Category: News

Loop – June 18, 2019
Supreme Ventures Limited (SVL) has completed the acquisition of majority shareholding in Post to Post Betting for an undisclosed amount.
Post to Post offers gaming products including sports betting and horse racing in the Jamaican market under the Post to Post and AnyBet brands with 35 locations across the island.
SVL said the move is aligned with its growth strategy to not only expand in the Jamaican horseracing and mobile gaming market but into the region with IBet supreme in Guyana.
Post to Post will continue to operate as a standalone commercial business promoting their brands and products, as a subsidiary of SVL. The new subsidiary will enable SVL to better serve various segments of the gaming market and allow the introduction of innovative products to a wider cross-section of customers, SVL President and CEO, Ann-Dawn Young Sang said in a statement.
There will be no immediate operational changes, following the acquisition, with Gintaras Svitojus remaining as General Manager. Young Sang, Ansel Howell and Xesus Johnston has however been nominated to comprise the majority of the board of Post to Post Betting Limited, which includes Damian Chin-You to the board of SVL. SVL’s sports betting revenues grew considerably over the first quarter, benefiting from the execution of product offerings.
Overall performance for the quarter stood at $924 million, a 14 per cent improvement at the close of the first quarter of 2019 compared to the same period last year. Concurrently, SVL reported $620.9 million in its consolidated profits, representing the best results in the history of its operations.

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Source:  http://www.loopjamaica.com/content/svl-strengthens-presence-sports-betting-market-new-acquisition

Loop – June 13, 2019
Mayberry Investments CEO Gary Peart has been named Chairman of gaming company Supreme Ventures. Peart takes over the mantle from Chairman W. David McConnell who has held the role for the past two years.
McConnell oversaw and led the company through record-breaking performances during his tenure, with the company’s operating income growing by well over 50 per cent and share prices moving by well over 200 per cent.
McConnell will assume the role of Chairman of the board’s finance committee and will remain involved in the strategic oversight and risk management of the business. McConnell decision to step down as Chairman is primarily based on family obligations and was informed largely due to his now expanded responsibilities with his various companies and new opportunities in his business, Select Brands.
He is co-managing Director of Select Brands Limited and sit on the boards of Select Brands Limited, Ironrock Insurance Company Limited, Scotia Group Jamaica Limited, Scotia Investments Jamaica Limited and Hillel Academy.Peart has been CEO of Mayberry Investments Limited since May 2005 and is largely credited with building the business into one of the leading investment houses on the Jamaican financial landscape.
He has over 20 years of corporate finance experience in Jamaica and currently serves as the Deputy Chairman on the board of the Jamaica Stock Exchange. He also sits on the boards of Lasco Financial Services Limited, Lasco Distributors Limited and Ironrock Insurance Company Limited. Peart previously held the role of finance committee Chairman for SVL.
“We thank David for his extremely hard work executing the vision of taking SVL to the next level over the past two years. He has presided over 20 record-breaking months of achievement during a period of great change for the company. His stewardship has been tremendous, and we look forward to building on the foundation he has laid” stated the new Chairman Peart “I am excited to be taking on this role as we move into the next phase.”

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Source: http://www.loopjamaica.com/content/gary-peart-appointed-chairman-supreme-ventures
 
Other mentions:
Gary Peart New Chairman Of Supreme Ventures – Jamaica Gleaner – June 14, 2019
http://jamaica-gleaner.com/article/news/20190614/gary-peart-new-chairman-supreme-ventures

Jamaica Gleaner – May 19, 2019
Gold sponsor of the national senior women’s football team, the Reggae Girlz, Supreme Ventures Limited (SVL), invited the team and members of the Greenwich All-Age football team to a last hurrah lunch and dribble social on Child’s Day, Friday, May 17.
In a much needed change of pace, the Reggae Girlz were given an opportunity to relax and rap with the younger footballers. Coach Hue Menzies, who was also invited, encouraged the young ballers to seek the guidance of the Reggae Girlz and ask all the questions they might have about a career in sport.
He commended #TeamSupreme for the activation that allowed the Reggae Girlz to participate in social outreach and connect with the next generation.
Supreme Ventures President and CEO Ann-Dawn Young Sang said that the entire nation is proud of the achievements of the Girlz.
MORE THAN SPONSORS
“We are proud of the achievements of our Girlz, and we stand behind them in every way we can. But I see this as more of a partnership than just a sponsorship. We celebrated you earlier this week at the French Embassy, but today, we want you to work with us in this outreach effort,” she said.
Friday’s event was intended to connect and impact the future of Jamaica’s female footballers with the history-making Reggae Girlz. The Greenwich All-Age girls got the opportunity to ask the Reggae Girlz questions about their journey as international footballers and their training habits and life in the spotlight, which the Girlz were quick to answer. The SVL team, which came out in their numbers, were encouraged by the showing of the Reggae Girlz and the Greenwich All-Age footballers as the interaction was very impactful for all.
In addition to the rap session, both teams took to the lawns of The Jamaica Pegasus, where they played a scrimmage game.
State Minister in the Ministry of Education, Youth and Information Alando Terrelonge commended SVL for the initiative and reiterated the Government’s support for the Reggae Girlz on their journey to France while wishing them success at the 2019 FIFA Women’s World Cup.
On May 14, Supreme Ventures hosted the entire squad and technical team along with the top brass of the Jamaica Football Federation at the French Embassy under the patronage of Ambassador Denys Wibeaux.
 

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Source: http://www.gleaner-jamaica.com/article/sports/20190519/supreme-ventures-connects-reggae-girlz-next-generation
 

Steven Jackson – Jamaica Gleaner – May 8, 2019
Gaming conglomerate Supreme Ventures Limited, SVL, is acquiring Jamaica’s largest sports bookmaker, Any Bet, which would result in SVL controlling around 90 per cent of the market.
Any Bet is the trading name for Post to Post Betting Limited and is operated by Post to Post Holdings Limited. The company has signed a letter of intent with SVL to sell majority interest to the gaming company, which operates rival sports-betting game JustBet.
No other terms of the agreement were disclosed. The deal is expected to close in June.
“It would be an acquisition of shares, and we will not be doing any rebranding,” said a manager at Post to Post Betting, who otherwise declined to comment until next month. That’s when, according to a market filing at the weekend, the parties “intend to finalise and execute a final agreement”.
SVL is the leading player in the lottery-gaming market owner of Jamaica’s only horse-racing track, Caymanas Park, which it acquired from the Jamaican government in 2017. But its dominance does not carry into the bookmaking market.
Bookmakers take bets for events such as horse racing, simulcast racing and other sports such as football and NBA games. They then pay betters according to their odds.
Post to Post Betting controls some 73 per cent of the bookmaking market, based on sales, according to data published by regulator Betting, Gaming and Lotteries Commission, BGLC, in its annual report for the year ending March 2017.
Post to Post Betting is owned by three families. The shareholders include Albert Chow, Lloyd Hoo Mook, Natasha Hoo Mook, Icilda Hoo Mook, Natalia Hoo Mook, Alexander Chin and Rodney Chin, according to Companies Office of Jamaica records.
PREVIOUS MERGER
Post to Post resulted from the merger of Jamaica’s largest bookmaking companies – Champion Betting, Track Price Plus Limited and Markham Betting – in 2013. At the time, the three firms operated over 188 betting shops across Jamaica.
SVL, which is a publicly traded company, holds about 19 per cent of the bookmaking market through its wholly owned subsidiary Prime Sports, based on the BGLC data.
The Financial Gleaner was unable to reach SVL president and CEO Ann-Dawn Young Sang for comment.
Last year, SVL’s sport-betting segment made $248 million in revenue. Over the past two years, the segment has averaged 6.7 per cent of total SVL revenues, based on SVL’s 2018 audited results.
PROFIT
In the first quarter ending March 2019, Supreme Ventures made $621 million in after-tax profit on $9.3 billion of revenue. Sports betting contributed one per cent, or $87 million, to total sales in the quarter.
Jamaica’s main bookmakers in 2017 were Post to Post Betting/Any Bet, Prime Sports Jamaica/JustBet, Capital Betting & Wagering Limited, Ideal Betting Company, Island Bet and Jamozzie/BetCris. The six companies generated $4.93 billion in total sales for the fiscal year.
The BGLC annual report also referenced two other players, for which there was no sales data: Summit, which had been non-operational for two years at the time of report; and Olympic Sports Data Services, whose sales were not included in BGLC’s industry highlights as it operates within the Montego Bay Free Zone.
Any Bet led the market with $3.64 billion, followed by Just Bet at $611 million, Island Bet at $260 million, Jamozzie/BetCris at $183.7 million, Ideal at $170.1 million and Capital Betting at $70 million.
 

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Source: http://jamaica-gleaner.com/article/business/20190508/supreme-ventures-acquires-main-sports-betting-rival-any-bet
 

Gaming and entertainment company, Supreme Ventures Limited has released its first quarter financial results showing overall segment performance of $924 million.
This is a 14 per cent improvement at the close of the first quarter of 2019 compared to the same period last year.
The company is reporting $620.9 million in its consolidated profits, representing the best results in the history of its operations.
Total gaming income showed a 15 per cent increase to $9.3 billion, while direct expenses also went up by 15 per cent to $7.4 billion.  Gross ticket sales and gross profits also saw increases of 16 per cent and 14.8 per cent respectively.
The increase in revenues across the segments was attributed to the successful deployment of marketing and retail initiatives
Sports betting revenues grew considerably over the quarter, benefiting from the execution of product offerings while the horse-racing segment recorded the highest increase in revenue performance year on year.
Ann-Dawn Young Sang, President and CEO of Supreme Ventures, said the results are encouraging and expects the company to continue its current trajectory.
“We look forward to maintaining the positive momentum through the implementation of key strategic initiatives for the remainder of the year. The launch of Supreme Games, our new mobile gaming platform is one such initiative that we will continue to expand on and leverage” Young Sang said.
Though there was an increase in finance costs of $14.8 million, the company’s earnings per share managed to be marginally higher at 23.55 cents compared to 2018 at 23.4 cents.
Chairman of Supreme Ventures Limited, David McConnell said the Solomon Sharpe-led Board and the management team at Supreme Ventures Racing and Entertainment Limited (SVREL) are focused on building on the momentum achieved in the first quarter.
“We have a clear vision for SVREL, as we do with all our brands, and our strategic objective is to ensure that the park operates according to international standards by investing in the right technology, products and communications tools,” he said.
SVREL has put in place several new measures to improve the racing product since the start of the year, including the implementation of sophisticated photo-finish technology, improvements to the parlay betting system as well as revisions to the payout structure for British racing.
The horseracing promotions company also relaunched the mobile betting platform, Mbet and partnered with Sportsmax to revamp the production and broadcast of race days in the latter part of 2018.
 

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Source: LINK: http://www.loopjamaica.com/content/supreme-ventures-reports-improved-earnings