Category: News

Durrant Pate – Jamaica Observer – February 12, 2020
The Fair Trading Commission (FTC), Jamaica’s competition regulator, has cleared regional gaming company Supreme Ventures’ acquisition of Post to Post Betting Limited, citing minimal effect on competition in the racehorse, betting and gaming business.
This follows an investigation by the competition regulator of the implication of the acquisition last year by Supreme Ventures of majority shares in Post to Post Betting, a Jamaican company that offers gaming products including sports betting and horse racing to the Jamaican market under the Post to Post and ANYBET brands.
NO NEGATIVE EFFECT ON COMPETITION
The FTC reports that it has completed its investigation into the acquisition and concluded that “the acquisition agreements are unlikely to have the effect of a substantial lessening of competition in the bookmaking services market. Essentially, the agreements are not in breach of Section 17 of the Fair Competition Act (FCA)”.
Following media reports of the acquisition the FTC opened the investigation under Section 17 of the FCA — which applies to agreements which have as their purpose, effect or likely effect the substantial lessening of competition in a market. The effect of the agreements on competition was assessed in three markets: (i) betting services on sports events and virtual games (ii) betting services on simulcast horse racing (iii) betting on services on local horse racing.
While the FTC had no competition concerns regarding the first two markets, for the third market the FTC had concerns about the potential for the discriminatory imposition of rights fees by Supreme Ventures in favour of Post to Post, and against competing players in the market. The FTC is, however, satisfied that sector regulator the Betting, Gaming and Lotteries Commission has the power to avert any such discriminatory conduct.
NO HASTE TO ACQUIRE MORE SHARES
In light of the ruling, Supreme Ventures has indicated that it intends to acquire additional shares in Post to Post Betting. However, there will be no haste in securing these additional shares as this will be done sometime during the course of this year.
In announcing the acquisition in June last year, Supreme Ventures said Post to Post will continue to operate as a stand-alone commercial business promoting their brands and products. Post to Post currently operates 35 shops islandwide. The original Post to Post shareholders will retain 49 per cent ownership of the company, giving Supreme Ventures the majority shareholding in Post to Post of 51 per cent.
Supreme Ventures reported that the acquisition is aligned with its growth strategy, which has seen the company not only expanding in the Jamaican horse racing and mobile gaming market but also into the region with iBET Supreme in Guyana. Supreme Ventures President & CEO Ann-Dawn Young Sang pointed out that the new subsidiary will enable the regional gaming company to better serve various segments of the gaming market and allow the introduction of innovative products to a wider cross section of customers.
Source: http://www.jamaicaobserver.com/business-observer-corporate-listing/ftc-clears-supreme-ventures-acquisition-of-majority-shares-in-post-to-post-betting_186563

The Supreme Ventures Foundation (SVF) has pledged to continue to support children in State care in various capacities as it commissioned into use another fire alarm systems under the $30-million Fire Safety Memorandum of Understanding between the SVF and the Ministry of Education and Youth.
SVF Director Heather Goldson made the remarks at the handing over ceremony at the Maxfield Park Children’s Home recently when a newly installed $2.8-million state-of-the-art fire alarm system was handed over to the home under the ongoing programme.
The Maxfield Park facility is one of 15 to receive an upgraded fire system in the first year of the two-year programme. The homes that have already received systems under the programme are Homestead Place of Safety in Stony Hill, Reddie’s Place of Safety in Mountain View, Strathmore Gardens Children’s Home in Spanish Town, Yadel Home for Girls in Old Harbour, and Mustard Seed Communities facilities: Sophia’s Place in Gordon Town, the Gift of Hope facility in Spur Tree, Manchester and Mahoe Drive, which houses children with severe physical challenges.
Goldson restated the foundation’s commitment to the project that will mark its one-year anniversary soon.
“It is almost two weeks to the one-year anniversary of the signing of the foundation’s MOU with the ministry, and it is most befitting that we are today handing over one of the largest facilities on the list of homes in the programme. We are on track to hit our target of 15 homes by our first anniversary,” she said.
“Our goal posts are set high, and we have deliberately set them that way in order to achieve maximum impact in a relatively short period of time. The project will see 30 State homes across the island receiving fully upgraded fire alarm systems, training from our partners, the Jamaica Fire Brigade, and in some instances, perimetre fencing, by February 2021. We set out to pump over $30-million into this project, and we are on budget and on target,” she added.
She also reiterated the importance of the programme that was a proactive response to the tragic fires that have plagued State-run facilities over the years.
“When emergency situations arise, a fully functioning alarm system and well-trained staff can prove to be the difference between life and tragedy. The Supreme Ventures Foundation’s investment in this project is about giving children in State care a fighting chance to survive a fire emergency. Our investment is in the people who work tirelessly to care for their charges, to empower them and ensure that they know how to respond if the need arises. Our investment is an endorsement of the capability of our people, the importance of their lives and safety.”
State minister in the Ministry of Education and Youth Alando Terrelonge said the multi-stakeholder programme that involves the Child Protection and Family Services Agency and the Jamaica Fire Brigade is a prime example of corporate Jamaica “stepping up to the plate” to address national issues and urged other corporations to do the same.
The Fire Brigade presented a certificate of inspection to chairman of the Maxfield Park home, Emprezz Golding, and took the attendees on a tour of the newly-installed system that stretches from the administrative office to the various dormitory clusters on the sprawling property at 89 Maxfield Avenue.
The Jamaica Fire Brigade invited members of the Maxfield Park Children’s Home board of directors to participate in a demonstration in the use of fire extinguishers and a display of the lifts and carries used to assist the injured during fire emergencies.
Source: http://www.jamaicaobserver.com/news/supreme-ventures-foundation-pledges-support-for-state-homes-company-donates-30-million-for-fire-alarm-system_186683?profile=1373

SUPREME Ventures celebrated the latest Super Lotto winner at a press conference held on Tuesday at Spanish Court Hotel in Kingston.
The winner, a Jamaican, was fortunate to hit the mark for the final Super Lotto draw of 2019, totalling $152.4 million.
E Byfield had extra luck on his side after purchasing winning numbers 05, 06, 07, 19, 20 and Super Ball 04 on December 31st at JJ’s Mobile Phone and Company in Spanish Town, St Catherine.
Byfield was obviously still in shock after processing the news of his Super Lotto fortune. the new millionaire, visibly anxious, was a picture of felicity, declaring, however, it has always been a dream of his to one day become a winner.
“I am elated and honestly grateful. I am planning to purchase a house, that is the ultimate goal,” he shared.
According to Heather Goldson, deputy CEO at Supreme Ventures Limited, “Closing out 2019 with a Super Lotto winner was a great end to what we feel is a super exciting year for the Supreme Ventures Group; It was also quite unbelievable that someone had won on the very last day. It was a perfect end for 2019 and start for both us and the winner.”
“[The year] 2019 was a landmark year for us as we celebrated our 18th year of operation, launched our Supreme Games mobile app, debuted a fresh new logo celebrating our growth and the overall evolution as a brand. We acquired Post to Post betting and Champion Gaming, and we further expanded our operations in our first foray out of Jamaica in Guyana. To end such a groundbreaking year with a Super Lotto hit on New Year’s Eve was simply awesome,” continued Goldson.
In addition to the excitement surrounding Byfield’s win, she went further to share some words of financial wisdom and encouraged the winner to make prudent decisions regarding his new-found wealth.
“The Super Lotto game was launched in August 2009 and is the first multi-jurisdictional game in the Caribbean and Latin American. It is the only game in the region that offers a truly super start in Jackpot of US$1.5 million, and it is the only game in the region that gives players a chance to become a super millionaire like Mr Byfield. The game is drawn in Jamaica, Barbados, St Kitts & Nevis, Antigua, Anguilla, St Martin and the US Virgins Islands; and with Mr Byfield’s win, we have created our 9th win in Jamaica,” explained Debbie Green, general manager at International Game Technology.
Source: http://www.jamaicaobserver.com/news/millionaire-overnight_185999?profile=1373
Other Sources:
Loop Jamaica
http://www.loopjamaica.com/content/super-lotto-winner-urges-players-believe-their-bet
Jamaica Star
http://jamaica-star.com/article/news/20200130/jamaican-wins-1524-million-super-lotto

Durrant Pate – Jamaica Observer – January 22, 2019
Regional gaming and lottery company, Supreme Ventures Limited (SVL), has formally taken control of Champion Gaming Limited having completed its acquisition of the Jamaican-based gaming company.
Champion Gaming Company Limited is a Jamaican-owed company, which has more than 1,200 machines in the Route Video Lounge Terminal (VLT — slot machines) business in Jamaica. It commands about 15 per cent of the slot machines market operating in the island.
With this acquisition SVL has increased its foothold of the slot machine market in Jamaica and it represents the latest addition to its regional expansion programme.
Supreme Ventures said the acquisition is in keeping with its strategy to expand into new and existing market segments and product streams. In addition, the acquisition, will also enable better partnerships with small business owners who benefit significantly from the slot machine industry, providing a partnership with a stronger entity, and enabling better representation of their interests at the regulatory table.
SVL acquired Champion Gaming through its wholly owned subsidiary, Bingo Investments Limited. The board of Bingo announced last Friday that the acquisition, which was initially announced on December 20 last year, has been completed.
SVL has announced the appointment of one of its directors, Damian Chin-You, to chair the board of Bingo.
Also appointed to the board of Bingo are Ann-Dawn Young Sang, president and chief executive officer (CEO) at SVL, and Xesus Johnston, co-CEO of Prime Sports (Jamaica) Limited, a wholly owned subsidiary of SVL. The other individual appointed to the board of Bingo is attorney, Christian Tavares-Finson.
Young Sang pointed out that with this acquisition, the company will be able to achieve greater economies of scale, leverage its synergies, and solidify its market position while expanding its product base in the gaming slots industry.
This investment in the Jamaican market by a Jamaican company, she said, shows the organisation’s confidence in the economy and cements the viability and strength of the market for further investments.
“We continue to execute on our growth and expansion strategy, which creates value for our employees, our over 5,000 shareholders, and our main partner, the Government,” Young Sang explained.
She emphasised that the strengthening of the partnership between SVL and the Government is essential to the sustained growth and development of the country’s economy, as SVL is one of the country’s largest tax contributors.
Source: http://www.jamaicaobserver.com/business-observer/bingo-supreme-venture-completes-acquisition-of-champion-gaming-new-acquisition-increases-svl-foothold-in-slot-machine-market_185124?profile=1056
Other Sources
Loop Jamaica
http://www.loopjamaica.com/content/supreme-ventures-closes-champion-betting-deal

Luke Massey – SBC News – January 17, 2020
Sports fans on Just Bet, a fixed odds betting network operated by Supreme Ventures Ltd (SVL) in Jamaica, are now enjoying greater options for sports betting after the implementation of an innovative sports betting platform from Altenar in December of last year.
The new platform is equipped with all the latest technological industry advancements to provide an enhanced betting experience, both in store and for mobile betting.
SVL’s CEO of Gaming Operations Xesus Johnston touted the benefits of this new system. “Just Bet customers now have access to new betting options for virtual betting and the addition of football, basketball and tennis on our mobile site,” he explained.
“No other gaming provider in the region offers this online. Meanwhile, we have added more sports to our pre-match and live betting selection. This includes NCAA basketball, volleyball, ice hockey, esports – all offered with more favourable odds for the customer.
“With our focus on making it easier to place bets, we have also eliminated bet slips in stores so customers can easily book a bet on your mobile device and pay in store.”
SVL ended a near 10-year deal with Intralot, Just Bet’s launch partner back in 2010, to switch to the Altenar platform.
Johnston noted that Altenar is a key part of its “medium to long term strategy to more effectively use technology to advance operations, taking the company to the next level and attaining the number one position in sports betting for the region”.