuring that they continue to receive nutritious meals at this time. In times of crisis, we must all be our brother’s keepers and I want to thank SVL for partnering with the ministry in the best interest of our children,” Terrelonge said.
The state minister went on to implore other corporate companies to assist.
“For true equality in education to be attained, then all our children irrespective of social background must have equal access not only to schools but also to food. I am imploring more corporate Jamaicans to assist us to help the most vulnerable amongst us, our children.”
Deputy CEO of Shared Services and Chief Marketing Officer for the Supreme Ventures Group, Heather Goldson said the company’s response is an extension of its involvement in the community.
“Supreme has done quite a bit of work with at-risk youth over the years and we are very sensitive to the needs of those who are exposed from the drastic scaling down of available goods and services as a result of COVID-19. We wanted to make sure we jumped in and help the national effort and we decided that contributing to the efforts of maintaining a level of normalcy for these students who are among our most vulnerable would be the best response at this time,” she said.
The Programme of Advancement Through Health and Education (PATH), which was started in 2001 by the Government of Jamaica, provides cash and bursary grants to the most needy and vulnerable in the society.
Source: http://www.loopjamaica.com/content/path-feeding-programme-gets-1-million-supreme-ventures
Other Sources:
The Star
http://jamaica-star.com/article/20200316/supreme-ventures-donates-1m-path-feeding-programme
First SVL Lotto jackpot for 2020 won in Portmore
KINGSTON, Jamaica— Supreme Ventures Limited (SVL) is reporting that a player has won the Lotto jackpot, the first for this year. The $79 million jackpot was hit during draw #1658 on Saturday, February 29.
The lucky Leap Year numbers 04, 09, 14, 20, 32 and 36 were purchased at Joong Supermarket in Bridgeport, Portmore, St Catherine.
“This is the first Lotto hit for the year and we hope that this sets the tone for the rest of the year. We paid out $322 million to Lotto winners last year and we hope that we have even more winners,” Vice President at SVL, Gail Abrahams, said.
She advised that the winner has 90 days to come forward to collect his or her winnings.
“In the meantime, we urge the winner to treat that ticket like the money itself. The ticket is the only way to claim your jackpot,” Abrahams added.
The winner is to present the ticket to SVL’s Corporate Office, 28-48 Barbados Avenue. Seven days after they come forward, the jackpot will be handed over, SVL said.
Source: http://www.jamaicaobserver.com/latestnews/First_SVL_Lotto_jackpot_for_2020_won_in_Portmore
SVL reports record 2019 profit while horse racing subsidiary continues to bleed
Jamaican-based regional gambling company, Supreme Ventures Limited (SVL) is reporting record-breaking profits for 2019 in spite of the continuing losses from its horse racing subsidiary, Supreme Ventures Racing and Entertainment Limited (SVREL).
In its audited financial report for 2019, SVL recorded a net profit of $2.47 billion, representing an increase of $347 million or 18 per cent. This profit was achieved from gross ticket sales of a whopping $73.16 billion, up to $10.19 billion, or 16.19 per cent over 2018.
STRONG SVL CONTRIBUTION
As a result of this strong performance, SVL contributed over $7.8 billion to government agencies and related bodies, an increase of almost one billion dollars over 2018.
Total winnings for the year amounted to $50.77 billion from 97 million tickets in an adult population of 1.7 million.
This is an increase of almost 15 per cent over 2018.
Post-to-Post Betting, which was acquired by SVL early last year, contributed $39.39 million for the first six months of operation as an SVL subsidiary.
Earnings per share of 92.59 cents enabled the company to pay dividends to external shareholders of 60 cents for the quarter ended September 2019 and a further 20 cents that is being recommended as final payment for 2019. This will bring the total dividends per share to 80 cents or 86 per cent for 2019, an increase of 2.6 per cent in comparison to the total dividend payout in 2018.
In her forward to shareholders SVL’s President and Chief Executive Officer Ann-Dawn Young Sang notes that a portion of the earnings for 2019 was reinvested to support the ongoing acquisitions of the SVL Group and capital expenditures.
Total assets attributable to shareholders increased by $2.81 billion as a consequence of the acquisition of Post–to-Post Betting, deposits on the assets of Champion Gaming, and the implementation of the International Finance Reporting System 16 (Leases) in 2019.
At the same time, the number of SVL shareholders grew from 4,308 in 2018 to 5,343 in 2019.
BUSINESS SEGMENT RESULTS
All segments of the business performed better in 2019 than in the previous year, reflecting increases of 10 to 15 per cent. The lotteries and pins segment continues to deliver results above expectations based on the strategic initiatives implemented during the year.
Earnings for the segment amounted to $3.52 billion, an increase of 17.46 per cent over 2018.
The Sports Betting segment (excluding Any Bet) achieved gross ticket sales of $1.31 billion, which is a significant achievement in a post-World Cup year.
CAYMANAS CONTINUES TO BLEED BUT CUTS LOSSES
The horse racing segment, which came into being after SVL acquired Jamaica’s sole race track, Caymanas Track Limited from the Jamaican Government in February 2016, continues to bleed. However, the financial haemorrhaging in 2019 was not as severe as in 2018 when the losses amounted to over $300 million.
The losses for 2019 are down to $214 million, representing an improvement of 15 per cent year over year.
The news is good in that the racehorse segment recorded a 14 per cent increase in revenues, an improvement of $845.6 million during 2019.
Source: http://www.jamaicaobserver.com/business-observer/svl-reports-record-2019-profit-while-horse-racing-subsidiary-continues-to-bleed-gross-ticket-sales-up-10-19-billion-to-a-whopping-73-16-billion_188627
SVL to spend millions of dollars on domino games in poor communities
Balford Henry – Jamaica Observer – March 3, 2020
If you have been playing dominoes for fun, relaxation or a chance to join your business house team, it is time you start taking the game much more seriously.
That’s because it is now official that leading gaming company Supreme Ventures Limited (SVL) is planning to pump millions of dollars into an islandwide domino competition, to find the best players as well as offering SVL an opportunity to partner with vulnerable communities that need help to stimulate growth in small and micro business investments.
“Millions of dollars will be won, with bragging rights as to who is Jamaica’s domino champion, ’cause you don’t know where it will go,” SVL’s President and CEO Ann-Dawn Young Sang told last Wednesday’s Mayberry Monthly Forum at Knutsford Court Hotel in New Kingston.
Young Sang explained that the effort is evidence that SVL is determined to stick with its “responsible gaming” pledge, by continuously revamping and reviewing its efforts to ensure awareness that its products are designed for adults, 18 and older, and encouraging customers to game responsibly.
She noted that based on the company’s own research, last year SVL launched a community-driven project called the Supreme Heroes Grants Project, through which it asks residents to nominate persons or organisations among them who are making a positive impact for the grant.
“We go into small communities that oftentimes are forgotten, small business projects that need some assistance sometimes, and we are partnering with them in terms of establishing micro businesses, where the profits go to the less fortunate in the communities, enabling them to operate, by giving them training opportunities and funding to build and sustain their businesses,” she explained.
She said another thing that the research has shown is the popularity of the domino game in many of these communities.
“So we are looking at funding the first annual islandwide [domino] tournament that Jamaicans have ever seen…” she told the audience.
“We are going to be engaging everybody; engage all the communities to have them involved because every domino player in Jamaica believes he is the best player, and we are going to be building on that spirit of community and helping to foster that interest,” she stated.
She explained that SVL believes that this investment will stimulate growth “because wherever you have the domino competition everybody comes out to participate — the pan chicken man, the drinks man, the little snacks person — and it is about sharing and giving persons other things to do and providing opportunities, and that’s what we are going to do”.
As part of its commitment to promoting responsible gaming, SVL says it is a staunch supporter and partner of Rise Life Management, the only organisation of its kind in Jamaica, which deals with counselling and behavioural changes for persons with addictions of any kind.
“We are annual supporters of their campaign against underage gambling, too,” she told the crowd.
In addition, she said that SVL has been honouring persons and organisations making a positive impact on these communities through the Supreme Heroes Grants.
Source: http://www.jamaicaobserver.com/sports/svl-to-spend-millions-of-dollars-on-domino-games-in-poor-communities_188578?profile=1511
Supreme Ventures facilitates blood drive in New Kingston
Supreme Ventures recently opened the doors of its New Kingston office to facilitate a blood drive by the Jamaica Blood Bank.
Medical personnel from the nation’s single blood collectorate set up camp in the executive boardroom at the gaming company to welcome SVG staff and employees from the various companies on the R Danny Williams Building on Barbados Avenue.
The initiative, led by SVG’s Human Resource and Administration Department, part of the company’s new Shared Services Division, aimed at collecting 50 pints of blood and building ties with other corporations in the building.
C0-CEO, Xesus Johnston, Gaming Operations
SVG said the Blood Bank reached out to the company to host the blood drive and as an impactful corporate citizen, the invitation was accepted. This was the first time SVG engaged in a blood drive.
Supreme Ventures, mainly through their re-launched Foundation, has bolstered its outreach over the past 14 months. Chiefly they have launched a $40 million fire safety programme that is set to impact 30 children’s homes islandwide and a social enterprise programme that seeks to build capacity in small community businesses that assist the needy.
Source: http://www.loopjamaica.com/content/supreme-ventures-facilitates-blood-drive-new-kingston